The top of the top are paying $0. But That’s like the 0.1% or the 0.01% and yes wed probably be best if they left. The top 10% are not paying a fair percentage but they are paying a lot in total dollars. Blue states are beginning to see a lot of wealthy leave for no income tax states. They still pay taxes in those places in the form of property and sales tax. Now the red state gets their tax dollars.
Taxing should be a tool, but not our only tool to fight income inequality.
If all humans died today (thanos snap with 100%), the paper-money would still exist, but would you (your ghost, I mean) say that a 100 dollars still holds value in an earth devoid of humans?
I will argue for no. Without humans, money has no value.
Money is the value being priced on labor-hours that was stolen by someone.
When an ultra rich move their assets outside, they are moving the stolen hours.
But even if he didn’t move those stolen hours outside, they would still be stolen hours.
Keeping the ultra-rich in our country is enabling the thief that keeps stealing us.
The true value is made by those who work the fields, academy, construction and all other sectors that keep society working.
The people living on a country and the sites/places/plot of lands can’t be moved overseas.
The rich must choose between getting his money out of high taxes and keeping his access to a country’s internal market if he decides to remove all of his investing (including machinery/real state investment) from a given country.
A country should tax them wherever they live if they have that country’s citizenship. Pretty sure they do that in the US. If they don’t want to pay they can give up the citizenship.
They do that in the US. It hurts a lot of people leaving the US. They are the only relevant country in the world that does this.
Very bad. For example. Someone gets his income from Australia. He lives in Indonesia. Then the indonesian government will tax on the person’s worldwide income. The Australian government will tax the Australian income. The American government will tax all of the income.
Then there’s double taxation treaties to reduce the damage.
It’s nasty. USA in this instance has no right to claim that income. The person does not live in USA. The income does not come from USA.
What’s so bad about the ultra wealthy moving out?
Genuine question.
Because even if they pay a lot less percentagewise, they still pay a lot. Having like 10% of something is better than having nothing.
We should still track down and close loopholes, and increase taxes on capital gains tho.
They’re paying $0, in fact they are managing to get refunds on $0 paid.
The top of the top are paying $0. But That’s like the 0.1% or the 0.01% and yes wed probably be best if they left. The top 10% are not paying a fair percentage but they are paying a lot in total dollars. Blue states are beginning to see a lot of wealthy leave for no income tax states. They still pay taxes in those places in the form of property and sales tax. Now the red state gets their tax dollars.
Taxing should be a tool, but not our only tool to fight income inequality.
Money has no value by itself.
If all humans died today (thanos snap with 100%), the paper-money would still exist, but would you (your ghost, I mean) say that a 100 dollars still holds value in an earth devoid of humans?
I will argue for no. Without humans, money has no value.
Money is the value being priced on labor-hours that was stolen by someone.
When an ultra rich move their assets outside, they are moving the stolen hours.
But even if he didn’t move those stolen hours outside, they would still be stolen hours.
Keeping the ultra-rich in our country is enabling the thief that keeps stealing us.
The true value is made by those who work the fields, academy, construction and all other sectors that keep society working.
The people living on a country and the sites/places/plot of lands can’t be moved overseas.
The rich must choose between getting his money out of high taxes and keeping his access to a country’s internal market if he decides to remove all of his investing (including machinery/real state investment) from a given country.
A country should tax them wherever they live if they have that country’s citizenship. Pretty sure they do that in the US. If they don’t want to pay they can give up the citizenship.
They do that in the US. It hurts a lot of people leaving the US. They are the only relevant country in the world that does this.
Very bad. For example. Someone gets his income from Australia. He lives in Indonesia. Then the indonesian government will tax on the person’s worldwide income. The Australian government will tax the Australian income. The American government will tax all of the income.
Then there’s double taxation treaties to reduce the damage.
It’s nasty. USA in this instance has no right to claim that income. The person does not live in USA. The income does not come from USA.
Just an abuse of power