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you are still arguing for a special exemption for the rich - or do you think that anyone who invests abroad should be exempt on tax on income from those assets?

you are still arguing for a special exemption for the rich - or do you think that anyone who invests abroad should be exempt on tax on income from those assets? It would also create more loopholes. It would also create an inceniltive to invest abroad. A shift from taxing income to taxing assets instead might work. A wealth tax instead but its not easy. Land can be valued, so can publicly traded investments. What about ownership of privately held businesses or works of art? Where are yachts and aircraft taxed?

bluecalm 1y ago
There shouldn't be tax on income. There should be tax on assets. Don't tax income from land, tax land value. This also avoids a loophole that buying land and doing nothing on it means you pay very little taxes while patiently waiting for its value to increase because of other people who do productive things nearby >>or do you think that anyone who invests abroad should be exempt on tax on income from those assets Of course, those should be taxed where they are located. Much easier to tax companies where they operate than elusive "income" of increasing stock value. >>What about ownership of privately held businesse You don't need to tax wealth related to business. Your can make operating businesses more expensive by introducing taxes and fees on it and then not tax any income it still generates. EU politicians intuitively know that's the way when talking about digital tax. Just tax "IP protection" as % of revenue in your country for example. Then you will get a share of Apple or Google no matter where it's registered as long as it has revenue in your country. It's way easier to make Google generate 20% less profit than to tax 20% on its profits. It's also very easy to tax it where it's operates and not care about creative accounting tricks it uses to show less profit. The current system means people living on Cyprus pay less tax on Google value than Americans. It's just a completely stupid system that breeds abuse.

bluecalm 1y ago

There shouldn't be tax on income. There should be tax on assets. Don't tax income from land, tax land value. This also avoids a loophole that buying land and doing nothing on it means you pay very little taxes while patiently waiting for its value to increase because of other people who do productive things nearby >>or do you think that anyone who invests abroad should be exempt on tax on income from those assets Of course, those should be taxed where they are located. Much easier to tax companies where they operate than elusive "income" of increasing stock value. >>What about ownership of privately held businesse You don't need to tax wealth related to business. Your can make operating businesses more expensive by introducing taxes and fees on it and then not tax any income it still generates. EU politicians intuitively know that's the way when talking about digital tax. Just tax "IP protection" as % of revenue in your country for example. Then you will get a share of Apple or Google no matter where it's registered as long as it has revenue in your country. It's way easier to make Google generate 20% less profit than to tax 20% on its profits. It's also very easy to tax it where it's operates and not care about creative accounting tricks it uses to show less profit. The current system means people living on Cyprus pay less tax on Google value than Americans. It's just a completely stupid system that breeds abuse.