patrick.net

How about a cyber coin tax? Digital currency is not money but a risky ponzi investment.

Love it. All financial instruments should have a federal tax. After all, if you pay a sales tax for buying a book, pink lawn flamingo, or bag of concrete mix, why not a sales tax on financial instruments?

Doesn’t seem right to tax stock purchases. You already are paying a tax on profits. That would mean double taxation.

SharkyP says

Doesn’t seem right to tax stock purchases. You already are paying a tax on profits. That would mean double taxation.

Agree, but with Crypto I'd be fine with it. It does nothing but benefit the people that gamble and there are no employees. Sure there are exchanges, but that's mainly a few coders that make sure their sites work and an overpaid CEO (or think Wolf of Wall Street). No one would lose sleep if that costs them their jobs. Plenty of other places to work in that field.

I definitely would NOT want to double tax productive companies that produce thousands of jobs, move goods, physical locations, etc that are publicly traded.

And just like that true conservatives fell in love with MOAR taxes.

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CBO is projecting the deficit for 2025 will be $1.9 trillion, which is the same as Birdbrain Biden's 2024 deficit.

This will be the first time since 2000 that the deficit did not increase (at least when adjusting for inflation).

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Tariffs and Georgist land value taxes can provide all the revenue we need without any income or sales taxes.

SharkyP says

Doesn’t seem right to tax stock purchases. You already are paying a tax on profits. That would mean double taxation.

Depends. You don't pay taxes on appreciation until you sell the stock. Many stocks don't pay dividends at all.

BUT, you pay sales tax on a bag of concrete mix though you already paid Income Tax, SS/MC withholds, etc. on the income you used to buy the concrete.

So why not pay sales tax on a bag of financial instruments as well?

That's the problem I have with "Double Taxation" - it only seems to be a problem with money making money, but ignored when it's labor exchanged for money.

AmericanKulak says

SharkyP says

Doesn’t seem right to tax stock purchases. You already are paying a tax on profits. That would mean double taxation.

Depends. You don't pay taxes on appreciation until you sell the stock. Many stocks don't pay dividends at all.

BUT, you pay sales tax on a bag of concrete mix though you already paid Income Tax, SS/MC withholds, etc. on the income you used to buy the concrete.

So why not pay sales tax on a bag of financial instruments as well?

That's the problem I have with "Double Taxation" - it only seems to be a problem with money making money, but ignored when it's labor exchanged for money.

I consider it double taxation as well. But really if you just charged a flat income tax as low as possible (after other avenues are exhausted) that would work better than artifical transaction fees (in a digital world where most transactions are close to free in cost).

Bankrupt is bankrupt. At some point, the bankruptcy has to be managed. In the meanwhile, there is really no point to NOT extending the credit to its stretching limits to keep the corporate zombie lurching forward.

Kicking the can down the road, or just collapsing the Babylonian bubble later while exploiting it now?

mell says

I consider it double taxation as well. But really if you just charged a flat income tax as low as possible (after other avenues are exhausted) that would work better than artifical transaction fees (in a digital world where most transactions are close to free in cost).

I agree. My beef is that the "Fiscal conservatives" are obsessed with cap gains - which only taxes profits and is voluntary in the sense that you choose when to sell AND can be borrowed against often with more favorable tax treatment.

They ignore the double tax on wage/salary income taxes.

Bankrupt is bankrupt. At some point, the bankruptcy has to be managed. In the meanwhile, there is really no point to NOT extending the credit to its stretching limits to keep the corporate zombie lurching forward.

Kicking the can down the road, or just collapsing the Babylonian bubble later while exploiting it now?

A lot of this 'debt' is corporate vig from the Vatican, IMF, laundering to bribe politicians, and the City of London entities and is illegitimate. These entities are trying to destroy us in addition at the moment. Tavistock isn't there to help people, it is there to vivisect our brains for the dynastics and elites who program the wars.

RWSGFY says

An episode of The Apprentice is being written. Stay tuned.