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Is that flat across all income sources, or does it give special preference to income acquired through capital gains and dividends?
Depends on what the federal government deems worthy of encouraging. If they encourage innovation and economic growth, then capital gains and dividends will be taxed at a lower rate.
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Some people consider income gained from capital gains and dividends to be "double taxation", but I do not.
Again, it depends on what the federal government deems worthy of encouraging. Is innovation and economic growth desired? No? Then tax capital gains, etc., the same as income.
Depends on what the federal government deems worthy of encouraging. If they encourage innovation and economic growth, then capital gains and dividends will be taxed at a lower rate.
Again, it depends on what the federal government deems worthy of encouraging. Is innovation and economic growth desired? No? Then tax capital gains, etc., the same as income.
hah.
so wage-earners don't innovate, only capital-owners?
so wage-earners don't innovate, only capital-owners?
What makes you think wage-earners aren't capital owners?
Remember... CalPERS is the biggest US investor. Do you want to tax all those public employee pensioners on their capital gains? They contribute very little to their pension, so their cost basis is going to be extremely small. That will add up to a HUGE tax bill.
What makes you think wage-earners aren't capital owners?
Well, I don't think that, you just inferred that I'm talking about discrete sets of people. Being a capital owner is a role, and being a wage earner is a role. You can be both, you can be one of the two, or you can be neither.
Now the question still remains, of why you think wage earners are less innovative than capital owners.
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Remember... CalPERS is the biggest US investor. Do you want to tax all those public employee pensioners on their capital gains? They contribute very little to their pension, so their cost basis is going to be extremely small.
Well, I don't think that. You ought not put words in my mouth like that.
You posted this, which implies wage-earners are not capital owners.
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Originally Posted by le roi
hah.
so wage-earners don't innovate, only capital-owners?
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Originally Posted by le roi
Now the question still remains, of why you think wage earners are less innovative than capital owners.
Any capital owner contributes to innovation. That includes capital owning wage-earners.
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Sure, CalPERS needs to pay their fair share too.
So, you want to raise the amount of taxes taken from public employee pensions? And everyone's retirement plans, really, as they will ALL have capital gains.
Any capital owner contributes to innovation. That includes capital owning wage-earners.
I'm talking about the role of owning capital and the role of earning wages, which are roles clearly taken from the tax code. How do you figure that one creates more innovation than the other?
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So, you want to raise the amount of taxes taken from public employee pensions? And everyone's retirement plans, really, as they will ALL have capital gains.
I want it to be equal to the rates people pay on wages.
Okay... I'll play. Which 'roles' do you think don't own capital?
That'd be the non-innovators that you were talking about here:
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Originally Posted by InformedConsent
If they encourage innovation and economic growth, then capital gains and dividends will be taxed at a lower rate.
Is innovation and economic growth desired? No? Then tax capital gains, etc., the same as income.
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