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When rich people invest, that means they are buying something. That thing gets taxed because they bought it. When they want to sell it to get a profit, someone
by hajile 3y ago
When rich people invest, that means they are buying something. That thing gets taxed because they bought it. When they want to sell it to get a profit, someone has to buy it and pay taxes (factoring that tax into the equation also lowers selling price which is effectively a tax too).
Poor people spend MOST of their income on their primary residence, food, utilities, and a couple other staples. You could simply eliminate taxes associated withe residences under X amount, taxes on staple foods, residential utility bills under a certain amount, etc. At that point, poor people would be paying few taxes while rich people would be forced to pay for all the things that make it worth being rich.