So, I work hard, my ass off, 5 days a week, 11 months a year, and I pay 1/3 or 1/4th of it so that pidophiles dont pay taxes.
Income tax, VAT, property selling tax are all theft. There is no logic behind it.
The taxes that should exist is: Wealth tax, nature tax for the businesses that damage nature, and that is it. And no tax should be over 5%.
Wealth tax: 0%, income tax: 30% this is unacceptable. You either pay no taxes or you pay everything as tax.
I actually calculated it, and yearly 2.5% of wealth tax should be enough. And also, countries have a lot of resources, that also can help their budget, like mines or rented lands that are owned by government etc.
If we taxed wealth, not work, we could buy our houses way easier, we could buy land way easier, we could find a job way easier because we are not gonna pay income and vat, businesses will be able to hire people freely, and everybody can own a business easily. Nowadays, if you are poor it is so hard to create a business. You have a lot of expenses.
In the current system, yeah. It’s just extortion of the poor.
Inherently, though, taxes are good. They just need to actually be collected fairly and proportionally, which, again, the current system does not do because it is corrupt.
Yeah, I hate the whole “taxation is theft” argument. Motherfucker, taxation is cooperation. I want our roads paved, our children educated, our people healthy, our science interesting and our infrastructure strong. I’m willing to chip in for that.
I do agree with OP though that the current system and government is fucked.
I think the better argument proceeds that taxes disincentivize the taxpayer from continuing the taxed behavior — for instance, raising taxes on cigarettes reduces the amount of smoking, or raising taxes on alcohol reduces alcohol consumption. As a society, we inherently want people to work and strive to have higher incomes, so an income tax is counterproductive.
But most other taxes we have are more regressive than an income tax so I’d be pretty skeptical of anyone claiming they have a new taxation policy that eliminates the income tax.
Actually no that is not healthy for any group of people, the goal should be raise all people’s resources, not just a few or some & not just money, & that is what income tax is supposed to do. If you are in a Political Left society, over a Capitalist or Feudalist (which we are now moving into) society.
I don’t think my view of economics distinguishes between increasing all people’s incomes and raising all people’s resources, excepting scenarios where we have all things in common (which I am broadly amenable to, but there are logistical problems that remain to be solved).
This for all repliers & OP who think taking away The Wealth Tax is good idea that benefits all people. If you are for taking away Wealth Taxing, which was created to even out resources available for each economic classes, than you for leaving money & resources in the hands of Rich-Super Rich Economic Classes/Owners. Which even at 90+% taxing (with no loopholes) of their wealths, they would still have enough to easy be rich. Plus the non-Rich-Super Rich Economic Classes/Owners would have programs that increase their money & resources removed & thus drastically continuing negatively affect their lives. I & the rest of the unemployed & poor people do not have enough income to be effected, thus no we will not taxed by 30% or any percentage. Yes, the employees, non-poor & non-Rich-Super Rich Economic Classes/Owners pay taxes, but they do not have enough wealths to pay wealth tax, too higher, but is because theRich-Super Rich Economic Classes/Owners pay so little in taxes. & you on top that want to take away wealths taxes that you qualify to pay.
Taxes are good, income tax isn’t
What is the difference between income tax and your “wealth” tax?
Is it not just the exact same thing, but applied at a different point in the process?
If you’re about to answer that wealth can increase in value without income… That’s still income. Which a lot of countries do tax when someone goes to liquidate an asset that has appreciated in value.
Like, 75% of billionaires get it by inheritance. Wealth can increase without income, Elon Musk doesnt have an income, it has wealth. A person with a land that 100x’ed in 10 years doesnt have an income, but his wealth increases.
Elon buys Twitter without liqudating his wealth. Similarly, every rich does it. The taxes are mostly paid by the workers, while the rich pays near 0 tax.
You get me?
When you tax wealth, not work, a person with 30K a year income, now has 40K, while the house he wants to buy was 200K, now 150K because people dont want to pay this tax, and they sell their 100 houses.
That doesn’t answer my question.
A workers salary ≠ Income
It’s one form of it.
Stocks are income. Inheritance is income. Land appreciation is income. If you give me 50 bucks as a gift, that’s income.
How is your conceptual wealth tax, not just the same as what income tax should already be?
The problems you list are all loopholes in the applicable laws, not income tax as a concept.
You get me?
And would a “wealth” tax not have an inherent loophole in that the “rich” could avoid paying tax by simply spending faster than they earn, or even staying in debt, as many “milllionares” do?
And would it not punish poor people who try to save up, by taxing them more the more they save up?
Would it not make renting vs owning even more of a problem? Poor people would be encouraged to rent as much as possible in order to have as little “wealth” as possible? While the rich could continue to charge whatever they want to cover the costs.
They are already doing this. 'Spending faster than they earn" you are still thinking like income tax. They need to spend their wealth. Staying in debt, like they need to borrow money, what are they gonna do with the money? They still need to buy something which increases their wealth.
So, think about wealth, not income. If you think like this, we will never be able to tax the rich. If that’s what you want, Idk
Yea. I said that.
What do you mean by income tax? Because clearly you aren’t understanding what I mean.
I mean ALL income. Of any kind. No loopholes. The problem isn’t conceptual. It’s practical. The law hasn’t kept up with the bookkeeping shenanigans the rich get up to. In fact, the rich actively influence current legislation to their benefit.
You’re arguing for a complete conceptual shift for no reason, when the actual problem is corruption.
What’s really needed, is just look at how the rich are avoiding taxation, and closing the legal loopholes they use. Which your “wealth tax” won’t do. Especially as “wealth” doesn’t actually have a value until it’s bought or sold.
Wealth has a value, land can be valued easily, we have data for years all around websites and in government about the lands everywhere. The houses are also like this. You can value a company by the factories it has people it employs etc, money it earns etc. This three is more than enough. The rest of wealth may not count, it is not important.
You cant fix loopholes without taxing all billionaires until none exists, because they will constantly bribe government. Even if you fixed loopholes, they will create intentionally.
Exactly. How is your proposal a solution?
Of course assets have value. But to tax them fairly, that value needs to be defined! Impartially, too boot! And can you imagine the governmental overhead of constantly defining the values of shifting assets for tax purposes, regardless whether they are being bought or sold?
Your suggestion is as exploitable as the current system. Maybe worse!