mrstickball on 06 March 2012
| Dark_Lord_2008 said: I believe a tax on assets/personal net fortunes would be a much fairer way of taxation than personal income taxes. Too many tax loopholes exist in the current taxation system. Taxable incomes can be reported as being much lower, tax offsets, income splitting with spouse allow people to report much lower taxable incomes. |
By taxing wealth, you would litterally destroy the productive class in society in a generation. Taking away peoples' wealth would take away investment(s) into the economy, which would harm capital investment.
There are too many loopholes, certainly. But to solve that, all you need is a flat, no loophole, no deduction tax.
Back from the dead, I'm afraid.
