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>> my general take is that the top 1% by income do pay roughly their fair share but the top 1% by wealth don't > What evidence do you have of that? The tax ra
by throwawaygh 5y ago
>> my general take is that the top 1% by income do pay roughly their fair share but the top 1% by wealth don't
> What evidence do you have of that?
The tax rate on my salary is way higher than the tax rate on my investments and property.
It's perhaps possible that the top 1% by income are also not paying their fair share, but in that case the top 1% by wealth definitely aren't.
> Because it's already been taxed (corporate tax rates). Labor expenses come out of pretax revenue.
So what? I pay taxes on my grocery bill, and I buy groceries with money I already paid taxes on.
- WalterBright 5y ago> So what? I pay taxes on my grocery bill, and I buy groceries with money I already paid taxes on As you will with capital gains income. Saying it's ok to triple tax capital gains because wages are double taxed doesn't work.
- throwawaygh 5y agoI'm saying that controlling the number of times a dollar is taxed simply isn't a policy objective I care about. I.e., "so what?"