Fundamentally I've always advocated to tax all income the same, and that
you could phase it in over 10 yrs or so to remove some of the very valid concerns Boca brings up. But that still doesn't change the reality that you are indeed taxing inflation (not the case with wages), the reality of the inheritance tax impact, or the reality that it won't generate the revenue proponents like to claim it will because taking those gains remains a choice. But I won't join your fellow lefties in the politics of envy and suggest someone investing their hard earned capital into a business, start up, rental property, etc. is just "sitting on their ass". Risk/reward should still matter.
I also join you in being a proponent of a tiered flat tax getting rid of virtually all deductions and meeting somewhere in the middle for current income tax rates and Cap gains rates. Sadly we might be limited to our two votes.
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In response to this post by hoolstoptheheels)
Posted: 08/10/2020 at 12:43PM