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SoylentNews
April 2, 2019
Sen. Ron Wyden of Oregon, the ranking Democrat on the Senate Finance Committee, announced today that he would soon release a proposal to eliminate massive tax breaks enjoyed by the wealthy on their capital gains income. If successful, the proposal would ensure that income from wealth is taxed just like income from work.
His plan, which he has promised to flesh out in a white paper in the coming weeks, would tax the appreciation of assets owned by the very wealthy as income each year, an approach known as mark-to-market taxation. It would also subject that income to ordinary tax rates rather than special, lower income tax rates that apply to capital gains.
https://itep.org/sweeping-reform-would-tax-capital-gains-like-ordinary-income/
https://www.wsj.com/articles/top-democrat-proposes-annual-tax-on-unrealized-capital-gains-11554217383
(Score: 0) by Anonymous Coward on Monday April 08 2019, @02:08AM (1 child)
???? You have an...uhhhh...interesting view of the world.
Whatever, Don Quixote. Tilt at that windmill, if you must. Go for it!
(Score: 2) by exaeta on Saturday April 20 2019, @11:08PM
Many problems have simple solutions that are not as radical as the ones people will propose.
A big problem can have a small solution, due to the butterfly effect.
And likewise, a large problem can be caused by a small law.
The Government is a Bird