Tariffs...what to make of them.

[Patrick]

Property tax? Property is not wealth?

Acceptable answer.

for many this is their wealth. And has special tax advantages when selling.
I also deduct it from my income, so I don't pay tax on tax....

 

[UtahJoe]

 

[SmooveP]

While I agree, not sure how you promote capitalism and then try to punish those who succeed. Sure, billionaires should probably pay their fair share but where do you draw the line? Tax billionaires more and the guy with $999 million laughs his way to the bank. As stated above if only the income is taxed, and they have the professionals to make it disappear, do you just punish everyone who is rich? How much is rich?

Taxes aren't "punishment". They pay for a lot of the infrastructure that allows those big companies to exist - roads for Elon's cars, public utilities that facilitate providing power for those cars and data centers, etc. Thousands of miles of fiber that make up the internet's backbone are strung along public roads and other rights of way. Internet protocols grew out of DARPA, a taxpayer funded entity. Public education for their brain trusts. I could go on...

As far as lines, we draw them all the time. They're called tax brackets.

What pain would someone like Elon feel if his his taxes went up by 10%? Couldn't buy a 7th vacation home?

 

[Bike N Gear]

Taxes aren't "punishment". They pay for a lot of the infrastructure that allows those big companies to exist - roads for Elon's cars, public utilities that facilitate providing power for those cars and data centers, etc. Thousands of miles of fiber that make up the internet's backbone are strung along public roads and other rights of way. Internet protocols grew out of DARPA, a taxpayer funded entity. Public education for their brain trusts. I could go on...

As far as lines, we draw them all the time. They're called tax brackets.

What pain would someone like Elon feel if his his taxes went up by 10%? Couldn't buy a 7th vacation home?

7000th home