4 ms·

Much of the wealth that is really at the top is capital gains or can be offload onto offshore entities. When you are really rich it's not income tax you are tr

by Guthur 4y ago

Much of the wealth that is really at the top is capital gains or can be offload onto offshore entities. When you are really rich it's not income tax you are trying to avoid rather it's about protecting the vast wealth you've already accumulated via asset inflation. And then we could talk about the largely regressive nature of sales tax. Taxing income is actually a perversion as well, why should we be taxing actual productive actively when it's wealth we are looking to redistribute. Tax the accumulate wealth not the income.

nomel 4y ago
How does taxing wealth work, without eating away at the savings of the middle class? If wealth can't be stored, then won't they be forced to participate in labor, continuously? For example, I have some shares that I'm holding onto for retirement. They should some unsubstantial gains that are a little over inflation, per year. If I'm taxed on those, then the concept of "long term investments" seems to go out the window, requiring shorter term gains. Wouldn't both of these just act as an amplification for, what many perceive as, the shortcomings of capitalism? Or, maybe a progressive tax? Or, do you think a completely different system is required? If you haven't noticed, I am very uneducated on these types of things, so be gentle. :)
- dragonwriter 4y ago
  > How does taxing wealth work, without eating away at the savings of the middle class? When you say “middle class” do you the petit bourgeoisie or the middle income segment of the working class (the former is the traditional use in discussing capitalist economies, and the latter is popular in the US; they are very different groups.) In either case, the simple way is to set a threshold exemption (possibly purely quantitate, but possibly also differentiated by types of wealth) on the wealth subject to taxation that essentially exempts the group of concern; if you mean the popular US use of “middle class”, that’s can be done with a fairly low threshold; if you mean not to erode the wealth of the petit bourgeoisie and to focus the tax only on the haut bourgeiosie, that’s a much higher threshold. Personally, I think wealth taxation probably ought to take a back seat to income taxation that simply doesn’t radically favor capital income as a priority, since equalizing tax treatment of income is a simplification of the tax system that makes it more equitable, rather than an additional complication.

by Guthur 4y ago

nomel 4y ago

How does taxing wealth work, without eating away at the savings of the middle class? If wealth can't be stored, then won't they be forced to participate in labor, continuously? For example, I have some shares that I'm holding onto for retirement. They should some unsubstantial gains that are a little over inflation, per year. If I'm taxed on those, then the concept of "long term investments" seems to go out the window, requiring shorter term gains. Wouldn't both of these just act as an amplification for, what many perceive as, the shortcomings of capitalism? Or, maybe a progressive tax? Or, do you think a completely different system is required? If you haven't noticed, I am very uneducated on these types of things, so be gentle. :)

dragonwriter 4y ago
> How does taxing wealth work, without eating away at the savings of the middle class? When you say “middle class” do you the petit bourgeoisie or the middle income segment of the working class (the former is the traditional use in discussing capitalist economies, and the latter is popular in the US; they are very different groups.) In either case, the simple way is to set a threshold exemption (possibly purely quantitate, but possibly also differentiated by types of wealth) on the wealth subject to taxation that essentially exempts the group of concern; if you mean the popular US use of “middle class”, that’s can be done with a fairly low threshold; if you mean not to erode the wealth of the petit bourgeoisie and to focus the tax only on the haut bourgeiosie, that’s a much higher threshold. Personally, I think wealth taxation probably ought to take a back seat to income taxation that simply doesn’t radically favor capital income as a priority, since equalizing tax treatment of income is a simplification of the tax system that makes it more equitable, rather than an additional complication.