/biz/ - Business & Finance

[Anonymous No.12143372]

can someone explain what is the point in income tax?
here, in the UK, if you're making more than £150,000 you have to pay 45% tax.
This just seems like you're getting punished for providing economic value and also kills a lot of incentive to work hard to create value and get more money.

Would it not be better to just tax things that have a negative impact on social goods due to market inefficiency?

For example, having an increased carbon tax, taxing people who break the law more, taxing people who do damage to roads, taxing companies that pollute their nearby environment.

Also, why are rich people taxed more than poor people in terms of percentage?
This just seems fucking retarded.

[Anonymous No.12143379]

steve bannon is that you? are you baiting neets again?

[Anonymous No.12143385]

>>12143372
point im trying to make is, how does taxing rich people more help the economy in a more efficient way than taxing things that have a negative impact on social goods?

[Anonymous No.12143411]

>>12143379
n-no

[Anonymous No.12143421]

>>12143385
By taxing certain goods u make others choose different goods n kill markets

Why the rich, because they understand how the game is played therefore the tax evens the playing field while also keeping most from getting too op and overtaking the government

[Anonymous No.12143442]

>>12143421
>By taxing certain goods u make others choose different goods
well yes thats the point. so if a company is polluting a nearby river with plastic and making it impossible for the generations that follow to ever use or enjoy it, they must pay tax on whatever kind of plastic they are buying. This puts a cost on their damages. If there was no tax, there would be no economic consequence to their actions.

But now, if they want to keep on using the same kind of plastic, they are forced to pay the cost. Ideally the tax would amount to whatever it would cost to then REPAIR and fix the river.

So you kill two birds with one stone. 1) the government gets more tax. 2) the economy and welfare of the people are still in its best possible state

I'm saying why not have more taxes like these instead of taxing income, which only hinders economic activity and kills a lot of incentive to work hard.

[Kekovicius !!seZ2sXABmE3 No.12143476]

Imagine having a kid that comes home one night with wads of cash. You'd want to know where they got it and take a percentage to pay the rent and utilities. "As long as you're staying under my roof..."

[Anonymous No.12143483]

>>12143372
You're 100% right OP.
The only reason we have progressive taxes is the crabs-in-a-bucket mentality. Simple greed.
When you make a million dollars as an entrepreneur, you're basically throwing free money into the economy so poor people can live easier lives. It's very easy to convince people that someone else having money makes you poorer. Just the opposite.

[Anonymous No.12143491]

>>12143476
supisti tripfagai

[Anonymous No.12143496]

>>12143372
Okay listen dipshit, not everything has to be "o-oh we want to reduce bad behavior so let's do this" or whatever. The government needs money to run so it taxes income because, news flash, people earn a lot of money from employment. In the UK in particular that's 30% of all tax revenue. That's it.

[Anonymous No.12143506]

>>12143372
>can someone explain what is the point in income tax?

To pay the interest ONLY on the national debt!
Look up 'The Grace Commision'

Seriously fuck all the other NPC Anons read this!

[Anonymous No.12143657]

>>12143372
>he took the redpill
I have believed in flat tax rates for a long time.

Just a flat of 10-15% on all individuals and businesses. Those who do well and drive the economy up and forward are not penalised for doing so and still pay more tax than the average NEET.

tax brackets are for socialist scum

[Anonymous No.12143669]

>>12143496
>The government needs money to run so it taxes income

It also taxes every single transaction (VAT). Now, tell me again why should the government also tax income.

Have you ever calculated how much of your income goes to pay taxes in some for or another (AKA income, VAT, property, luxury, adverse etc.)

I think your jaw would drop if you did that. You're easily paying over 80% of your income in taxes.

[Anonymous No.12143680]

>>12143372
the US is an enormous country with an enormous military to fund

wtf are your taxes even paying for, your infrastructure was built centuries ago lol

[Anonymous No.12143697]

It's simple, taxes exist to change incentives and behaviors. Government taxes income, because it doesn't want people making income. Same way sales tax discourages sales. and VAT discourages adding value.

Politicians want you poor and starving. If you're doing well, obviously something is terribly wrong.

[Anonymous No.12143708]

>>12143697
People dependent on their government are easier to control

[Anonymous No.12143727]

>>12143442
>Ideally the tax would amount to whatever it would cost to then REPAIR and fix the river.

Yeah, but instead the taxes are used to fund the welfare of niggers who pollute even more that the company. In reality it's double negative.

[Anonymous No.12143822]

>>12143442
This is called Pigovian tax. It's difficult to execute it effectively, as its often hard to measure "externalities". This is also where traditional economics ends and economic anthropology beings.

[Anonymous No.12143824]

>>12143372
Tax revenues from the top tier account for most of the total collected, there are a few people paying for most of the basic stuff.

Think about if met your friends for lunch, but when you meet them they have decided you will all eat at their friendly, local worm farm, because it is all they could afford. Since you are not good at digging around for worms in the ground you might be happy to subsidize everybodies visit to enjoy a delicious meal at McDonalds. You paid more money, but everybody is happy

[Anonymous No.12143831]

When George Harrison wrote "Taxman" in 1966, the line "one for you, nineteen for me" wasn't a joke; the Beatles were literally taxed 95% under Wilson's Labour government.

And where was Britain 10 or 20 years later? In a fucking ditch.

[Anonymous No.12143849]

>>12143442
Those damages are subjective, it doesn't work. A better solution is to privatize the land instead, so the landowners are responsible for the well being of their property. A private lake-owner will not allow his lake to be polluted without a good reason.

[Anonymous No.12143860]

>>12143849
Unless he doesn't know, or he's irresponsible, or he doesn't give a fuck.

Privatizing everything doesn't always work.

[Anonymous No.12143869]

>>12143372
Rich people bad
Gibs me dat fo free.

[Anonymous No.12143887]

>>12143860
yes it does. if the property owner is dumb, he will go bankrupt, his assets liquidated, and somebody less dumb will buy it. if he's lazy and doesn't make earn enough off the land, somebody who can will purchase it from him. the reason why pollution breaks everything is because it concerns public land which is not put up for purchase on the market and thus cannot be transferred over to the most efficient owner.

do you even know capitalism?

[Anonymous No.12143953]

>>12143887

And if he takes money to let people pollute his lake?

See where this is going?

[Anonymous No.12144326]

>>12143887
That lake owner will soon soon collude with nearby industry-body (chamber of commerce) and will start accepting money to pollute his lake. As long as cash flows to him, he gives a fuck !

This is the root issue with rampant abuses possible in current design of capitalism. It looks good in theory (much "trickle down economics") but in reality its abused to death.

The issue is not with capitalism, but with certain loopholes which seems to hard (measure net environment and public health damage caused by the polluted river) to fill up.

[Anonymous No.12144352]

>>12143372
you don't have to pay the full 45% tax. there are a lot of deductions you can seize in order to lighten your tax burden.

[Anonymous No.12144368]

>>12144326
I think we should allow these greedy bastards to pollute everything / rape mother earth to its death. They understand economics but deny to understand economic anthropology. Only purpose of human on this earth is to create wealth out of nature by fucking its to death and then deny any wrongdoing.

If you haven't completely brainwashed by economics classes taught in Uni, I request you to read following books

- http://ascentofhumanity.com/text/
- https://www.amazon.com/Stone-Age-Economics-Routledge-Classics/dp/1138702617

We should fucking kill those who designs university economics curriculum without any introduction to Economic Anthropology (which is usually buried deep under to be discovered by Redpilled)

[Anonymous No.12144399]

>>12143385
Because you can't increase your economy just buy preventing certain bad things from happening think of it this way how can Julie and Brandon have 5 kids if they don't get that welfare check

[Anonymous No.12144402]

>>12143372
Dunno about You Kay however, the U.S used to fund the central gov't via tariffs. Income tax was a meme put in place on the richest dudes to help fund some war. They were supposed to remove it but obviously expanded it because greedy traitors. VERY fun fact! The founding fathers would shriek and tremble at modern income taxes. This theft, it's enough to stop a man's heart.

The worst part? Your pounds are being teleported straight into the pocket of a fat bereuacratic faggot who's stealing money with via "administrative costs." The government must shrink. We ought to be having more than a tea party.

[Anonymous No.12144470]

>>12144402
>This theft, it's enough to stop a man's heart.

>it's enough to stop a man's heart.
This I agree with

>This theft
This is, however, false by definition. You're agreeing to the taxes as long as you live in the system. Nobody is keeping you from moving out.

I'm not saying the tyranny of majority is a good thing, just that the "muh taxation is theft" is a meme.

[Anonymous No.12144484]

>>12143372
>here, in the UK, if you're making more than £150,000 you have to pay 45% tax.

I'm never going to have to worry about that because I'm never going to get anywhere near to earning that

[Anonymous No.12144492]

>>12143657
Based and redpilled.

[Anonymous No.12144542]

>>12144470
Move out to where? I can't even own my own fucking land, it'll be repo'd and auctioned right from under me if they don't shoot first. Another country? Same problems, different system, on top of being an alien. Become a "mountain man" in the jungles of South America? Live in the African countryside?

Where, anon, do you propose I fucking move to? The one place where I could seemingly live unmolested is Antarctica.

It's guarded by every state on this accursed planet.

[Anonymous No.12144563]

>>12144470
>Nobody is keeping you from moving out
Yes they are lmao, all land is owned and taxed. There is no place left to try life on your own.

[Anonymous No.12144823]

>>12144542
>Move out to where? I can't even own my own fucking land

Another country. One that doesn't require you to pay taxes.

>>12144563

>Yes they are lmao, all land is owned and taxed. There is no place left to try life on your own.

Nah, they aren't. Move to Somalia or some other country. I bet you can find one that either requires a minimum amount of taxes or none at all.

[Anonymous No.12144873]

>>12143372
45% is the punishment for not hiring an accountant

[Anonymous No.12144890]

>>12143372
it is how the entire uk exists, you pleb, it's not like the money all goes on marshmallows and cider.
how else should it be done, by taxing the poor? taking more from people who already have nothing? that just means they get in debt, can't pay, and any repayment would be useless because the currency becomes valueless.

[Anonymous No.12144918]

>>12143372
tax the poor, i agree.
are the poor people creating jobs? NO.

[Anonymous No.12144925]

>>12144918
>>12144890
i did not say "tax the poor".
did you even read the OP?

[Anonymous No.12144961]

Protip answer:

The government spends money by borrowing from the Bank of England. This money is created from nothing and causes an increase in the money supply. Taxes is essentially pulling money from circulation to fit the other side of the double entry when money is created. It is like matter and anti-matter.

Because our governments in the west buy votes with unfunded promises this is why taxes are so high.

[Anonymous No.12144971]

>>12143849
What about a river or the coast line where the effects travel beyond property lines?

[Anonymous No.12145018]

The biggest success of the american dream is that it convinced every 80iq mutt that they are going to be the next big shot millionaire, so they let themselves get fucked up the ass by the rich since they think that any day they will be rich and get to fuck people up the ass as well.
But in reality they are the biggest wagecuck slaves with laughable conditions even though they live in the richest country on earth.
>tfw live in successful & comfy high-tax, high-trust society.

>>12144918
>Also, why are rich people taxed more than poor people in terms of percentage?
>This just seems fucking retarded.

[Anonymous No.12145104]

>>12145018
damn, very accurate

[Anonymous No.12145152]

>>12144918
>tax the poor, i agree.
Unironically yes. Tax people whose spending habits make them remain poor and unproductive. Impose high tariffs and taxes on shitty consumer goods like TVs, luxury cars, video games and fleshlights. There should be no income tax, just tariffs and VAT. It would increase purchasing power and give the government a powerful tool to influence trends in productive directions.

[Anonymous No.12145168]

Grow up and move out of the suburbs. Taxes fuel everything you never even knew you benefit from.

[Anonymous No.12145241]

>>12143372
you have to keep the shit tier part of your society fed or they revolt

[Anonymous No.12145639]

>>12145018
so you're saying you live in a country that is more 80iq-mutt-friendly?

i like my 80iq mutts fucked in the ass, just like nature intended, thank you very much

[Anonymous No.12145913]

>>12144823
Name one country on this planet that doesn't require an alien to pay taxes.

[Anonymous No.12146914]

>>12144402
>They were supposed to remove it but obviously expanded it because greedy traitors

Once a tax is imposed, IT WILL NEVER BE REMOVED.

The more interesting question actually is why the fuck are the income taxes so high while there are barely any taxes on a person's networth or assets (this is not a UK only issue)?