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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: mishedlo who wrote (111723)	5/18/2010 6:50:31 AM
From: Dan3	Read Replies (1) of 116555

Re: Legalized Theft - UK Proposes 50% Tax on Capital Gains, Up From 18% Capital Gains should be adjusted for inflation, then taxed as ordinary income. What's the tax on ordinary income in GB? So if I earn (or supplement) my income by flipping houses or stocks, I should be taxed at the same rate as someone who earns his income by building houses, or waiting tables. If I bought a house 20 years ago for $100k and inflation makes that $100k worth $250k now, and I sell the house for $275k (net), I should be taxed on $25k. Not $175k and not $25k. Not $0k, either, the way it is now.

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