The amount I have lost in taxes alone would have set me and my family up for life.
The only question is would I have been paid as much if the cost of living was not so high? And would less taxes had an effect on the cost of living and what I got paid.
The problem with taxes is I have no choice. And when over 50% of my income goes to taxes it feels like robbery.
The tax system is specific designed to also keep those with more at odds with those who have less. Otherwise we would vote takes out in a heartbeat. We can’t really talk about taxes as one people until we all pay the same %. A fair share is not knows when more % simply because I made more. A % already bakes in fairness.
So I propose our first tax reform is everybody pays 51% on all forms of income. One term later we would have true tax reform that actually made sense.
IMO, everyone should pay taxes on gross assets worldwide. Companies too. Everyone.
This should be a relatively low amount, but it sets the baseline for everything else. Wealthy people who have no visible income still get caught. Movie companies that never officially make a dime on a given movie will still get caught. Trillion-dollar companies still have to pay their fair share, just like everyone else.
Then they should pay an additional proportional tax on net income, above a certain threshold which is determined by the median net income in that jurisdiction.
For companies, they should also be taxed based on market capitalization, worldwide. You don’t get to be a trillion-dollar company and not pay taxes on that.
The problem is this money goes through an incompetent government that can't even build a train anymore. Maybe 30 years ago the story would be different but that's why more taxes is never a good idea. The functioning governments will always decay into incompetence and if they have billions of dollars more to waste, they will.
People incorrectly think this is defending billionaires, but it's actually them defending government. We really should rethink how this wealth flows down, and it should be a more direct line. Maybe instead of a tax it's some kind of obligation to fund non-profit orgs of their choosing.
I just don’t know why people think companies will still be founded there if these things go into practice. When you tell people that they can save billions by leaving they probably will
Good riddance. If they would rather lose access to one of the most lucrative markets ever to have existed than pay a small share of their dragon's horde, then we won't miss them.
The correct takeaway from this is that the AMT should be reformed, not that seizing large portions of founders' companies is fine.
We only do this because the government is greedy.
The amount I have lost in taxes alone would have set me and my family up for life.
The only question is would I have been paid as much if the cost of living was not so high? And would less taxes had an effect on the cost of living and what I got paid.
The problem with taxes is I have no choice. And when over 50% of my income goes to taxes it feels like robbery.
The tax system is specific designed to also keep those with more at odds with those who have less. Otherwise we would vote takes out in a heartbeat. We can’t really talk about taxes as one people until we all pay the same %. A fair share is not knows when more % simply because I made more. A % already bakes in fairness.
So I propose our first tax reform is everybody pays 51% on all forms of income. One term later we would have true tax reform that actually made sense.
IMO, everyone should pay taxes on gross assets worldwide. Companies too. Everyone.
This should be a relatively low amount, but it sets the baseline for everything else. Wealthy people who have no visible income still get caught. Movie companies that never officially make a dime on a given movie will still get caught. Trillion-dollar companies still have to pay their fair share, just like everyone else.
Then they should pay an additional proportional tax on net income, above a certain threshold which is determined by the median net income in that jurisdiction.
For companies, they should also be taxed based on market capitalization, worldwide. You don’t get to be a trillion-dollar company and not pay taxes on that.
The problem is this money goes through an incompetent government that can't even build a train anymore. Maybe 30 years ago the story would be different but that's why more taxes is never a good idea. The functioning governments will always decay into incompetence and if they have billions of dollars more to waste, they will.
People incorrectly think this is defending billionaires, but it's actually them defending government. We really should rethink how this wealth flows down, and it should be a more direct line. Maybe instead of a tax it's some kind of obligation to fund non-profit orgs of their choosing.
I just don’t know why people think companies will still be founded there if these things go into practice. When you tell people that they can save billions by leaving they probably will
Good riddance. If they would rather lose access to one of the most lucrative markets ever to have existed than pay a small share of their dragon's horde, then we won't miss them.
Oh just like how Seattle did the same and now it's become a ghost town and they are way short on the money they need.
The market is lucrative because of the people. If the wealthiest people leave it won't be lucrative anymore