A few words of warning from #Australia about the #CapitalGainsTax that #Biden is proposing.
It may be okay in itself, but no matter how the #tax is applied, if you give them a chance to offset their gains with loses, you still end up with the biggest, most #wellConnected #kleptocrats finding mates to lose money too, to circumvent paying tax.
It really does become a game, a racket, to these players.
A #ProgressiveLandTax on #RentalValue is fairest.
@FranckLeroy
The heat is useful. It is ensuring our finances are safe, so it is efficient, if used to heat a room. Not everyone needs to do this but more people than those who wish to to the system harm.
Btw its #moneyPrinting that is helping bitcoin to skyrocket. So if you have a problem with that, tell the banks to stop giving Bezos billions.
Taxing wealthy #landholders with a #progressiveLandTax instead, and bitcoin will not go up so exponentially.
@nygal
*Silently supports a #ProgressiveLandTax based on #rentalValue of the #land, because the extremely wealthy and well-connected game #profitLoss-based #taxation so they never pay taxes.*
Also #incomeTax doesn't much sense, when compared to #consumption and #landTax'es
And some people just own too much land and engage in #rentseeking that drains the real #economy.
Dick Smiths Fair Go Supporters