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Well this is what “tax the rich” means. If you don’t like it don’t vote for people who advocate tax increases. This is exactly what was promised.

robocat 5y ago
A trite thoughtless trolling clichéd dismissal. When you vote for a party, you compromise based on the whole package, regardless of how much you disagree with individual policies. If we got to vote for what we wanted, government would look very very different!
- seibelj 5y ago
  Why is raising taxes on the QSBS not what “tax the rich” means? It’s literally a 100% tax-free benefit to the owners of businesses, up to $10 million per year. I support and like the QSBS, but it is exactly the sort of thing the average voter would say is a “tax loophole for the rich”.
  - romanhn 5y ago
    Whom do you lump under "owners of businesses"? Because early employees are impacted as well, seeing how they own company stock. And there are a lot more of those, than just the founders.
    - seibelj 5y ago
      Why does anyone deserve to pay 0% tax on gains, even for early stage companies? Why not the guy who works in the sewer or digs ditches for a living? It reeks of plutocracy. And again, I support the QSBS. I'm trying to put things into perspective for the HN crowd that somehow sees 6 to 8 figure payouts as something that deserves 0% tax, yet also votes for liberal politicians. These things do not square, at least for the average non-techie voter.
      - romanhn 5y ago
        It has nothing to do with "deserving" it. Tax breaks exist, generally, to create specific incentives. In this case, the incentive is to promote small businesses by parking cash with them at an early stage, despite the added risk. Removing this break will disincentize early investment and/or make it harder for businesses to stay capitalized in their formative years.
        seibelj 5y ago
        Totally in agreement. But I’m a libertarian. The larger point I was making was that people vote for liberal politicians and act surprised when they get what was promised. Don’t pretend you are a special snowflake and deserve 0% taxes while the working person does not.
    - refurb 5y ago
      This is exactly what people call out - "Yes we should raise taxes on the other guy, not me!".
  - hamandcheese 5y ago
    The average voter likely doesn’t know or doesn’t care about the difference between high income and high wealth. I think “tax the rich” the way most people think of it would have to be some form of wealth tax.
    - seibelj 5y ago
      I think if you presented the facts - that even early employees of tech companies, who already earn some of the highest salaries in the world, can make up to $10 million per year tax free - the average voter would say that's criminally unfair. Sure sure, you can explain that the latest SaaS bullshit is just an absolutely crucial achievement in human history that needs this, but I think it won't be convincing.
      - hamandcheese 5y ago
        The key “argument” in my mind is this: why are we trying so hard to tax those who might become wealthy but seemingly make no effort to tax those who already are wealthy? I agree, that probably isn’t compelling to many, but I suspect it is a view found commonly here on HN.
- jsiepkes 5y ago
  People didn't get this 100% tax exemption because the government felt "they deserved it". They got it because it's a means for governments to bootstrap things. Like EV car adaption or tech startups. Once that goal is reached the tax benefit will go away. And in this case I can't see how on earth a 100% tax exemption on capital gain can ever be considered fair towards other people like "normal" working people. If you advocate things like tax the rich and justice then rejoice because this is a step in the right direction. Like with so many things people want change but don't want to change themselves. They want other people to change. So no this isn't trolling.
  - imtringued 5y ago
    People complain that taxes are already too high and shouldn't be raised. Others will then justify this statement by saying that the government can simply collect more tax revenue of industries that it is already taxing. Well, this is exactly that. The government is simply collecting the taxes that you are supposed to pay in normal circumstances. It's rolling back tax concessions rather than raising taxes.
mensetmanusman 5y ago
Not sure why this was down voted. These types of tax plans were laid out as part of the debates.

robocat 5y ago

A trite thoughtless trolling clichéd dismissal. When you vote for a party, you compromise based on the whole package, regardless of how much you disagree with individual policies. If we got to vote for what we wanted, government would look very very different!

seibelj 5y ago
Why is raising taxes on the QSBS not what “tax the rich” means? It’s literally a 100% tax-free benefit to the owners of businesses, up to $10 million per year. I support and like the QSBS, but it is exactly the sort of thing the average voter would say is a “tax loophole for the rich”.
- romanhn 5y ago
  Whom do you lump under "owners of businesses"? Because early employees are impacted as well, seeing how they own company stock. And there are a lot more of those, than just the founders.
  - seibelj 5y ago
    Why does anyone deserve to pay 0% tax on gains, even for early stage companies? Why not the guy who works in the sewer or digs ditches for a living? It reeks of plutocracy. And again, I support the QSBS. I'm trying to put things into perspective for the HN crowd that somehow sees 6 to 8 figure payouts as something that deserves 0% tax, yet also votes for liberal politicians. These things do not square, at least for the average non-techie voter.
    - romanhn 5y ago
      It has nothing to do with "deserving" it. Tax breaks exist, generally, to create specific incentives. In this case, the incentive is to promote small businesses by parking cash with them at an early stage, despite the added risk. Removing this break will disincentize early investment and/or make it harder for businesses to stay capitalized in their formative years.
      - seibelj 5y ago
        Totally in agreement. But I’m a libertarian. The larger point I was making was that people vote for liberal politicians and act surprised when they get what was promised. Don’t pretend you are a special snowflake and deserve 0% taxes while the working person does not.
  - refurb 5y ago
    This is exactly what people call out - "Yes we should raise taxes on the other guy, not me!".
- hamandcheese 5y ago
  The average voter likely doesn’t know or doesn’t care about the difference between high income and high wealth. I think “tax the rich” the way most people think of it would have to be some form of wealth tax.
  - seibelj 5y ago
    I think if you presented the facts - that even early employees of tech companies, who already earn some of the highest salaries in the world, can make up to $10 million per year tax free - the average voter would say that's criminally unfair. Sure sure, you can explain that the latest SaaS bullshit is just an absolutely crucial achievement in human history that needs this, but I think it won't be convincing.
    - hamandcheese 5y ago
      The key “argument” in my mind is this: why are we trying so hard to tax those who might become wealthy but seemingly make no effort to tax those who already are wealthy? I agree, that probably isn’t compelling to many, but I suspect it is a view found commonly here on HN.
jsiepkes 5y ago
People didn't get this 100% tax exemption because the government felt "they deserved it". They got it because it's a means for governments to bootstrap things. Like EV car adaption or tech startups. Once that goal is reached the tax benefit will go away. And in this case I can't see how on earth a 100% tax exemption on capital gain can ever be considered fair towards other people like "normal" working people. If you advocate things like tax the rich and justice then rejoice because this is a step in the right direction. Like with so many things people want change but don't want to change themselves. They want other people to change. So no this isn't trolling.
- imtringued 5y ago
  People complain that taxes are already too high and shouldn't be raised. Others will then justify this statement by saying that the government can simply collect more tax revenue of industries that it is already taxing. Well, this is exactly that. The government is simply collecting the taxes that you are supposed to pay in normal circumstances. It's rolling back tax concessions rather than raising taxes.

mensetmanusman 5y ago

Not sure why this was down voted. These types of tax plans were laid out as part of the debates.