But if the taxes remain low, they won't use these loopholes because then they are pointless. And it could be harder to find them if no one is using them.

i think the biggest thing is

if you tax the higher ups

they'll just make everything more expensive to compensate

which brings us back to a lower point since money is worth even less now and people who scournged and saved say $1k for a trip that now costs $2k are working more for less where as their base salary say was $10 prior now is still $10 after but everything will cost more.

Taxing me will not help. My wealthy friends will spend less if we are taxed more.

As they walked, Tehol spoke '... the assumption is the foundation stone of Letherii society, perhaps all societies the world over. The notion of inequity, my friends. For from inequity derives the concept of value, whether measured by money or the countless other means of gauging human worth. Simply put, there resides in all of us the un-challenged belief that the poor and the starving are in some way deserving of their fate. In other words, there will always be poor people. A truism to grant structure to the continual task of comparison, the establishment through observation of not our mutual similarities, but our essential differences.

'I know what you're thinking, to which I have no choice but to challenge you both. Like this. Imagine walking down this street, doling out coins by the thousands. Until everyone here is in possession of vast wealth. A solution? No, you say, because among these suddenly rich folk there will be perhaps a majority who will prove wasteful, profligate, and foolish, and before long they will be poor once again. Besides, if wealth were distributed in such a fashion, the coins themselves would lose all value - they would cease being useful. And without such utility, the entire social structure we love so dearly would collapse.

'Ah, but to that I say, so what? There are other ways of measuring self-worth. To which you both heatedly reply: with no value applicable to labour, all sense of worth vanishes! And in answer to that I simply smile and shake my head. Labour and its product become the negotiable commodities. But wait, you object, then value sneaks in after all! Because a man who makes bricks cannot be equated with, say, a man who paints portraits. Material is inherently value-laden, on the basis of our need to assert comparison - but ah, was I not challenging the very assumption that one must proceed with such intricate structures of value?

'And so you ask, what's your point, Tehol? To which I reply with a shrug. Did I say my discourse was a valuable means of using this time? I did not. No, you assumed it was. Thus proving my point!"

Oprindeligt skrevet af Fumo Bnnuy n Friends:

i think the biggest thing is

if you tax the higher ups

they'll just make everything more expensive to compensate

which brings us back to a lower point since money is worth even less now and people who scournged and saved say $1k for a trip that now costs $2k are working more for less where as their base salary say was $10 prior now is still $10 after but everything will cost more.

Well the CIA has a non-declared budget to spend in "not official operations", + it can be treated as a "national security threat" if need be. The tools are there, but the political will is lacking.

It would increase tax evasion.

That's about it.

being rich is expensieve as it is. no need to increase the costs further

Because… the rich also own the lawmakers

Eat the rich commies when the rich just move somewhere else

Oprindeligt skrevet af Kweeb:

Wealthy individuals use various legal strategies and provisions within the U.S. tax code, often referred to as "loopholes," to minimize their tax liability. These strategies often involve minimizing traditional income and maximizing returns through investments and asset management.

We need to get rid of these first.
Hope this helps.

Congrats. You just figured out how the Reagan Era taxation policies worked. The US federal government plays a cat and mouse game with rich people money because they try to make it so that it's less painful to pay taxes than it is to find the loopholes (which aren't free).

Things are so ridiculous at this point that Mr Trillionaire (Musk) has 99% of his wealth tied up in stocks, which might as well be Monopoly money for all it's worth, because the value of such a thing exists only within the minds of speculators and those who believe their opinion on such things.

Being a billionaire should be illegal, plain and simple. No single person should hold so much resources on their hands.

"Nobody should own a billion dollars worth of fiat funny munnie which has purely speculative value based upon nothing more than unicorn farts and pixie sparkles."

Oprindeligt skrevet af Day 1:

"Nobody should own a billion dollars worth of fiat funny munnie which has purely speculative value based upon nothing more than unicorn farts and pixie sparkles."

They don`t hold money, they have all this in resources and land.

Taxes on rich is about as low in Europe as it is in USA. Cost of living however seems way worse in USA than Europe as people feel the need of earning over $200k despite median being like $60k.

Oprindeligt skrevet af Rumpelcrutchskin:

Oprindeligt skrevet af Day 1:

"Nobody should own a billion dollars worth of fiat funny munnie which has purely speculative value based upon nothing more than unicorn farts and pixie sparkles."

They don`t hold money, they have all this in resources and land.

Then they aren't billionaires.
Make up your mind.

There's a difference between someone's "Net worth" and what they actually have in their bank account