But is income the right metric? If Elon Musk takes a salary of $100 and

his Tesla stock appreciates by $50 Billion what should he pay in taxes? Understanding that his gain is unrealized, his income is not representative of his ability to pay taxes, which I think "income" is a crude attempt to measure.

A wealth tax is not workable but it is a better basis for deciding what is equitable. In my view an equitable tax system would say that accumulated wealth could be expected to return x% per year, realized or not, and a tax rate should be some percentage of that. If those numbers are, say, 6% return and 33% then that's 2% of wealth. I don't think Liz Warren is too far off there. Again, I think the system is unworkable for a multitude of reasons but making comparisons of tax burden based on income misses the mark, I think.

I have posted before and I will again here... I'm ok with a tax on realized gains as long as at death all gains are realized and taxes on that are paid before anything else. No trusts, no generation skipping anything, no charities. Pay your taxes and then do what you want with the remainder.

[Post edited by 81_Hokie at 01/10/2023 6:00PM]

(In response to this post by BocaHoo91)

Posted: 01/10/2023 at 5:57PM

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How do you view taxation? -- Newt 01/10/2023 5:16PM

15-20 percent (or less) for billionaires is not fair when I pay 37% -- HoodatB 01/10/2023 6:25PM

37% is your marginal rate? ** -- Hokieesith 01/10/2023 8:29PM

It's most likely more than that if his marginal federal income tax rate is -- BocaHoo91 01/11/2023 09:29AM

The carried interest loophole is total bullshitt -- BocaHoo91 01/10/2023 7:12PM

I don't think Ms. Luna is very bright, perhaps she was just being -- Capital City Hoo 01/10/2023 6:14PM

Dumber than a bag of rocks as the saying goes. ** -- Shenhoo 01/10/2023 6:41PM

Government provides roads and bridges, airports, defense, -- 111Balz 01/10/2023 6:00PM

If you want to have a country, it's necessary. Death and taxes, man. People -- Seattle .Hoo 01/10/2023 5:54PM

My view is that Anna is a preening idiot. ** -- SixerHoo 01/10/2023 5:52PM

Necessary for civilized society. Should be progressive but -- BocaHoo91 01/10/2023 5:45PM

I red heer it fixes inflation and makes people eekwal.** -- ResistHoo 01/10/2023 5:30PM

Corporate tax cuts are the short-term solution to inflation ** -- Capital City Hoo 01/10/2023 6:15PM

^^^ It doesn’t fix stoopid. ** -- WaxHoo 01/10/2023 6:08PM

^^^^ Definitely not eekwal ^^^^ ** -- ResistHoo 01/10/2023 6:17PM

I pay more so the rich and corporations can pay less, that's my view ** -- Brown Water 01/10/2023 5:27PM

Everyone thinks the rich don’t pay much in taxes and yet -- BocaHoo91 01/10/2023 5:38PM

That may point to a different issue than the one you cite it as proof of... ** -- southdenverhoo 01/10/2023 6:48PM

Now do %s of income ** -- HoodatB 01/10/2023 6:26PM

About half as disproportionate. -- BocaHoo91 01/11/2023 09:28AM

Or, even more to the point, as a % of discretionary pretax income ** -- TomGlansAski 01/10/2023 6:50PM

I’m sure you’re right. -- fphoo 01/10/2023 6:02PM

The "I'm just following the rules" mantra these guys use is completely -- Plano Hoo 01/10/2023 6:05PM

Whats the other side? Don’t they earn even more? ** -- Lazarus 01/10/2023 5:43PM

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If you think of taxes as pitchfork insurance, or think of the government's -- southdenverhoo 01/10/2023 6:59PM

But their tax, as a percentage of their disposable income, is far lower -- 111Balz 01/10/2023 6:03PM

But is income the right metric? If Elon Musk takes a salary of $100 and -- 81_Hokie 01/10/2023 5:57PM

We must render unto Caesar what is Caesar's...to a point...and for most -- Tuckahokie 01/10/2023 5:26PM

Some of them openly state they don’t see the need for taxes if we can -- TomGlansAski 01/10/2023 5:24PM

While at the same time they want to default on what they borrow. Morons. ** -- Seattle .Hoo 01/10/2023 5:56PM

Taxation is absolutely necessary. -- hooinblueville 01/10/2023 5:23PM

Efficiency is the question. That's where most people have their concerns. -- Blah 01/10/2023 5:26PM