4 ms·
income is realized capital gains, not unrealized, and "increase in net wealth" doesn't mean anything. see what I did there? used the words for what they mean.
by fsckboy 3y ago
income is realized capital gains, not unrealized, and "increase in net wealth" doesn't mean anything. see what I did there? used the words for what they mean.
- quickthrower2 3y agoExactly my point! Rich people can control how much income their investments pay, and ideally they aim for growth not income which can compound forever without paying any tax. Because they are rich they have no need to sell most of the investments and so can defer paying tax forever. On the other hand poor people have no tax-free compounding subsidy and have to pay tax on every hour of labour they do.
- oneshtein 3y agoWhat we can do with these poor drunkers? Can we tax them to death?