4 ms·

You tell me, that's what I'm asking.

by ad404b8a372f2b9 3y ago

itishappy 3y ago
Not an economist, but I can't imagine so. You seem to think different, that's why I'm turning it around. Am I off base?
- ad404b8a372f2b9 3y ago
  You are. I'm trying to understand the problem and solution space. - From the perspective of a communist, it's clear. - From the perspective of a libertarian, it's clear. - From the perspective of people who want to stay within the bounds of capitalism but would like to have some way to curtail inequality, a group to which I belong, it's not clear. If you're of the same beliefs but are unable to present and defend a specific solution to address the problems presented, as I am, you should welcome those questions.
  - itishappy 3y ago
    I'm of the same beliefs, but I think the situation is pretty clear: tax loopholes allow capital gains to go untaxed. You mentioned two specific issues that seem straightforward to my unknowledgeable self, and I do not understand the complications you originally mentioned with regards to "allowing the rewards to be commensurate with the risks, rewarding people who work harder and have more qualifications, and preserving ownership." I'm not trying to fight you, I'm unclear on where you're unclear and trying to understand.
    - ad404b8a372f2b9 3y ago
      I'm not trying to fight either, what I'm unclear on are the specifics of the fix. If they don't sell, no capital gains are realized, so what do you tax?
      - itishappy 3y ago
        Ah, I think I get it. Thanks! I'm not going to be able to comment on that with any confidence.
        eszed 3y ago
        Not confident in this space, either, but it seems like the loan is the loophole. So maybe using an asset as collateral counts as realizing capital gains? (And, yes, of course: establish a sensible annual exclusion, so no one accuses me of trying to demolish second mortgages for middle-class families, or whatever.) What (good-faith) second-order drawbacks might this have? I'm genuinely curious about whether this would be a feasible idea.

You tell me, that's what I'm asking.

itishappy 3y ago

Not an economist, but I can't imagine so. You seem to think different, that's why I'm turning it around. Am I off base?

ad404b8a372f2b9 3y ago
You are. I'm trying to understand the problem and solution space. - From the perspective of a communist, it's clear. - From the perspective of a libertarian, it's clear. - From the perspective of people who want to stay within the bounds of capitalism but would like to have some way to curtail inequality, a group to which I belong, it's not clear. If you're of the same beliefs but are unable to present and defend a specific solution to address the problems presented, as I am, you should welcome those questions.
- itishappy 3y ago
  I'm of the same beliefs, but I think the situation is pretty clear: tax loopholes allow capital gains to go untaxed. You mentioned two specific issues that seem straightforward to my unknowledgeable self, and I do not understand the complications you originally mentioned with regards to "allowing the rewards to be commensurate with the risks, rewarding people who work harder and have more qualifications, and preserving ownership." I'm not trying to fight you, I'm unclear on where you're unclear and trying to understand.
  - ad404b8a372f2b9 3y ago
    I'm not trying to fight either, what I'm unclear on are the specifics of the fix. If they don't sell, no capital gains are realized, so what do you tax?
    - itishappy 3y ago
      Ah, I think I get it. Thanks! I'm not going to be able to comment on that with any confidence.
      - eszed 3y ago
        Not confident in this space, either, but it seems like the loan is the loophole. So maybe using an asset as collateral counts as realizing capital gains? (And, yes, of course: establish a sensible annual exclusion, so no one accuses me of trying to demolish second mortgages for middle-class families, or whatever.) What (good-faith) second-order drawbacks might this have? I'm genuinely curious about whether this would be a feasible idea.