How do you feel about limiting loans against assets and total wealth based taxes?
In general I try to avoid talking about these things because people get touchy and act like the situation is hopeless. Captial Gains taxes does have an affect and it does improve the situation. And obviously what you brought up are clear concerns with how it is often setup today. So I’m interested in how we could continue to make things better in that regard
Yes that’s why I said “total wealth based taxes.” If you want to make a meaningful contribution to the conversation maybe actually read what other people are talking about
I get it. You want dialogue, discussion, and deliberation. Nothing hasty.
There are lots of angles to consider, and one thing for sure is no one ever gave them much thought.
Perhaps it would take at least two more decades of development and planning to achieve any kind of tax code that is more sensible and equitable than the one currently in place.
I’m not really in favor of a wealth tax. Maybe, if we really need to claw back our mistakes, but I think there are better approaches.
A tax on loans based on wealth seems great though. If you have the wealth, why are you borrowing? What are the legitimate uses of secured loans?
Capital gains taxes should be higher than payroll taxes. Always and forever.
Marginal tax rates exist for a reason, and it’s absurd that we stop progressive taxation after $700k. The difference between making $800k/year and making $15m/year is ridiculous. At $800k/year you at least want to make the business last for a decade. After you cash out for $15m in a year, are you really accountable to anyone?
How do you feel about limiting loans against assets and total wealth based taxes?
In general I try to avoid talking about these things because people get touchy and act like the situation is hopeless. Captial Gains taxes does have an affect and it does improve the situation. And obviously what you brought up are clear concerns with how it is often setup today. So I’m interested in how we could continue to make things better in that regard
I’m just spitballing here, but maybe the solution is just, like, you know, tax the rich…?
I mean, really tax them, you know, all in, no bars, just get in there, and tax the hell right out of them.
Whad’ya say? Think it might work?
Yes that’s why I said “total wealth based taxes.” If you want to make a meaningful contribution to the conversation maybe actually read what other people are talking about
I get it. You want dialogue, discussion, and deliberation. Nothing hasty.
There are lots of angles to consider, and one thing for sure is no one ever gave them much thought.
Perhaps it would take at least two more decades of development and planning to achieve any kind of tax code that is more sensible and equitable than the one currently in place.
I’m not really in favor of a wealth tax. Maybe, if we really need to claw back our mistakes, but I think there are better approaches.
A tax on loans based on wealth seems great though. If you have the wealth, why are you borrowing? What are the legitimate uses of secured loans?
Capital gains taxes should be higher than payroll taxes. Always and forever.
Marginal tax rates exist for a reason, and it’s absurd that we stop progressive taxation after $700k. The difference between making $800k/year and making $15m/year is ridiculous. At $800k/year you at least want to make the business last for a decade. After you cash out for $15m in a year, are you really accountable to anyone?