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Unrealized gains are temporary in nature. Next year the pandemic could stop and the value of the company could drop back to previous values. Should the tax rema

by vladd 6y ago

Unrealized gains are temporary in nature. Next year the pandemic could stop and the value of the company could drop back to previous values. Should the tax remain in effect in that case? You'd end up with a system where volatile companies have their investors taxed more than non-volatile ones (as fluctuations create unrealized gains during snapshot periods such as end of year, despite reverting back to the mean afterwards). Is there a reason why investors should be taxed more for increased volatility? Should one lose their wealth to taxation more aggressively based on the degree of the stock fluctuations? P.S.: We shouldn't mix in general wealth vs income taxation. Paul Graham wrote an insightful article explaining the fundamental difference of outcomes between them - http://www.paulgraham.com/wtax.html http://www.paulgraham.com/wtax.html .

BugsJustFindMe 6y ago
> Next year the pandemic could stop This is a red herring because taxation doesn't need to happen annually. Many wealth tax proposals focus exclusively on gift+inheritance intergenerational wealth transfers. Anyone in favor of un-earned wealth transfers from parent to child should also be in favor of taxing the rich more to feed, clothe, and house the poor.
- mlindner 6y ago
  But the "ten billionaires" of this article isn't about inter-generational wealth transfers... An inheritance tax is quite a different thing than a wealth tax.
  - BugsJustFindMe 6y ago
    > But the "ten billionaires" of this article isn't about inter-generational wealth transfers In the long run it absolutely is. People wouldn't care about this if all the wealth went back to the poor after each billionaire dies. > An inheritance tax is quite a different thing than a wealth tax. What do you think is being inherited?
- burrows 6y ago
  > Anyone in favor of un-earned wealth transfers from parent to child should also be in favor of taxing the rich more to feed, clothe, and house the poor. But I don’t care about the poor, I care about my children, and I want to pass my wealth on to people I care about.
  - BugsJustFindMe 6y ago
    > But I don’t care about the poor Ah, well, that's definitely a position.
    - burrows 6y ago
      Do you care for/about the poor because you want to end suffering for all sentient beings, or for some other reason?

by vladd 6y ago

BugsJustFindMe 6y ago

> Next year the pandemic could stop This is a red herring because taxation doesn't need to happen annually. Many wealth tax proposals focus exclusively on gift+inheritance intergenerational wealth transfers. Anyone in favor of un-earned wealth transfers from parent to child should also be in favor of taxing the rich more to feed, clothe, and house the poor.

mlindner 6y ago
But the "ten billionaires" of this article isn't about inter-generational wealth transfers... An inheritance tax is quite a different thing than a wealth tax.
- BugsJustFindMe 6y ago
  > But the "ten billionaires" of this article isn't about inter-generational wealth transfers In the long run it absolutely is. People wouldn't care about this if all the wealth went back to the poor after each billionaire dies. > An inheritance tax is quite a different thing than a wealth tax. What do you think is being inherited?
burrows 6y ago
> Anyone in favor of un-earned wealth transfers from parent to child should also be in favor of taxing the rich more to feed, clothe, and house the poor. But I don’t care about the poor, I care about my children, and I want to pass my wealth on to people I care about.
- BugsJustFindMe 6y ago
  > But I don’t care about the poor Ah, well, that's definitely a position.
  - burrows 6y ago
    Do you care for/about the poor because you want to end suffering for all sentient beings, or for some other reason?