Comment on Income Tax Is Theft

• sahin@lemmy.world ⁨4⁩ ⁨hours⁩ ago

  Like, 75% of billionaires get it by inheritance. Wealth can increase without income, Elon Musk doesnt have an income, it has wealth. A person with a land that 100x’ed in 10 years doesnt have an income, but his wealth increases.
  Elon buys Twitter without liqudating his wealth. Similarly, every rich does it. The taxes are mostly paid by the workers, while the rich pays near 0 tax.
  You get me?
  When you tax wealth, not work, a person with 30K a year income, now has 40K, while the house he wants to buy was 200K, now 150K because people dont want to pay this tax, and they sell their 100 houses.

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  • MentalEdge@sopuli.xyz ⁨3⁩ ⁨hours⁩ ago

    And would a “wealth” tax not have an inherent loophole in that the “rich” could avoid paying tax by simply spending faster than they earn, or even staying in debt, as many “milllionares” do?

    And would it not punish poor people who try to save up, by taxing them more the more they save up?

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    • sahin@lemmy.world ⁨3⁩ ⁨hours⁩ ago

      They are already doing this. 'Spending faster than they earn" you are still thinking like income tax. They need to spend their wealth. Staying in debt, like they need to borrow money, what are they gonna do with the money? They still need to buy something which increases their wealth.

      So, think about wealth, not income. If you think like this, we will never be able to tax the rich. If that’s what you want, Idk

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      • MentalEdge@sopuli.xyz ⁨3⁩ ⁨hours⁩ ago

        They are already doing this. 'Spending faster than they earn"

        Yea. I said that.

        as many “milllionares” do

        you are still thinking like income tax

        What do you mean by income tax? Because clearly you aren’t uderstanding what I mean.

        I mean ALL income. Of any kind. No loopholes. The problem isn’t conceptual. It’s practical

        You’re arguing for a complete conceptual shift for no reason, when what’s really needed, is just look tat how the rich ar avoiding taxation, and closing the legal loopholes they use. Which your “wealth tax” won’t do. Especially as “wealth” doesn’t actually have a value until it’s bought or sold.

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  • MentalEdge@sopuli.xyz ⁨3⁩ ⁨hours⁩ ago

    That doesn’t answer my question.

    A workers salary ≠ Income

    It’s one form of it.

    Stocks are income. Inheritance is income. Land appreciation is income.

    How is your conceptual wealth tax, not just the same as what income tax should already be.

    The problems you list are all loopholes in the applicable laws, not income tax as a concept.

    You get me?

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