Maybe a hot take, but I actually think individual progressive taxes are great. Have a generous tax free threshold, but individual taxes stops excessive wealth hoarding and (in the case of inheritance tax) dynasties
It’s just an extra step… Everyone gets a paycheck from a corporation of some kind… Instead of hundreds of millions to deal with, the IRS could just focus on the companies
Inheritance tax is very good and fair. But a tricky problem is that if one place has a big inheritance tax, and another place doesn’t - then rich people basically just put all their money in the place with no inheritance tax. … We should do it anyway, but it does mean the bulk of that money probably won’t get taxed.
Maybe a hot take, but I actually think individual progressive taxes are great. Have a generous tax free threshold, but individual taxes stops excessive wealth hoarding and (in the case of inheritance tax) dynasties
It’s just an extra step… Everyone gets a paycheck from a corporation of some kind… Instead of hundreds of millions to deal with, the IRS could just focus on the companies
I agree, and on inheritance anything over like $1m should be taxed heavily. Anything over say $10m or so should be taxed at or near 100%.
Inheritance tax is very good and fair. But a tricky problem is that if one place has a big inheritance tax, and another place doesn’t - then rich people basically just put all their money in the place with no inheritance tax. … We should do it anyway, but it does mean the bulk of that money probably won’t get taxed.