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When the asset can be marked to market, asking people to pay tax on the value once a decade is reasonable, especially if you offer tax credits for any decline t
by scoofy 3y ago
When the asset can be marked to market, asking people to pay tax on the value once a decade is reasonable, especially if you offer tax credits for any decline that happens later.
- wakawaka28 3y ago"Marked to market" does not change the situation much. Tax credits won't make up for the basic reality that you're demanding cash that is not necessarily on hand, regardless of the company's situation, with a vague promise of tax credits in the future at a time when the company is likely facing losses anyway. "Once a decade" does not make this idea work either.
- scoofy 3y agoTaxes on marketable securities are, by definition, trivially payable, especially considering the tax-loophole use to literally get around paying capital gains tax is simply to borrow against them.
- wakawaka28 3y agoYou're wrong again. Not everything is marketable, and even if it is you have no right to steal it. Why should a business owner have to gradually give up ownership of his creation just to satisfy some arbitrary tax invented to make poor people feel better about being poor, or feed some arbitrary government apparatus? That's what any wealth tax is, especially when applied to business. Wealth in and of itself should not be taxed, only transactions and fixed assets that need state protection. And the taxes should be carefully measured so as to not penalize people for being successful.