>> First and foremost, any system of taxation is about values. And a much higher rate of capital taxation would undermine some of America’s core values.
Is it just me, or taxation is about everyone paying their fair share?
Is it just me, or taxation is about everyone paying their fair share?
Wouldn't "fair share" be defined as how many/much of the government offerings you use?
So how is it that someone making $1m/yr in exchanges is somehow using MORE government offerings and therefore has to pay more in order to keep up with their "fair share"? Do they somehow use more roads because they have equities? Perhaps they use the sewage system more? Use more welfare dollars? Use more school?
Just makes no sense. It's straight up inequality and classism.
one way to rationalize it is like insurance. someone protecting a 100K house pays much less than someone protecting a 500K house. It might not be linear with the value of the house.
Your share of the military is larger than someone that makes less because the military is creating more value for you by protecting more assets.
Your share of the SEC is because you receive more value from the SEC than the poor
etc
It is value based taxation instead of cost based taxation.
Is that really less fair?
In the end the only thing that matters is 1) enough taxation to pay for the things "the people" want. 2) minimize the drag that taxation causes on the economy.
I'm pretty sure if a startup tried to use cost-based pricing instead of value-based pricing, they would get told that they were idiots.
Jeff Bezos and Elon Musk certainly get a lot more value out of roads existing than most people do. Their entire business is dependent on it.