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I do not understand why persons worth is measured in personal income, without including expenses, child support, taxes and negative externalises such as damaged
by throw8932894 5y ago
I do not understand why persons worth is measured in personal income, without including expenses, child support, taxes and negative externalises such as damaged health. Company can include all sort of expenses and pay zero taxes, lowly employee can not even put gas into expenses.
It leads to absurd situations, where person has actual negative income (has to borrow money to get by), but on paper is "very rich". But millionaire with couple of properties can claim hardship and ask for social welfare.
- brightball 5y agoI’ve never understood why the cost of health insurance isn’t fully deductible.
- onlyrealcuzzo 5y agoFor the same reason food isn't?
- bojangleslover 5y agoMake an LLC
- dahfizz 5y agoBecause the government wants your money.
- leetcrew 5y agobecause you're not a business. businesses have different rules because a) they are not people (unless we're talking campaign finances), and b) all the money that flows into a business eventually flows out to people in a way that is eventually taxable. a health insurance deduction would likely be regressive anyway. the primary beneficiaries would be the same (upper) middle class people that max out their 401k every year. imo we should get rid of pretty much every deduction (except maybe for dependants) and slightly raise all the brackets.
- nradov 5y agoA person's worth is not measured in personal income. Where did you get that idea? A person's net worth is simply defined as assets minus liabilities. Income isn't part of the equation, but having a higher income can sometimes allow you to increase your assets over time. What sort of social welfare are you referring to? Most welfare programs have cut offs based on income and assets.