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It's a story. But it is also an empirical question many people will be able to answer for themselves from abundant historical evidence no? Maybe people don't ca

It's a story. But it is also an empirical question many people will be able to answer for themselves from abundant historical evidence no? Maybe people don't care about the data if they've never had difficulty paying their tax bill. I'm in the other camp, as are many working class people.

jeffbee 2y ago
Sorry, could you restate your claim? It seemed as though you claimed that "many working people" have historically been taxed on their unrealized capital gains. After I fell off my stool laughing I wasn't sure you meant it.
- greentxt 2y ago
  My claim is that it's an empirical question whether tax policy drifts over time in such a way that more people pay more. Seems foolosh to argue over what can be easily quantified. In terms of my statement about many working people having trouble paying taxes, that too is quantifiable. As someone with many working poor friends I could offer anecdotes where people have to sell a car or do something drastic to pay their tax bill. The reason is that many working poor don't have normal middle class jobs where a portion of their salary is set aside for taxes. Everyone should pay taxes, even poor folks who don't have bank accounts or steady employment. My point is that these people hate taxes as much, likely more, than jeff bezos does. The people who seem to like taxes and tax increases (you may be one), tend to be upper middle class professionals who have never had to scramble to pay them for fear of prison or wage garnishment.
  - itsdrewmiller 2y ago
    https://fred.stlouisfed.org/series/FYFRGDA188S https://fred.stlouisfed.org/series/FYFRGDA188S - it seems like taxes don’t really “drift” so much as find an equilibrium and stay roughly there. I think the burden is on you to explain how this law would break us out of the current ~17% status quo.
    - greentxt 2y ago
      I'm thinking drift as in per capita. And I don't think it would greatly increase the 17% status quo, which is my point entirely.

jeffbee 2y ago

Sorry, could you restate your claim? It seemed as though you claimed that "many working people" have historically been taxed on their unrealized capital gains. After I fell off my stool laughing I wasn't sure you meant it.

greentxt 2y ago
My claim is that it's an empirical question whether tax policy drifts over time in such a way that more people pay more. Seems foolosh to argue over what can be easily quantified. In terms of my statement about many working people having trouble paying taxes, that too is quantifiable. As someone with many working poor friends I could offer anecdotes where people have to sell a car or do something drastic to pay their tax bill. The reason is that many working poor don't have normal middle class jobs where a portion of their salary is set aside for taxes. Everyone should pay taxes, even poor folks who don't have bank accounts or steady employment. My point is that these people hate taxes as much, likely more, than jeff bezos does. The people who seem to like taxes and tax increases (you may be one), tend to be upper middle class professionals who have never had to scramble to pay them for fear of prison or wage garnishment.
- itsdrewmiller 2y ago
  https://fred.stlouisfed.org/series/FYFRGDA188S https://fred.stlouisfed.org/series/FYFRGDA188S - it seems like taxes don’t really “drift” so much as find an equilibrium and stay roughly there. I think the burden is on you to explain how this law would break us out of the current ~17% status quo.
  - greentxt 2y ago
    I'm thinking drift as in per capita. And I don't think it would greatly increase the 17% status quo, which is my point entirely.