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Re:Sweeping Reform Would Tax Capital Gains Like Ordinary Income by rileymat2 on Sunday April 07, 2019 @11:46AM (#19597504)
I am not sure I support taxing capital gains as ordinary income unless there is some way to adjust the gains for inflation.

For instance, if your capital gains tracked inflation precisely it seems fundamentally unfair to tax a percentage of the gains, as the person has not really "gained" in real terms.

Re:Sweeping Reform Would Tax Capital Gains Like Ordinary Income by _bxg1 on Sunday April 07, 2019 @11:48AM (#19597517)
One could say the same thing about salaries; most (salaried) people get a minimum 3-4% "raise" every year just to keep up with inflation and living expenses.
Re:Sweeping Reform Would Tax Capital Gains Like Ordinary Income by reboog711 on Sunday April 07, 2019 @06:11PM (#19600268)
2% or less is a lot more common in my experience, irregardless of what inflation is.
Re:Sweeping Reform Would Tax Capital Gains Like Ordinary Income by jdavis703 on Sunday April 07, 2019 @11:51AM (#19597538)
It looks like this plan would only apply to a fraction of the economic top 1%. Most people tend to support a progressive tax system, probably because it seems reasonable that the richest should help out a little more than the poorest.
Re:Sweeping Reform Would Tax Capital Gains Like Ordinary Income by microcolonel on Sunday April 07, 2019 @11:57AM (#19597590)
Even in a flat system, the productive contribute more. The current system is aggressively progressive, almost all the income taxes are paid by a tiny minority.
Re:Sweeping Reform Would Tax Capital Gains Like Ordinary Income by danaris on Sunday April 07, 2019 @12:06PM (#19597668)
The rich can afford to give up a much higher percent of their wealth or income in taxes than can the not-rich.

Living expenses do not simply increase as a linear function of income or wealth. They increase, sure, but there's an effective upper bound. Jeff Bezos does not need to buy 10,000 times more food (or food 10,000 times more expensive) than someone making minimum wage.

Thus, the statement that "in a flat system, the rich contribute more," while trivially true, serves only to obscure the horribly damaging nature of flat tax schemes—or, indeed, even schemes that are only as progressive as the one we have now, which has allowed the very wealthy to accumulate the vast majority of all gains in the economy for decades.

That's...not a good thing. It's something we need to be working against, and increasing the progressiveness of our tax scheme (however "aggressive" some may feel that makes it) is one good way of doing so.

Re:Sweeping Reform Would Tax Capital Gains Like Ordinary Income by rileymat2 on Sunday April 07, 2019 @12:05PM (#19597659)
The rich surely contribute more in absolute terms, but that is not the only way to look at things.

For instance, you could look at contribution as a percentage of discretionary income. In those terms, you might find that the middle class contributes the "most".

Re:Sweeping Reform Would Tax Capital Gains Like Ordinary Income by rileymat2 on Sunday April 07, 2019 @11:55AM (#19597567)
I 100% support a progressive tax system, whether it applies to the 1% or everyone, not accounting for inflation strikes me as structurally unfair.
Re:Sweeping Reform Would Tax Capital Gains Like Ordinary Income by erentz on Sunday April 07, 2019 @11:54AM (#19597566)
But don’t we tax normal interest as income too? We don’t adjust that for inflation.