09-16-2017, 07:40 AM
(09-16-2017, 04:14 AM)JustWinBaby Wrote: Not a bad idea.
Of course, I'm in the camp that thinks tax rates don't matter much. Maybe they would without all the loopholes, special interests and kickbacks.
But always remember that, for the wealthy, most of their income is capital gains. AND they have a nearly indefinite investment horizon. There's a pretty easy solution here, but because even wiping your nose in Washington gathers scrutiny we're screwed...
A lot of truth to this. We talk a lot about rates, but in reality it isn't necessarily that we need to raise rates, but we need to broaden the tax base. Making more money taxable by closing loopholes and the like is what does this. We see this in the discussion about corporate tax rates where we hear "we have the highest corporate tax rate in the world!" Of course, yes, the top tier rate is high, but the effective rate corporations tend to pay when all is said and done is a lot lower, and depending on the year is in the middle or near the bottom when compared to other WEIRD nations.
