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> on realised employment income is more progressive Most of income from employment is "unrealised". Employment comes with expenses such as car for commuting, r
by throw8283933i 1y ago
> on realised employment income is more progressive
Most of income from employment is "unrealised". Employment comes with expenses such as car for commuting, rent in expensive part of town (where jobs are), clothes... Big part of "income" does not even land on a bank account (mandatory insurances, taxes, child support, alimony....)
If we will apply logic from property tax, to employment income tax, everyone would pay 100 USD tax every year. Because that was tax of 20 years old in their first job, and raising taxes is horrible!
- protocolture 1y ago>Most of income from employment is "unrealised". What? You realise income in trade for your labor. Its immediately realised. It is a realised gain.
- throw8283933i 1y agoAnd expenses do not exist? Just getting into location, to be at workplace on a first day, is a huge upfront investment! That is even before first minute of labour happened! Some positions have negative net income!
- protocolture 1y agoI literally deduct those expenses from my income on my yearly tax bill.