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> what is a tax on investing, not spending Money changes hands so it's taxed with a purchase tax as a general rule. > it will become proportional. What is sti
by scotty79 2y ago
> what is a tax on investing, not spending
Money changes hands so it's taxed with a purchase tax as a general rule.
> it will become proportional. What is still not very good.
Progressive tax currently is just a theory. Rich actually pay regressive tax. I'd take proprtional tax over ostensibly progressive tax but in reality regressive tax any day.
- marcosdumay 2y ago> Money changes hands so it's taxed with a purchase tax as a general rule. That's called a "transaction tax". It has lots of well known issues that are incredibly hard to remedy.
- scotty79 2y agoCan you point me to some reading about its drawbacks? I know it is used widely for larger transactions of private individuals like buying a car or a house albeit with a small rate of about 2% Since ownership of houses and cars is carefully tracked it's pretty impossible to dodge.