Here we go
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I have a serious problem with a wealth tax, just as with the estate tax.
“I am fond of pigs. Dogs look up to us. Cats look down on us. Pigs treat us as equals.” ~Winston S. Churchill
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@mik Don't forget an investment tax...
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Wealth tax should be instituted.
Capital gains and estate taxes should be raised.
If we claim to value "work" and want to encourage "work," then we ought to tax income from "work" less than we tax other types of incomes, such as those from investments, inheritances, or rent-seeking.
Acute concentration of wealth does a society no good. You want the tilt the balance more towards encouraging "work" rather than just let money automatically make more money just because there is a big pile of it.
Set a high threshold so there is still lots of incentives for lots of people to accumulate wealth. E.g., the estate tax does not kick in for the first $11.58million of the assets, you can craft a similarly high threshold for when a wealth tax gets triggered. But start closing the gap between capital gains tax and marginal earned income tax beyond certain threshold and start taxing wealth beyond certain threshold.
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Wealth tax should be instituted.
Capital gains and estate taxes should be raised.
If we claim to value "work" and want to encourage "work," then we ought to tax income from "work" less than we tax other types of incomes, such as those from investments, inheritances, or rent-seeking.
Acute concentration of wealth does a society no good. You want the tilt the balance more towards encouraging "work" rather than just let money automatically make more money just because there is a big pile of it.
Set a high threshold so there is still lots of incentives for lots of people to accumulate wealth. E.g., the estate tax does not kick in for the first $11.58million of the assets, you can craft a similarly high threshold for when a wealth tax gets triggered. But start closing the gap between capital gains tax and marginal earned income tax beyond certain threshold and start taxing wealth beyond certain threshold.
@axtremus said in Here we go:
Wealth tax should be instituted.
Tax 'em twice!
estate taxes should be raised
Tax 'em twice, again!
encouraging "work"
Oh. My. Sides. You mean like the COVID relief for 21 weeks for federal workers? C'mon, man!
'Splain to me how raising taxes on income, wealth, estates, encourages "work?" If I'm going to be taxed more, there's a point where I'll just say, "Screw it, it's not worth the effort."
"Now look here, you Baltic gas passer... " - Mik, 6/14/08
The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.
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Wealth tax should be instituted.
Capital gains and estate taxes should be raised.
If we claim to value "work" and want to encourage "work," then we ought to tax income from "work" less than we tax other types of incomes, such as those from investments, inheritances, or rent-seeking.
Acute concentration of wealth does a society no good. You want the tilt the balance more towards encouraging "work" rather than just let money automatically make more money just because there is a big pile of it.
Set a high threshold so there is still lots of incentives for lots of people to accumulate wealth. E.g., the estate tax does not kick in for the first $11.58million of the assets, you can craft a similarly high threshold for when a wealth tax gets triggered. But start closing the gap between capital gains tax and marginal earned income tax beyond certain threshold and start taxing wealth beyond certain threshold.
@axtremus said in Here we go:
Wealth tax should be instituted.
Capital gains and estate taxes should be raised.
If we claim to value "work" and want to encourage "work," then we ought to tax income from "work" less than we tax other types of incomes, such as those from investments, inheritances, or rent-seeking.
Acute concentration of wealth does a society no good. You want the tilt the balance more towards encouraging "work" rather than just let money automatically make more money just because there is a big pile of it.
Set a high threshold so there is still lots of incentives for lots of people to accumulate wealth. E.g., the estate tax does not kick in for the first $11.58million of the assets, you can craft a similarly high threshold for when a wealth tax gets triggered. But start closing the gap between capital gains tax and marginal earned income tax beyond certain threshold and start taxing wealth beyond certain threshold.
Coz people richer than me are Evil.
And the government can be trusted to spend the money sooooo wisely and well.
The Brad
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Wealth tax should be instituted.
Capital gains and estate taxes should be raised.
If we claim to value "work" and want to encourage "work," then we ought to tax income from "work" less than we tax other types of incomes, such as those from investments, inheritances, or rent-seeking.
Acute concentration of wealth does a society no good. You want the tilt the balance more towards encouraging "work" rather than just let money automatically make more money just because there is a big pile of it.
Set a high threshold so there is still lots of incentives for lots of people to accumulate wealth. E.g., the estate tax does not kick in for the first $11.58million of the assets, you can craft a similarly high threshold for when a wealth tax gets triggered. But start closing the gap between capital gains tax and marginal earned income tax beyond certain threshold and start taxing wealth beyond certain threshold.
@axtremus said in Here we go:
income from "work" less than we tax other types of incomes, such as those from investments, inheritances, or rent-seeking.
For a lot of people those things represent work
Income tax and wealth tax are bad for everyone
Even for democrats that have absolutely no clue what they are talking about
All they know is hate for people they don't understand
Hate
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@axtremus said in Here we go:
Wealth tax should be instituted.
Tax 'em twice!
estate taxes should be raised
Tax 'em twice, again!
encouraging "work"
Oh. My. Sides. You mean like the COVID relief for 21 weeks for federal workers? C'mon, man!
'Splain to me how raising taxes on income, wealth, estates, encourages "work?" If I'm going to be taxed more, there's a point where I'll just say, "Screw it, it's not worth the effort."
@george-k said in Here we go:
'Splain to me how raising taxes on income, wealth, estates, encourages "work?" If I'm going to be taxed more, there's a point where I'll just say, "Screw it, it's not worth the effort."
High threshold, e.g., the first $11.58million being "tax free" per the estate tax example. And the fact that if you stop working, your wealth will be slowly taxed back down to that threshold -- that's an incentive to keep you working.
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@axtremus said in Here we go:
Wealth tax should be instituted.
Capital gains and estate taxes should be raised.
If we claim to value "work" and want to encourage "work," then we ought to tax income from "work" less than we tax other types of incomes, such as those from investments, inheritances, or rent-seeking.
Acute concentration of wealth does a society no good. You want the tilt the balance more towards encouraging "work" rather than just let money automatically make more money just because there is a big pile of it.
Set a high threshold so there is still lots of incentives for lots of people to accumulate wealth. E.g., the estate tax does not kick in for the first $11.58million of the assets, you can craft a similarly high threshold for when a wealth tax gets triggered. But start closing the gap between capital gains tax and marginal earned income tax beyond certain threshold and start taxing wealth beyond certain threshold.
Coz people richer than me are Evil.
And the government can be trusted to spend the money sooooo wisely and well.
@lufins-dad said in Here we go:
And the government can be trusted to spend the money sooooo wisely and well.
We the people elect those who make up the government. We the people determine to whom we entrust the power of the purse.
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@mik said in Here we go:
So you wish to enslave the successful.
Just to discourage sloth by wealth beyond certain threshold. Don't forget the estate tax part of it -- you get to have a leg up for having rich parents, just not exempt from having to work to build further wealth or maintain your inherited wealth beyond certain threshold.
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@mik said in Here we go:
So you wish to enslave the successful.
Just to discourage sloth by wealth beyond certain threshold. Don't forget the estate tax part of it -- you get to have a leg up for having rich parents, just not exempt from having to work to build further wealth or maintain your inherited wealth beyond certain threshold.
@axtremus said in Here we go:
@mik said in Here we go:
So you wish to enslave the successful.
Just to discourage sloth by wealth beyond certain threshold. Don't forget the estate tax part of it -- you get to have a leg up for having rich parents, just not exempt from having to work to build further wealth or maintain your inherited wealth beyond certain threshold.
It is not the government's job to plan anyone's life
It is, in fact, none of their business
And none of yours either
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@axtremus said in Here we go:
@mik said in Here we go:
So you wish to enslave the successful.
Just to discourage sloth by wealth beyond certain threshold. Don't forget the estate tax part of it -- you get to have a leg up for having rich parents, just not exempt from having to work to build further wealth or maintain your inherited wealth beyond certain threshold.
It is not the government's job to plan anyone's life
It is, in fact, none of their business
And none of yours either
