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George II

(67,782 posts)

6. Maybe a better analogy....

Reply to cstanleytech (Reply #3)

Wed Oct 27, 2021, 05:07 PM

Oct 2021

You live in a town that assesses property tax on every homeowner. This tax would asses a tax on property owners ONLY if their property was worth more than a certain arbitrary value. In other words, if someone has $999.999.999.99 in assets that person doesn't pay the tax. But if that person is walking down the street and finds a penny - BOOM! The tax kicks in.

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Highlight:

Wyden fills in details for 'Billionaires Income Tax' [View all] brooklynite Oct 2021 OP

If passed, it'll be in the courts in a New York minute. George II Oct 2021 #1

On what grounds though? cstanleytech Oct 2021 #3

From the what I see, it's taxing specific private individuals based solely on their level of.... George II Oct 2021 #4

I thought the courts took a largely hands off approach though over tax laws as cstanleytech Oct 2021 #8

That it's a direct tax not apportioned between the states by population FBaggins Oct 2021 #5

Maybe a better analogy.... George II Oct 2021 #6

Warren and Sinema True Blue American Oct 2021 #2

Honestly, they should just tax capital gains at the same rate as normal income and move on GregariousGroundhog Oct 2021 #7

And require individuals to take capital gains annually, KPN Oct 2021 #11

Just exempt it up to 100K JCMach1 Jan 2022 #16

Eh, there's ways around having gains in the first place. sir pball Jan 2022 #17

This message was self-deleted by its author jfz9580m Oct 2021 #9

Wyden's right on. Thanks for sharing. KPN Oct 2021 #13

This message was self-deleted by its author jfz9580m Oct 2021 #14

If they are taxed on appreciation in value of assets even if not sold, marie999 Oct 2021 #10

For that source of income, yes. It only makes sense. KPN Oct 2021 #12

Kick ck4829 Jan 2022 #15

Wyden tax plan sounds like a winner. K and R oasis Jan 2022 #18

This doesn't sound like such a good deal to me jmowreader Jan 2022 #19