Inequality | 55 comments (55 topical, editorial, 0 hidden)

crankykarsten

I always have problems with wealth being taxed because it is expropriation. I prefer a tax on income, regardless of the source of that income (e.g. salary, dividends, rents...).

This might be fine had we not already allowed income distribution to become so skewed towards the top. Since we have, especially in the USA, refusing to tax wealth simply enshrines the existing, destructive pattern.

"It is not necessary to have hope in order to persevere."

by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Fri Jan 20th, 2012 at 10:50:15 AM EST
[ Parent ]

Re: Inequality (none / 0)

to solve that problem I would propose an inheritance tax.

But you are right, maybe we need a transition period where wealth is taxed. But IMHO that will be politiclly impossible to do unless we have a big revolution...

So I would concentrate on a no-loopholes tax on all income. Just look at the current debate in the US Presidential race and Mitt Romneys low tax and wealth which has resulated to a big part because of that low tax...

by crankykarsten (cranky (where?) gmx dot organisation) on Fri Jan 20th, 2012 at 10:59:17 AM EST
[ Parent ]

Re: Inequality (none / 0)

We could enact an 'alternative minimum tax', but this time with the minimum being about 30% and the threshold being, say, $500,000/yr. and a lower level of 20% with a threshold of, say, $200,000/yr. Both of those levels are well into 1% territory. But I dream, even if they are relatively modest dreams. The story of my life. :-)

"It is not necessary to have hope in order to persevere."

by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Fri Jan 20th, 2012 at 10:44:39 PM EST
[ Parent ]

Inequality | 55 comments (55 topical, 0 editorial, 0 hidden)

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