Re:The Story of Apple's $14B Tax Bill
by int_19h on Tuesday December 20, 2016 @08:09PM
(#13225954)
We should apply a progressive income tax on any capital gains, period. They're income. There's no reason why they should be taxed at the rate lower than sweat-of-the-brow income, except to economically advantage the rentier class at the expense of the worker class (since the overall tax bill is the same, you're just shifting money paying for it between these two groups by applying different rates).
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Re:The Story of Apple's $14B Tax Bill
by nickjarboe on Tuesday December 20, 2016 @09:26PM
(#13226343)
I agree that capital gains should be taxed like income except for the fact of inflation. If you hold, say a house for 10 years, and inflation averages 8% a year (remember the 1970's), and then you sell it at the same inflation adjusted value, you will pay a bunch of tax on no real gain. Maybe we could adjust capital gain tax to inflation. This would have added benefit of having a constituency that wants a higher CPI against those who would like to keep it low (for example to keep Social Security payments or other retirement payments from increasing).
Re:The Story of Apple's $14B Tax Bill
by 234dd57d2c8db on Wednesday December 21, 2016 @04:56AM
(#13227948)
Problem is inflation statistics can (and often are) manipulated. Just look at how the government swaps things out of the "inflation basket" when the levels start getting too high. Food, rent, healthcare, college education, etc some of the fastest growing (also unavoidable costs) that are not taken into account for CPI.