>> First and foremost, any system of taxation is about values. And a much higher rate of capital taxation would undermine some of America’s core values.
Is it just me, or taxation is about everyone paying their fair share?
To me that argument about "paying your fair share" never made any sense.
Wouldn't "fair share" be defined as how many/much of the government offerings you use?
So how is it that someone making $1m/yr in exchanges is somehow using MORE government offerings and therefore has to pay more in order to keep up with their "fair share"? Do they somehow use more roads because they have equities? Perhaps they use the sewage system more? Use more welfare dollars? Use more school?
Just makes no sense. It's straight up inequality and classism.
Personally there is no such thing as fair in taxes or even in life. there is only what "the people" can agree on via their representatives.
one way to rationalize it is like insurance. someone protecting a 100K house pays much less than someone protecting a 500K house. It might not be linear with the value of the house.
Your share of the military is larger than someone that makes less because the military is creating more value for you by protecting more assets.
Your share of the SEC is because you receive more value from the SEC than the poor
etc
It is value based taxation instead of cost based taxation.
Is that really less fair?
In the end the only thing that matters is 1) enough taxation to pay for the things "the people" want. 2) minimize the drag that taxation causes on the economy.
Is it just me, or taxation is about everyone paying their fair share?