How Europe Is Designing A Tax System You Can’t Escape

[Miguel1]

A comment from a viewer:

”So, government steals your your money by inflating the currency, your nominal values grow because of inflation and they tax the increase as unrealized gains. This is insane if you have basic understanding of it. Insane.”

 

[Apparition of Jack]

Why do people hate taxes so fucking much? Feel free to give up modern sewage if you hate paying for society 

[LordFall]

10 minutes ago, Apparition of Jack said:

Why do people hate taxes so fucking much? Feel free to give up modern sewage if you hate paying for society 

Because the middle and lower classes are stuck paying a big proportion of them while a lot of elites have elaborate loopholes to avoid paying anything and are just parasite on the system and keep owning a bigger chunk of the global economy. 

[NewKidOnTheBlock]

9 minutes ago, LordFall said:

Because the middle and lower classes are stuck paying a big proportion of them while a lot of elites have elaborate loopholes to avoid paying anything and are just parasite on the system and keep owning a bigger chunk of the global economy. 

Then the correct thing to do would be to make sure elites are unable to evade taxes, no? Instead of low taxes or no taxes at all. That's suppose to be the purpose of progressive taxation in general, right? Of course it doesn't work, but it should work. And all the loopholes and exploits elites use should be covered and patched. Not commenting on how realistic or unrealistic it would be, but that's how it should be

[CosmicExplorer]

36% tax for unrealised gains is crazy, many people are investing in the stock market to fund their retirement/retire earlier, this tax will make it no longer worth it. Those huge taxes would make sense If they would give people UBI, but that's likely not happening any time soon.

Edited 23 hours ago by CosmicExplorer

[NewKidOnTheBlock]

But yeah, if they'll actually dare to apply this one EU-wide, then that's a massive emigration motivation. This shit's fucked up

[Basman]

This already been a thing in the Netherlands for years, though I believe it was ruled as unconstitutional recently.

It triggers finance/crypto bros immensely and causes them to hyperventilate because it nerfs investing. Maybe not such a bad idea on paper. Investing is a low value activity relative to the absurd amount of money you can make of it. And all top tier financers abuse the system to avoid taxes.

[NewKidOnTheBlock]

3 hours ago, Basman said:

This already been a thing in the Netherlands for years, though I believe it was ruled as unconstitutional recently.

It triggers finance/crypto bros immensely and causes them to hyperventilate because it nerfs investing. Maybe not such a bad idea on paper. Investing is a low value activity relative to the absurd amount of money you can make of it. And all top tier financers abuse the system to avoid taxes.

If it gets approved by the senate, it'd go into effect as of January 1st 2028 in Netherlands only. Seems like it's pretty unpopular, but we'll see. But this is not the way to limit super wealthy individuals and clearly this legislation wasn't designed for that purpose. Investing might be a relatively low value activity but I'd say depending on the current pension systems mantained and promised by the state is much lower value, as you need at least 3 workers per one crusty retiree in the economy. You're also not contributing any capital towards betterment of society like in the case of investing.

[Basman]

1 hour ago, NewKidOnTheBlock said:

If it gets approved by the senate, it'd go into effect as of January 1st 2028 in Netherlands only. Seems like it's pretty unpopular, but we'll see. But this is not the way to limit super wealthy individuals and clearly this legislation wasn't designed for that purpose. Investing might be a relatively low value activity but I'd say depending on the current pension systems mantained and promised by the state is much lower value, as you need at least 3 workers per one crusty retiree in the economy. You're also not contributing any capital towards betterment of society like in the case of investing.

I don't know if it's a good solution or not. I think the government is just trying to get more money in house first and foremost.

I think there's going to be great algorythmic bias against this because it triggers the chuds. So watch out for misinformation, especially when the source is algorythmic in nature (clickbait titles, doom pilling, etc.)

Edited 2 minutes ago by Basman