4 ms·
Why not just have income be considered the sum of all the money you've made in a year? 100k salary with 25k stock gains would give you an income of 125k and tha
by dangoldin 18y ago
Why not just have income be considered the sum of all the money you've made in a year? 100k salary with 25k stock gains would give you an income of 125k and that's just taxed normally. Why should capital gains be treated differently at all?
Also, just simplify the entire thing and have a simpler tax rate. It may also be interesting to see what happens if the party responsible for what tax dollars are spent on is not the same party that decides the allocation of the money. Group 1 creates a list of priorities A, B, C but voters then get to choose the tax dollar allocation.
- timcederman 18y agoThe knock-on effects are why tax law is as (necessarily) convoluted as it is.
- Prrometheus 18y agoIf, by some miracle, you managed to simplify the tax code, then lobbyists would be there the next day trying to add loopholes to it for their clients. Without constraints on government (and ours has none de facto) there is plunder to be had in Washington, and people respond to incentives.
- ckinnan 18y agoYou'd penalize the investment gains with double taxation. The person already paid income taxes on the money that was used to generate the $25K. Why should government policy penalize savings and investment?