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Still, why tax profits? Why not tax net worth? Why not revenue? Humans get taxed on their "revenue" (income).
by thehappypm 6y ago
Still, why tax profits? Why not tax net worth? Why not revenue? Humans get taxed on their "revenue" (income).
- harperlee 6y agoHumans can deduct things so they are taxed at their profits. It's just that rules are not straightforward and what counts as a deductible expense is not the same for both. So you are aiming at the wrong level for a critique. See https://news.ycombinator.com/item?id=26698446 https://news.ycombinator.com/item?id=26698446
- webinvest 6y agoNet worth taxes exist in a small number of places in Europe. It appears to be unpopular because it causes people to hide their assets and invest in assets that are harder to place a value on. Some places just have a property tax instead. Revenue is taxed in many places; it’s called sales tax. Profit is also taxed. It is called an income tax / corporate tax.