- cross-posted to:
- leftism@lemmy.world
- cross-posted to:
- leftism@lemmy.world
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This is misleading. The 49.5% tax in the Netherlands is on income above €75,518. Billionaires rarely make the bulk of their money as income.
We don’t have a capital gains tax, instead there is a tax on capital that’s based on expected return on that capital. It’s about 1% on money in bank account and about 6% on stock and other investments.
Taxing expected return sounds a bit absurd. What if the capital turns out to be lost, does the state give the tax back?
Omg, like a tax refund? Gimme a break. Fuck the rich with a tire iron.
Dude, I have much of my savings for retirement invested in stocks (ETF’s, it’s a fairly safe investment) since the social security in my country kinda sucks. My return on investment is 5% a year. Having a 6% tax actually means I lose money
The idea is that if such a tax existed the social security wouldn’t suck
That’s a very delusional idea.
Wow, this is just entirely wrong. Completely and utterly wrong.
Sweden has a maximum of around 55% income tax bracket if you’re in a municipality with high income tax, but billionaires never are and as such would be taxed probably at most 50% income tax bracket.
This is of course entirely irrelevant because billionaires don’t make their money on income. Sweden has fairly low capital gains taxes - 30% on regular accounts, and a special account that taxes the whole account value by a low percentage, which shakes out in average years to even lower taxes on capital. This assumes you even keep your capital in the country, which is a big if.
There’s also no inheritance tax, no gift tax and no property tax. Sweden is actually an unusually good place to be a billionaire as far as taxation goes, and a below average place to earn a high salary as far as taxation goes.
Sweden has fairly low capital gains taxes - 30% on regular accounts,
That’s twice the American rate.
I’m personally in favor of land value taxes, externality taxes, and natural resource severance taxes.
If you’re not a billionaire and against this, you’re pretty much a moron and if you’re thinking one day you’ll be a billionaire, you won’t be based on your thought process alone.
There’s no sensible reason why anyone should have no resistance accumulating that much wealth to themselves. It isn’t infinite money for everyone, essentially you’re taking it from others. Yes, some fools kind of deserve or are themselves at blame for parting from their own money, but if there are no stops, it doesn’t motivate others from making sure they create methods to keep doing this to others. All to gain, nothing to lose.
