To: Kirk © who wrote (25742 ) 9/2/2025 3:53:10 PM From: Elroy Read Replies (1) | Respond to I also think the wealthy and middle class should pay a higher tax rate since we get more out of society but it comes at a cost of discouraging the smart from working harder as we find a level of taxation where we'll say "I'd rather post nonsense on SI or FB arguing with strangers rather than working my butt off to die earlier and let the government keep well over half what I make", especially when spending the incremental dollars are taxed again here at nearly 10% sales tax. You're assuming an increased tax would be an income tax. Frankly, an income tax makes little sense to me - why tax work? A wealth tax makes a lot more sense, although implementation can be tricky. It works for property taxes (more expensive homes pay more tax), so it could work for other assets. I think rather than a corporate profit tax we should have a market cap tax. The US government takes a small amount of each publicly traded company each day, and the corporate income tax for publicly traded companies is zero. It hurts in dilution, but the government, company and investors goals are all aligned - higher stock price = good. And if someone has $40 million in the bank one year, invests terribly, and they have $30 million in the bank the next year, are they then not supposed to pay taxes because they had a lousy trading / investing year? Come on, they've got $30 million in the bank. The $30 millionaire (who was a $40 millionaire last year) should pay more than some dude with a wife and two kids, a mortgage, other debt, and making $90k per year. The main thing is I should not pay taxes, the rest is just noise :-)
