No so if the government had fair taxes before they rich move money, they don’t and won’t
His girlfriend is a strange looking cat.
That article shows how hard it is for states to tax the rich, when the rich can just move to another state. Federally he should still be getting taxed 20% on those capital gains, which admittedly is not enough and we should fix that
So all the billionaires are moving to the same island??? When will they have their own army
Every Florida resident takes advantage of their state tax advantages. This article is rage bait for the simple-minded. If Floridians wanted higher taxes, they would vote for people who would implement higher taxes like California has.
You could tax him a billion dollars for over a century and he wouldn’t go broke; but this dude is still grifting the tax system anyway.
That’s precisely one of the problem with taxing capital. It’s easy to move. It can also behidden, and it’s difficult to figure out exactly how much there is to be taxed, and the amount is variable.
Instead, we should be focusing on taxing what can’t be moved: land. In brief:
* It cannot be to another jurisdiction
* It’s easily assessed by a 3rd party so its value cannot be obfuscated
* Everyone at all times knows exactly where it is
* It’s finite/non-fungible so you’re not destroying any by taxing it.
You drop the bill at 123 Main Street and tell them to pay. If they do, great. If not, you can readily confiscate it and sell it to someone else who will pay their taxes.
8 comments
No so if the government had fair taxes before they rich move money, they don’t and won’t
His girlfriend is a strange looking cat.
That article shows how hard it is for states to tax the rich, when the rich can just move to another state. Federally he should still be getting taxed 20% on those capital gains, which admittedly is not enough and we should fix that
So all the billionaires are moving to the same island??? When will they have their own army
Every Florida resident takes advantage of their state tax advantages. This article is rage bait for the simple-minded. If Floridians wanted higher taxes, they would vote for people who would implement higher taxes like California has.
You could tax him a billion dollars for over a century and he wouldn’t go broke; but this dude is still grifting the tax system anyway.
That’s precisely one of the problem with taxing capital. It’s easy to move. It can also behidden, and it’s difficult to figure out exactly how much there is to be taxed, and the amount is variable.
Instead, we should be focusing on taxing what can’t be moved: land. In brief:
* It cannot be to another jurisdiction
* It’s easily assessed by a 3rd party so its value cannot be obfuscated
* Everyone at all times knows exactly where it is
* It’s finite/non-fungible so you’re not destroying any by taxing it.
You drop the bill at 123 Main Street and tell them to pay. If they do, great. If not, you can readily confiscate it and sell it to someone else who will pay their taxes.
One day it will be washed all away
I mean Miami