Submitted by Scarlet_pot2 t3_119p5js in singularity
Ambiwlans t1_j9p21xt wrote
Reply to comment by Lawjarp2 in Bernie Sanders proposes taxes on robots that take jobs by Scarlet_pot2
Or just tax income... that money leaves the corporation at some point.
The problem in the US is that income tax isn't progressive enough at the high end.
People making a billion a year should be taxed 99%. It isn't like making >10mil a year take home would be some sort of tragedy. You could still buy a yacht, just not one big enough to have a helipad AND a dock for smaller speed boats.
Nanaki_TV t1_j9pdri6 wrote
You'd have to define since income Warren Buffett "makes more than his secretary" but not on his income taxes. Hence why he pays less income taxes than his secretary. This argument was all the rage of politicians years ago and it still bothers me.
Ambiwlans t1_j9q8b3d wrote
Do what Canada does and just make cap gains count 50% towards income. You get brackets built in.
Nanaki_TV t1_j9qbfjf wrote
I’m not an accountant but my personal cap gains sent me into a higher bracket so I had to pay more taxes. This was on Bitcoin I exchanged for a Tesla. 16k I owe in taxes now. It doesn’t really make sense to me that I owe money on cap gains at all. The government wasn’t there taking the risks with me. Only once I achieve profit do they take from me. I don’t think that’s the way to do it.
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