Quote:
Originally Posted by mikemhg
I was waiting for your bootlicking face to appear 
Yes, I do have a fundamental understanding on the subject. You haven't refuted my argument, merely indicating that there are other means and loopholes to circumvent the upcoming changes to the capital gains rate.
It's not difficult to understand here, Hehe. There are basically two types of people — those who have capital and those who work for a living.
That is quite obvious, and if anything further validates the need for even more aggressive enforcement of taxation policies. Personally, I'd prefer to see a wealth tax introduced, based on a set arbitrary level. That won't happen, and thus changes to the capital gains rate is the next best thing. |
Mike, what I was trying to show is that this taxation doesn't work. At least it doesn't work with the intention that they say it's going to do.
You want a wealth tax that can actually tax the wealthy. The problem is, it doesn't work. The tax ended up taxing those people who had saved up their whole life and put into a second property, some stocks and whatever and decided to take it out.
My parents are those who you think you want the government to tax. The truth? They solved the whole thing with a 10min call to their accountant and a few grands worth of fees in structures and billable hours.
And I will give you my own personal insight as a person who have observed these group of wealthy individuals who people seem to hate.
The problem with wealthy people is not that they make money. The problem is that they accumulate far too much and take that money out of circulation. In other words, they aren't spending enough.
Instead of taxing, I suggest the gov't to introduce writeoff-able expenses to certain industries that they want to pump. Say if we want to help the tourism industry, any expense by anyone in domestic tourism can be written off (hence a pre-tax). Get the wealthy people to spend their money.
This creates opportunities, in both job and business, for us normies. Taxing... all you are achieving is that everyone is equally poor. By inducing spending, you create the opportunity where everyone is equally rich.