alt Hacker NewsWhat's wrong with a 20% tax? We who make a living from labor instead of capital pay more than that.
Paul tries to frame it as an increase of 20% in the tax rate, but in reality the increase is from 0% to 20%, and it's hard to see why that's unfair.
The reason I say it's currently 0% is of course that for the wealthy most of these 5% gains are unrealized (e.g. inflation in the value of their assets) and untaxed.
> most of these 5% gains are unrealized (e.g. inflation in the value of their assets) and untaxed.
The worst part is that even when they need to realize their profits, they have schemes that allow them to avoid taxes (guess how much taxes Musk paid for his $20B realized profits from his Tesla shares he sold to buy Twitter).