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.
Same for Germany. It’s income taxes (everything above ~66k/year is 42% taxes and everything above ~277k/year is 45%) no capital gains taxes (they are 25% no matter the amount of capital gains) or asset taxes. Don’t know where the 47% are coming from.
Also misleading, the US gives trillions of tax dollars to the wealthy who are paying nothing. Usually it is in corporate welfare, but a couple years ago they were paid directly.
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
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.
Same for Germany. It’s income taxes (everything above ~66k/year is 42% taxes and everything above ~277k/year is 45%) no capital gains taxes (they are 25% no matter the amount of capital gains) or asset taxes. Don’t know where the 47% are coming from.
Also misleading, the US gives trillions of tax dollars to the wealthy who are paying nothing. Usually it is in corporate welfare, but a couple years ago they were paid directly.
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.