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The current issue I feel with taxing is that, at least in USA, it mostly taxes based on Salary on Employees, but never tax on the capital or the actual wealth.
by 1997cui 2mo ago
The current issue I feel with taxing is that, at least in USA, it mostly taxes based on Salary on Employees, but never tax on the capital or the actual wealth.
Tax the rich means: Increase W2 tax and property tax which, takes money away from me to feed lower middle class
Tax cut means: Reduce the estate tax and cooperate tax, keep the W2 tax flat, and cut the benefits that most critical to the bottom: Food stamps while keep other unnecessary programs unchanged: Discounted Toll for low income when driving in HOV lanes.
- danny_codes 2mo agoI'm reading Piketty's book now and it's not isolated to the US. Once you hit a certain wealth in most OECD countries, you just stop paying taxes. All that is required is to not take any income, which is easily done. So the top of the "income" distribution is a lie. When we say "top 1% pay X of all taxes", we're talking about the top 1% income earners, not the 1% who have the most wealth, or even the 1% who have increased their wealth the most over the last year. Piketty is clearly correct with his minimum wealth tax proposal. It does seem the only way to tax people who never realize income.