except for the fact that it’s a wealth tax on wealth that’s not really consequential. An income tax by definition must tax ALL income earned by an individual, you cannot hide from that, it’s definitionally, evasion.
except for the fact that it’s a wealth tax on wealth that’s not really consequential. An income tax by definition must tax ALL income earned by an individual, you cannot hide from that, it’s definitionally, evasion.
m0darn@lemmy.ca 2 weeks ago
How is real estate wealth not consequential?Real estate wealth is real wealth, it’s why it’s literally in the name.
Personal income tax is not a wealth tax, and there are myriad ways to avoid it without evading it.
KillingTimeItself@lemmy.dbzer0.com 2 weeks ago
it’s pretty fundamental, there is only a fixed amount of land that exists in the country. A billionaire has roughly 1 billion more dollars than i do. I have roughly one billion dollars less than them, they, weirdly enough, don’t have one billion more times land than me.
Theoretically they should have “1 billion times more property tax” than i do, but i’m going to imagine that’s not even possible under current tax law.
yeah, because then it’s not income.
m0darn@lemmy.ca 2 weeks ago
Killing time are you being intentionally obtuse just to kill time?
KillingTimeItself@lemmy.dbzer0.com 2 weeks ago
very observant, yes that is arguably part of the shtick.