- 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.
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.
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 think it caps at 20% doesn’t it?
I think 28% for short term gains, but a meager 15% for long term gains.
Thanks to fairly recent changes by guess who!
My only question is: Is there a limit to one person’s power?
Afaik it’s 57%,or at least that’s what they’re taking of my bonus.
57% is the tax on “one-time gains” - bonuses and other such things.
This means that you’re probably overpaying on it, but you might also be underpaying on your income taxes (usually ~30% even if you reach the ~50%-tax bracket). Worst case scenario, you’ve lent some money interest-free to the government that you get back on your tax returns.
You can borrow from someone else. When someone else borrows from you, you lend it. Or lent as the past tense
Thanks, updated. I think my mistake stems from Swedish only having one word for the concept, regardless of the direction of the transaction.
I’ve noticed a lot of my european friends doing the same
I think the only english-speaking people in North America who know this read Hamlet in high school.
Are people not reading Hamlet in high school now? What was the cutoff for 16th century literature, 2021?
Dude… its a meme…
It’s was just a prank bro calm down
Correct, but there are those that would take this as a source of truth and run with it. It’s not the smart thing to do, but we already see people doing this sort of behavior on other social media.
We shouldn’t enable the problem, even if it’s an innocent mistake
You are correct one should never use a tactic that clearly worked for the opponent
The point of the meme is to highlight that rich people should be taxed more
You can’t include bracket taxing, asset taxing etc in a commit meme format.
If people get their facts off memes, they indeed have a problem but you can’t accommodate for all who arent critical of their knowledge sources
I don’t buy this argument - if you’re going to claim something to be the case, it should at least vaguely resemble the truth. Going by the ‘rules’ of this meme, Sweden should be right next to the U.S, or even take the U.S’ place given that the U.S ranks better on wealth equality (not income equality where Sweden ranks better).
We should absolutely tax billionaires more. We should make memes about it to spread the word. We should also make those memes at least kind of accurate.
To understand one significant downside of this - Swedes reading this meme might think that we don’t have a billionaire-taxation problem in our country. That’s actively harmful to the cause.
Just because it’s wrong, doesn’t make it a joke.
Meanwhile in Hungary: if you’re a large business, you pay less tax by percentage than small businesses and self-employed people.
Isn’t Hungary officially the most corrupt country in Europe?
I think #1 in the EU and some strong place somewhere in the top 5 in Europe. It’s gotten SO much worse in the past 10-15 years… And not like it was good before that, to begin with.
I’m personally in favor of land value taxes, externality taxes, and natural resource severance taxes.
Just take everything from the neck up.
For billionaires: there is nothing there.
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.
