[blitzar]

Wouldnt it be easier just to tax all income above say $200,000 (minimum wage in SV) at 100%.

If a net worth of $2 mil is considered outrageous then surely that kind of salary would be considered equally so.

[evandijk70]

Most net worths over $2 mil are created by growth in share value, not by income/salary.

[_DeadFred_]

If that value is recognized in a beneficial way (such as unlocking loans against it or using it as collateral at a specific recognized amount of value) it should be taxed at the point of value recognition for the amount of benefit recognized.

[vorpalhex]

Most income for high earning tech workers is in stocks and share value.

[blitzar]

We can tax stock grants at 100%

[sam_lowry_]

You can also tax stocks yearly at a fixed rate, e.g. 2%.

[blitzar]

You can also tax stocks yearly at a fixed rate, e.g. 100%.

[sam_lowry_]

Nope, 2% because they grow by 6% on average for the last 30 years.

[blitzar]

If you dont have any disposible income then you wont have any investments to grow in value.

[JAlexoid]

We have to reframe how taxes are viewed, by the wealthy.

There should be no wealth tax, but above a certain threshold - there should be a maintenance fee associated with the wealth. I get charged maintenance fee by my mutual funds, for example.

One of the purposes of the government is to protect and secure property... and that is what ultra wealthy are getting for a fraction of what they should be paying.

[vorpalhex]

So the wealthy will do what you and I do: shop for the best rate.

That rate will not be where you and I live. It will be some tiny foreign government.

[archagon]

They talk the big talk, but when push comes to shove, most still want to live in places with cachet and culture, not some tax haven in the boonies.

[sam_lowry_]

A big government with military bases around the world could extend its tax base even to that tiny government.

[vorpalhex]

Bombing people for more tax revenue seems like the wrong thing.

[sam_lowry_]

Not bombing, a threat would suffice.

[vorpalhex]

So we should bully people for tax revenue?

And when some of those people say no? That seems like either a short lived con or very quickly we are bombing people.

Why not just literally put a gun to someones head and rob them then? Skip the middlemen. Bombs are expensive as is jet fuel.

[blitzar]

Capital gains should be taxed like income. Fuel for private jets should be taxed like fuel for a car. The corporations that generated large quantities of wealth for their owners should pay decent wages for their employees.

There is a lot of low hanging fruit.

[JAlexoid]

> Capital gains should be taxed like income.

Arguably capital gains should be taxed at a higher rate than income. But that's not going to happen, because your home's change in value is capital gains.

[antisthenes]

Homes already have giant flat exemptions for gains when sold.

[koolba]

The purpose of which is to encourage mobility. Sack that tax credit and watch the housing market becomes even more illiquid.