221–230 of 734 posts
This year the Federal Reserve bought bonds of Apple. Why?
Taxing wealth is trying to fix the system at the end point instead of fixing it at the source of the problem.
https://www.cnbc.com/2020/06/29/the-fed-is-buying-some-of-th...
Earlier quoted context omitted.
So 1% pays 46% of the taxes. Do they own more or less than 46% of the total capital? Because if they own more than 46% they should be paying more taxes. It doesn't matter that they are only 1% of people. What matters is how much they own (or at least how much they earn).
Sincere question: shouldn't the rate of taxation be more related to, say, the proportional amount of government services you consume and the benefits you receive from the presence of the government? Undoubtedly, everyone benefits from the government in ways that are hard to quantify (e.g. what percentage of Joe Random's assets is due to the stability caused by the existence of the Federal Reserve), but at the same ti…
Long live the libertarian oligarchy.
Earlier quoted context omitted.
If California were well run, sure. Do something about the housing and homeless crisis and we’ll talk. California doesn’t have a money problem. They have a lack of political will problem and an incompetence (or corruption) problem. The state is held hostage by NIMBYs and is chronically unable to build infrastructure. Look at the high speed train disaster for an example of the latter. NIMBYs ensure that any money or ef…
> Do something about the housing and homeless crisis and we’ll talk You do realize a wealth tax is one way to bring in income to try to fix these problems right? You guys don't even have universal healthcare in the middle of a global pandemic. Laughably sad.
This proposal is 0.4% tax on wealth above $30m. The Dutch equivalent is 1.6% tax on wealth above €1m. The number of Ultra High Net Worth Individuals in the Netherlands is still increasing.
Earlier quoted context omitted.
How real are those billion dollar valuations? Seems to me like it’s primarily a bunch of VCs in a term sheet circle jerk.
They’re real enough for the IRS to want their cut when you vest stocks or exercise options that you can’t sell.
Well I guess I'll take the apparently bold stance here that this isn't the end of Silicon Valley or California and yes this is fair and further, good. When people are getting 5-6% returns on investments (minimum), 0.4% is still not even stopping the rich get richer effect. Not to mention that it's almost certain no one here will ever be touched by this tax. If you're going to move where you live or significantly alte…
This proposal is 0.4% tax on wealth above $30m. The Dutch equivalent is 1.6% tax on wealth above €1m. The number of Ultra High Net Worth Individuals in the Netherlands is still increasing.
Not big fan of taxes in general but I find the whole 'wealth' tax to be especially odious. Why not call it what it is, a pre-death estate tax? If the government is to tariff/tax, it should be done at the time of use or income generation/realization one time. Unfortunately double jeopardy laws seem not to apply to capital.
Another democratic agreement is that you are allowed and encouraged to own capital. (That's why it's called 'capitalism', to distinguish it from other possibilities)
Earlier quoted context omitted.
I see it the opposite way around. We should only have a wealth tax and no income taxes. Capitalism means capital that earns for you while you sleep. Those who benefit the most from the system should pay for it. With only a wealth tax more people would have the means to amass wealth and there would be a greater incentive to spend rather than sit on money which would be good for the health and dynamism of the economy.
> Capitalism means capital that earns for you while you sleep. If it earns for you while you sleep then it is also taxed while you sleep. Income is income: the tax man doesn’t care where it comes from.
Well I guess I'll take the apparently bold stance here that this isn't the end of Silicon Valley or California and yes this is fair and further, good. When people are getting 5-6% returns on investments (minimum), 0.4% is still not even stopping the rich get richer effect. Not to mention that it's almost certain no one here will ever be touched by this tax. If you're going to move where you live or significantly alte…