Donald Trump has made his direction for federal taxes clear. Lower. But so has President Biden, who wants to wallop Americans with a $5 trillion tax increase.
Taxing unrealized gains would be unconstitutional.
That’s why I specified you may call it whatever you wish to. The important bit is not the words used, it’s the fact that less taxes are paid. Going back to the Oxfam report I linked: “Worldwide, only four cents in every tax dollar now comes from taxes on wealth.” and “A billionaire gained roughly $1.7 million for every $1 of new global wealth earned by a person in the bottom 90 percent.”
No matter how those facts are coming to be real, or how you wish to fix it, or what you want to call it, that is the situation I would like to have remedied by taxation or other forced redistribution of wealth. I’m not even full communist or anything - I firmly believe we need distinct economic tiers to encourage people to perform. You don’t get enough surgeons if you pay everyone a cashier’s wage regardless of job. But there’s a huge amount of room for correcting wealth inequality that allows the wealthy to enjoy the best life has to offer while still preventing the (IMO) injustice of current economic reality.
That’s why I specified you may call it whatever you wish to. The important bit is not the words used, it’s the fact that less taxes are paid. Going back to the Oxfam report I linked: “Worldwide, only four cents in every tax dollar now comes from taxes on wealth.” and “A billionaire gained roughly $1.7 million for every $1 of new global wealth earned by a person in the bottom 90 percent.”
No matter how those facts are coming to be real, or how you wish to fix it, or what you want to call it, that is the situation I would like to have remedied by taxation or other forced redistribution of wealth. I’m not even full communist or anything - I firmly believe we need distinct economic tiers to encourage people to perform. You don’t get enough surgeons if you pay everyone a cashier’s wage regardless of job. But there’s a huge amount of room for correcting wealth inequality that allows the wealthy to enjoy the best life has to offer while still preventing the (IMO) injustice of current economic reality.
Agreed. Success and risk should be rewarded.
In my opinion the whole tax system needs to be redesigned. It’s a total shitshow and most people have no clue how it works.
I earn in the top 5%. People think trump gave that bracket a huge tax break. He didn’t. It increased my taxes significantly.
The only thing I’m against changing is taxing wealth.