Correct. There is an inkling of a justification in that invested money has already been taxed. But more important, IMO, is that those who have been able to derive an income from asset gains should contribute more to the national project. - ThreadSky

About ThreadSky

tmfscottp.bsky.social • 28 days ago

Correct.

There is an inkling of a justification in that invested money has already been taxed.

But more important, IMO, is that those who have been able to derive an income from asset gains should contribute more to the national project.

Comments

indexhugger.bsky.social•28 days ago

But if it makes more money why is the additional money taxed less than income (noting that cost base adjustment based on inflation is of course reasonable).

tmfscottp.bsky.social•28 days ago

I'm not strongly arguing the case, btw. Just making the point that if you're investing with after-tax money, that's different to earning pre-tax income from labour.

I'd still tax it equally - but it's not an open and shut case, IMO.

indexhugger.bsky.social•28 days ago

I know, it's tricky, but hard questions will have to be tackled to step back from intergenerational inequality. Taxing labour more than weath, and way way more than significantly tax preferenced super is going to lead to ugly politics.

tmfscottp.bsky.social•28 days ago

Yep.

Which, again, is why I'd return CGT to indexation :)

We also need to think about an inheritance tax.

Posting Rules

Be respectful to others
No spam or self-promotion
Stay on topic
Follow Bluesky's terms of service

Comments

Posting Rules

Reply