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IMO this kind of thinking is narrow-minded. Americans seem very opposed to taxing wealth for some reason. I believe it's a fear of change mostly, or perhaps an
by danny_codes 5y ago
IMO this kind of thinking is narrow-minded. Americans seem very opposed to taxing wealth for some reason. I believe it's a fear of change mostly, or perhaps an irrationally strong belief in some narrow school of economic thought.
Even if you are fully indoctrinated though and are ideologically opposed to a wealth tax, perhaps you can recognize the insanity of capital gains tax, whereby Bezos (upon selling his shares) pays just 15%.
- unmole 5y agoThe top federal tax rate on long-term capital gains is 23.8%. I'm not sure where your 15% comes from. Calculation of capital gains does not account for inflation. Taxing a nominal increase in value over multiple years at the same level as income makes no sense. I resent the implication that I am indoctrinated in some parochial ideology. Especially considering I'm not even American.