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Do one thing, make dividents you receive from companies as taxable at 30% instead of 0 or 10% and see how taxes get generated. All the bs about "marginal rate"

Do one thing, make dividents you receive from companies as taxable at 30% instead of 0 or 10% and see how taxes get generated. All the bs about "marginal rate" and yet people will find ways. If you force companies to deduct and pay taxes and then remit balance to the shareholder, the taxes collection will happen. Also, increase capital gains tax. In India its 15 or 20%, short or long term which is too little. Make it 30%

lifestyleguru 3y ago
High capital gains and dividend taxes mean that the only way for poor to accumulate capital is through employment which is already brutally taxed, and then capital will be funneled as soon as possible into real estate. See real estate markets in Ireland, Canada, UK which have high both capital gains and dividend taxes. The rich will trivially evade these two taxes anyway.
- 2Gkashmiri 3y ago
  poor don't accumulate capital. why do you think that? the majority of human population lives hand to mouth their entire lives. >then capital will be funneled into real estate as soon as possible. See real estate markets in Ireland, Canada, UK which have high both capital gains and dividend taxes. The rich will trivially evade these two taxes anyway. i dont get this. i am saying increase taxes on capital gains, that includes gains made from sale of real estate. let people hoard as much cash in a house, when they have to "sell", that is when capital gains get triggered on the profit. higher profit means higher taxes. what problem are you talking about these countries? also, how can rich evade divident and capital gains? i genuinely want to know
  - lifestyleguru 3y ago
    There is too much lobbying involved every time any government touches capital gains tax. Usually they end up changing capital gains tax only for stocks and bonds as they are rather virtual, while capital gains on gold, currencies, and especially real estate remain unchanged or even zero. > what problem are you talking about these countries? Check real estate prices in Toronto, Dublin, or London. > how can rich evade divident and capital gains? Charities, trusts, family foundations, own army of lawyers and accountants.
BXlnt2EachOther 3y ago
I could be missing something but aren't millionaires taxed on qualified dividends at 23.8%, rather than 0-10%? And nonqualified dividends taxed at income rates?

lifestyleguru 3y ago

High capital gains and dividend taxes mean that the only way for poor to accumulate capital is through employment which is already brutally taxed, and then capital will be funneled as soon as possible into real estate. See real estate markets in Ireland, Canada, UK which have high both capital gains and dividend taxes. The rich will trivially evade these two taxes anyway.

2Gkashmiri 3y ago
poor don't accumulate capital. why do you think that? the majority of human population lives hand to mouth their entire lives. >then capital will be funneled into real estate as soon as possible. See real estate markets in Ireland, Canada, UK which have high both capital gains and dividend taxes. The rich will trivially evade these two taxes anyway. i dont get this. i am saying increase taxes on capital gains, that includes gains made from sale of real estate. let people hoard as much cash in a house, when they have to "sell", that is when capital gains get triggered on the profit. higher profit means higher taxes. what problem are you talking about these countries? also, how can rich evade divident and capital gains? i genuinely want to know
- lifestyleguru 3y ago
  There is too much lobbying involved every time any government touches capital gains tax. Usually they end up changing capital gains tax only for stocks and bonds as they are rather virtual, while capital gains on gold, currencies, and especially real estate remain unchanged or even zero. > what problem are you talking about these countries? Check real estate prices in Toronto, Dublin, or London. > how can rich evade divident and capital gains? Charities, trusts, family foundations, own army of lawyers and accountants.

BXlnt2EachOther 3y ago

I could be missing something but aren't millionaires taxed on qualified dividends at 23.8%, rather than 0-10%? And nonqualified dividends taxed at income rates?