Re:FDIC set to take First Republic Bank into receivership
by Izkata on Saturday April 29, 2023 @03:19AM
(#35750806)
Pretty sure they're getting at what the wealth is stored in, not monetary bounds. Those are the details that often get ignored when the "tax the rich" soundbite is used.
Re:FDIC set to take First Republic Bank into receivership
by ericd on Saturday April 29, 2023 @10:17AM
(#35753075)
I’m guessing you want unrealized gains to be taxed before they’re realized, since you said “all net worth gains” rather than “all income”?
Re:FDIC set to take First Republic Bank into receivership
by speakfreely on Saturday April 29, 2023 @12:07PM
(#35754214)
> More importantly, all net worth gains should be taxed equally.
What policy would you use for measuring someone's net worth? How would you ensure they're being honest?
Re:FDIC set to take First Republic Bank into receivership
by saddd on Saturday April 29, 2023 @01:57PM
(#35755360)
Those are implementation details. It's difficult to accomplish these things in any taxation system, including our current one.
Re:FDIC set to take First Republic Bank into receivership
by speakfreely on Saturday April 29, 2023 @03:01PM
(#35755968)
Well, these are really difficult implementation details to agree upon. There's no chance anyone will agree to something like this without seeing those details.
Trying to define buckets with arbitrary thresholds is futile.
It greatly benefits the top outliers, since the top bucket will have a huge disparity between its strictly defined lower bounds, and an infinite upper bound.
There's no need to "define rich". A formula without defined bounds (this is the most important part) should determine how much tax you pay, and it shouldn't discriminate between different forms of income. More importantly, all net worth gains should be taxed equally.