3 ms·
Well I'm not an anarchist so I believe we need some taxes. Labor tax is the highest priority for elimination, and there should be more buy in for that idea beca
by hackerlight 4y ago
Well I'm not an anarchist so I believe we need some taxes. Labor tax is the highest priority for elimination, and there should be more buy in for that idea because the middle class benefits more, since most of their living comes from incomes than capital gains.
Capital gains tax is good if the loopholes are fixed such as cost basis resetting upon death. Otherwise we need a global wealth tax, negotiated between the EU and US to avoid capital flight. Such a tax is actually good because it improves the quality of our democracy by reducing the ability for ultra wealthy people to enact their crony capitalist corruption. This is a unique reason to tax capital wealth that isn't applicable to labor taxes.
"If you’re making over $5m and are pretty much guaranteed to be audited, why would you stop paying taxes?"
I'm talking about people under $5m