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A pension scheme phenytoin zero order kinetics You say that “everyone should pay their taxes now.” So, if the value of your house goes up by $1,000, even though you haven’t sold it, you think you should pay tax on the unrealized gain? And, if it goes down in value, do you expect to receive a refund? Its hard for me to understand how that makes sense, especially when you consider how much it would cost to run/enforce such a system. Furthermore, when people talk about capital gains tax rates it seems to be lost on them that the money that was invested has already been taxed, in most cases as ordinary income. Arguably it would be more balanced to compare the tax rates of one persons investment income to the tax rate for another persons investment income, not their ordinary income. While their is an obvious populist angle to saying “tax the rich” if you polled most middle income americans and told them that you were planning to tax any money they made on their investments (including appreciation in their homes) at ordinary tax rates they would be appalled. The best strategy for the tax code would be to simplify it by removing all of the exceptions and preferences (at both a corporate and personal level), maintain the progressive structure of it, but understand that “the rich” can’t carry the burden for the entire country (where over 50% of the population currently pays no net effective tax), and to have everyone pay some amount of tax so that the notion of a “free lunch” is removed from people’s mindset.
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