Taxing unrealized gains (and I assuming that it is meant to apply the capital gains rate or at minimum the income tax rate ) will put more into poverty. Yes I get the super rich people have unrealized gains… But every day people are putting money away and investing as well. Think of the 401(k) that are sitting there, those are unrealized…
Taxing unrealized gains (and I assuming that it is meant to apply the capital gains rate or at minimum the income tax rate ) will put more into poverty. Yes I get the super rich people have unrealized gains… But every day people are putting money away and investing as well. Think of the 401(k) that are sitting there, those are unrealized gains.
That’s why wealth tax works better. It’s lower, encourages people to invest.
Now that’s relatively, actually considerably unreasonable. In Switzerland, the wealth tax depending on the county you live in is anywhere from 0.6 to 1%.
If you have a wealth tax of 50% on unrealized gains, you’re gonna wipe out most people’s 401(k). Or rather, they’re gonna be tax on unrealized game, and have to pay with it with over inflated paper bills, and it will sink them even further.
Taxing unrealized gains (and I assuming that it is meant to apply the capital gains rate or at minimum the income tax rate ) will put more into poverty. Yes I get the super rich people have unrealized gains… But every day people are putting money away and investing as well. Think of the 401(k) that are sitting there, those are unrealized gains.
That’s why wealth tax works better. It’s lower, encourages people to invest.
Okay. A 50% wealth tax, then?
Now that’s relatively, actually considerably unreasonable. In Switzerland, the wealth tax depending on the county you live in is anywhere from 0.6 to 1%.
If you have a wealth tax of 50% on unrealized gains, you’re gonna wipe out most people’s 401(k). Or rather, they’re gonna be tax on unrealized game, and have to pay with it with over inflated paper bills, and it will sink them even further.
Okay, how high would you set it?