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this post was submitted on 14 Aug 2024
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politics
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Here's my vision:
The first three are great, the fourth idea is insane. Why shouldn't people pay into their government? If you're poor, like the first $25k, fine let that be tax free, but why not keep the money in the government coffers and provide single payer healthcare, free college tuition, student debt forgiveness, municipal broadband? Our taxes are not high compared to other western nations.
All wealth is created by workers... Any wealth used for the good of all society is coming from the workers same as all profit does. No need to add the middleman... Just charge it all to the corporations... First our work pays for society, only what's left over after should be considered profit
I'm not saying don't tax me. I'm saying don't tax me based on income. Tax me based on accumulated worth. Its possible to be highly paid but to have started in such a back foot that you're still in the hole. Meanwhile folks like that are paying more into society than anyone else through sales tax because they need to do things like furnish homes they bought
But if you tax based on wealth, doesn't that make home ownership less possible? Property taxes aren't going away, but now a wealth tax is going to hit property owners? Sales tax is extremely regressive. Income tax is one of the few ways to do progressive taxing.
It means you'll start paying a little more tax as value acculates in your property holding. The goal is, yes, long term property holders will pay more tax the longer they hold the land. More importantly, it'll hit landlords super hard and first time home buyers barely even a little. The goal is to tax people based on their ability to pay, and to avoid creating permanent classes where all the value created by the workers goes up the chain to the wealthy.
All you would end up doing is creating a new business for accountants to devalue someone's holdings. I assume that you are saying that the wealth will be the value of the asset less any loan against the property, because that's the only way a first-time home buyer would be taxed nearly nothing. Why wouldn't the wealthy simply take loans against their assets thereby devaluing them for the purposes of a wealth calculation? The same way that they borrow against their stock portfolio.
Eliminate all taxes on individuals, charge the whole bill for a functioning society to the corporations (preferably at the same ratio as the corporations make profit, ie if a company makes 10% of all the profit that quarter they pay 10% of the bill)... We the people democratically decide what all is included in a functioning society