I thought we should bring some attention to this.

  • Jojo, Lady of the West
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    324 days ago

    Capital gains taxes are only levied against the profit earned from investment, not the gross value returned to the stakeholder.

    If someone buys a stock for $100, then later sells it for $150, only $50 is taxed. So the money that was “already taxed” by income taxes isn’t being double taxed at all, regardless of the rate of the capital gains tax.

    Unless, of course, you count the fact that it was taxed as income by the person who gave it to you, in which case all money has been taxed numerous times before and the argument is that taxes in general are bad.

    • @AliasAKA@lemmy.world
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      fedilink
      English
      224 days ago

      Yeah, I think in general people come up with veiled reasons for lower taxes but fundamentally it’s just because they don’t want to pay taxes at all.

      I like taxes. I like having roads (though I want more public transportation), I like having firefighters and public parks and protected green spaces and…

      • Jojo, Lady of the West
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        124 days ago

        Yup.

        Don’t get me wrong, I’d be glad for more money in my take-home, but in general I’m in favor of the things taxes pay for. I’d prefer to just be paid better.