4 ms·
Tax Brackets. Taxes need to target only those wealthy enough who are already in the game. I don't get why people don't understand that.
by aceazzameen 5y ago
Tax Brackets. Taxes need to target only those wealthy enough who are already in the game. I don't get why people don't understand that.
- ipaddr 5y agoWhat taxes would you raise? Raise property taxes? Raise income taxes for the 1%? Put a special tax when you sell your home?
- heavyset_go 5y agoI'd implement a land value tax, tax capital gains as income, or higher, and implement a wealth tax.
- cmrdporcupine 5y agoTreat loans using securities as collateral as a capital gain or income, and tax it as such.
- ipaddr 5y agoWouldn't a land value tax hit the older poorer seniors the hardest? Those without an income and by not fault of their own they are forced to sell because the value of their house raised? Taxing capital gains on principle residences means people are less likely to move up to a better home which creates a problem for first time home owners trying to enter the market as no supply exists. Wealth tax requires you to know everyone's wealth. How are you going to get that information / verify on a yearly basis.
- micromacrofoot 5y agowealth tax, it’s literally in the name… maybe they should call it “absurdly rich person tax”… are you absurdly rich? if you aren’t… don’t worry about it, and if you are… pay more taxes and continue being richer than 99.9% of the planet
- yibg 5y agoSerious question, would that be realized wealth or on paper wealth? If some startup founders equity is worth a billion but isn’t liquid, do we tax that too?
- micromacrofoot 5y agoneeds to be both to avoid the hoarding issues we have today, x% of assets should be liquidated for tax annually (assuming its value is over some high threshold) obviously this would be difficult and would require new rules, but it doesn’t seem at all impossible
- ipaddr 5y agoWhat would be the wealth level you would start taxing at. How would you go about determining everyone's wealth?
- micromacrofoot 5y agosame way people determine their own wealth, it doesn’t seem too outrageously complex you could start high (say 1000x the federal poverty line) and work backwards there are already a number of proposals from lawmakers that cover the details better than some rando on the internet
- bogota 5y agoWhy don’t you under That people with real wealth aren’t making money through a W2? Tax brackets only apply to the middle class and upper middle class.