Re:For the first time on record, the 400 wealthiest American...
by mcguire on Monday October 07, 2019 @03:02PM
(#21184678)
I was with you right up to
"• Capital gains is "double taxation". It is true that if you tax capital, that is likely post-tax money. That is, it was earned at some time in the past and tax was paid at that time."
The "double taxation" argument is false, since it assumes that the entity paying the original tax and the entity paying the second tax are the same entity which is manifestly false. It is also malicious, since it is usually applied to dividends and in so doing converts the investment markets to a zero-sum game.
"• Capital gains is "double taxation". It is true that if you tax capital, that is likely post-tax money. That is, it was earned at some time in the past and tax was paid at that time."
The "double taxation" argument is false, since it assumes that the entity paying the original tax and the entity paying the second tax are the same entity which is manifestly false. It is also malicious, since it is usually applied to dividends and in so doing converts the investment markets to a zero-sum game.