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Wouldnt it be easier just to tax all income above say $200,000 (minimum wage in SV) at 100%. If a net worth of $2 mil is considered outrageous then surely that
by blitzar 1y ago
Wouldnt it be easier just to tax all income above say $200,000 (minimum wage in SV) at 100%.
If a net worth of $2 mil is considered outrageous then surely that kind of salary would be considered equally so.
- evandijk70 1y agoMost net worths over $2 mil are created by growth in share value, not by income/salary.
- blitzar 1y agoIf you dont have any disposible income then you wont have any investments to grow in value.
- vorpalhex 1y agoMost income for high earning tech workers is in stocks and share value.
- blitzar 1y agoWe can tax stock grants at 100%
- sam_lowry_ 1y agoYou can also tax stocks yearly at a fixed rate, e.g. 2%.
- blitzar 1y agoYou can also tax stocks yearly at a fixed rate, e.g. 100%.
- sam_lowry_ 1y agoNope, 2% because they grow by 6% on average for the last 30 years.
- _DeadFred_ 1y agoIf that value is recognized in a beneficial way (such as unlocking loans against it or using it as collateral at a specific recognized amount of value) it should be taxed at the point of value recognition for the amount of benefit recognized.
- JAlexoid 1y agoWe have to reframe how taxes are viewed, by the wealthy. There should be no wealth tax, but above a certain threshold - there should be a maintenance fee associated with the wealth. I get charged maintenance fee by my mutual funds, for example. One of the purposes of the government is to protect and secure property... and that is what ultra wealthy are getting for a fraction of what they should be paying.
- blitzar 1y agoCapital gains should be taxed like income. Fuel for private jets should be taxed like fuel for a car. The corporations that generated large quantities of wealth for their owners should pay decent wages for their employees. There is a lot of low hanging fruit.
- JAlexoid 1y ago> Capital gains should be taxed like income. Arguably capital gains should be taxed at a higher rate than income. But that's not going to happen, because your home's change in value is capital gains.
- antisthenes 1y agoHomes already have giant flat exemptions for gains when sold.
- koolba 1y agoThe purpose of which is to encourage mobility. Sack that tax credit and watch the housing market becomes even more illiquid.
- vorpalhex 1y agoSo the wealthy will do what you and I do: shop for the best rate. That rate will not be where you and I live. It will be some tiny foreign government.