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You're totally right, they're not mutually exclusive, and I am personally a fan of both. I can just see it as not necessarily a pragmatic approach. I would sim
by Eridrus 12y ago
You're totally right, they're not mutually exclusive, and I am personally a fan of both. I can just see it as not necessarily a pragmatic approach.
I would simply envisage less popular resistance to a real progressive tax on capital gains than to a basic income (see: welfare fraud), but maybe I'm wrong.
I don't have a particularly great solution to our problem, but I do think there are meaningful steps we can take between an ideal world and the real one that are better than nothing. Silicon valley should surely start paying people closer to the value they provide.
- dragonwriter 12y ago> [...] a real progressive tax on capital gains [...] What does this mean in concrete terms? We have a real (= non-imaginary, actual, existing) progressive tax on capital gains now. It's also at favorable rates (across the whole spectrum of its progressivity) compared to "regular" income, and especially favored compared to labor income (which pays payroll taxes, which are flat to regressive, on top of income taxes, which are progressive). In fact, because of payroll taxes, its arguable that we have more "real progressive taxation" of capital gains than of labor income.
- Eridrus 12y agoSorry, I should have been clearer, higher brackets and rates.