11 ms·
You claim the basis of an hour of labor is $0. The various US government entities (DOT, EPA, HHS) uses a statistical life value of around $10 million (probably
by ThunderSizzle 3y ago
You claim the basis of an hour of labor is $0.
The various US government entities (DOT, EPA, HHS) uses a statistical life value of around $10 million (probably higher now due to inflation).
The average American works ~1800 hours a year, and, if counting from 18 to 68, can work 50 years, or 90000 hours in an average working life.
If you think solely economically, then the statistical hourly value is $111/hour ($10,000,000 / 90,000). That's your cost-basis for an average human's work-hour, per the statistic value of a human life. Of course, the $10 million isn't solely an economic number, since human life is technically priceless and has a moral value, which then brings the argument back to morality.
- sokoloff 3y agoTax basis is based on what you paid for an item, not what it's theoretically "worth". If I buy an item that's "theoretically worth $10M" for $N, my basis in it is $N, not $10M.
- ThunderSizzle 3y agoYes, that's how the current rules work. The rules are wrong, but you are correct on how they currently work. The fact that tax basis doesn't account for inflation is an intentional hidden tax and another example of evil against the population.