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This idea of retroactive taxes may have legs. Rich people can often reconfigure their future earnings in response to upcoming changes. But they can't change pas
by gojomo 14y ago
This idea of retroactive taxes may have legs. Rich people can often reconfigure their future earnings in response to upcoming changes. But they can't change past income – or even better, income from years whose returns have already been filed. Perhaps the revenue-hungry states will discover that the only tax increase that can't be skillfully avoided is one on already-admitted income, say from 2009. Or to pick a real bumper year for California tax revenues, 1999.
- talmand 14y agoIf this happened in a large enough scale the result of the lawsuits surely to be filed to combat it would be interesting. Scary thought though, considering being able to assign a retroactive tax in such a way. Doing a retroactive tax that reaches back to the beginning of the current year is one thing, reaching back to previous years after taxes filed and paid are another.