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It is only a tax on profits (so not total sale value).
I'm not supporting it from a tax revenue stand point, I don't care about that, but it would lower economic activity in the corporate sector and dissuade people from investing (and inflating) the stock market.
The materialistic profit motive that has driven our economy has built an authoritarian state where money buys you freedom, and the more money you have, the more freedom you have as well.
To create a freer society it must be more egalitarian and not based on increasing economic activity.
Also in the long run it will lower government revenues and slow imperialistic ambitions abroad.
Furthermore people will be happier not trying to become millionaires and building a life rather than making a living.
I suspect this thread will follow the path of your previous thread:
the guy seems to just love his extremely flawed philosophical bs.
winterfall, id recommend you check out a liberty memes page on facebook. they will have fun with you and you may find someone to take your bait and go back and forth with you.
i wouldnt recommend a "being libertarian" though. well, it may work for you. i like it but there are too many conservatives there. its fun to mess with them.
It is only a tax on profits (so not total sale value).
I think there should be a 95% tax on the output of cooperatives. There's no input cost to what they produce since human capital has no value so its all profit. That will incentivize more production by the cooperative to meet their own needs as well as the needs of all those the federal government decides to distribute the 95%.
Makes about as much sense as the 90% capital gains tax.
Oh wait, I get it now. So the wealthy should create wealth for everyone else. So I can just stay home and be lazy.
Lol
Hmmm, nah I like taking care of my family, I enjoy making a lot of money at work and in the market. I also enjoy helping those in true need by giving. Because I make a lot, I can give a lot on my own. I certainly don't need the Govt telling me I need to help support some clown working at McD's.
It's not about the government, it's about freedom.
The wealthy don't create wealth, they invest money to increase their own money thanks to market investment value that creates a feedback loop. That doesn't help anyone.
If you want to limit state power and corporate power, you have to stop the economic system where money offers freedom and allow all to work cooperatively.
Come to think of it, you should move to Uruguay. Nice pretty country, it's communist so they redistribute the wealth. If you have over say $500g's they help themselves to it. For the good of others. Why wait for America to change your utopia is waiting for you
Wealth redistribution is not communism, that is just regulated capitalism.
Having a 90% CGT does not increase wealth redistribution as it will overall decrease state revenue; what it does do is change the way wealth is created so the ones who invest the labor get the return, not the ones that own the capital.
If you look at the OP’s posting history, you’ll see he has some rather bizarre (to say the least) ideas when it comes to economics (and societal organization in general).
Aredhel,
Quote:
Originally Posted by Supposn
Tax reductions due to capital gains and the less renowned income averaging. … There's no reason to believe that that the aggregate consequences of this tax policy[, i.e. deep discount for long-term capital gains incomes,] are in our nation’s better interest. … The IRS tax option of income averaging was once available to all taxpayers that experienced ANY financial boon. …
... Unlike the tax reduction for long term capital gains, income averaging equally treated lottery winners, speculators, investors and home sellers. Government did not determine winners and losers.
I advocate that income averaging should be fully reinstated and replace the favorable treatment of long term capital gains. I would not be adverse to it being extended to average out 5 rather than the 3 years.
I think there should be a 95% tax on the output of cooperatives. There's no input cost to what they produce since human capital has no value so its all profit. That will incentivize more production by the cooperative to meet their own needs as well as the needs of all those the federal government decides to distribute the 95%.
Makes about as much sense as the 90% capital gains tax.
Capitalist cooperatives do operate for profit as it is necessary for it to exist, that is not my end goal.
But regardless, increased output is not the goal. Production should't be increased for the sake of economic activity.
the guy seems to just love his extremely flawed philosophical bs.
winterfall, id recommend you check out a liberty memes page on facebook. they will have fun with you and you may find someone to take your bait and go back and forth with you.
i wouldnt recommend a "being libertarian" though. well, it may work for you. i like it but there are too many conservatives there. its fun to mess with them.
Libertarians, as you know them, tend to misunderstand the existence of freedom.
Freedom exists in the absence of power, since you can't eliminate power, you have to restrict ownership to what people can naturally consume/store.
That would force people to work together for larger projects and not pursue more control or wealth. The market system of consumerism makes us less free and less happy.
There are other forms of tyranny besides government power.
I advocate that income averaging should be fully reinstated and replace the favorable treatment of long term capital gains.
I would not be adverse to it being extended to average out 5 rather than the 3 years.
Capitalist cooperatives do operate for profit as it is necessary for it to exist, that is not my end goal.
But regardless, increased output is not the goal. Production should't be increased for the sake of economic activity.
But that's what is required when the government confiscates more of what you produce.
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