Texas' 'Electroline' tax

[cRiPpLe_rOoStEr]

Originally Posted by JSH

Can you expand on that thought? Wealth taxes go back thousands of years and a fundamental parts of both Christianity and Islam.

Someone willing to give money to a religious or charitable institution, which most likely is going to use such money to fund initiatives the donator agrees with, is much different than a government collecting taxes, and once in a while simply creating newer ones instead of addressing its own inneficiencies.

[JSH]

Originally Posted by cRiPpLe_rOoStEr

Someone willing to give money to a religious or charitable institution, which most likely is going to use such money to fund initiatives the donator agrees with, is much different than a government collecting taxes, and once in a while simply creating newer ones instead of addressing its own inneficiencies.

Old Testament tithes were not optional and the church and state were one and the same. You didn't get to choose a charity to donate to.

Some countries carry that same tradition forward to today and zakat is mandatory and collected by the state.

[cRiPpLe_rOoStEr]

Originally Posted by JSH

Some countries carry that same tradition forward to today and zakat is mandatory and collected by the state.

Nowadays this is the exception, not the rule. AFAIK the only "civilized" country where people who declare being affiliated to a religion (Catholic or Lutheran churches) are charged a religious tax.

[carelesswhisper]

the Texas EV fees are definitely steep compared to gas taxes but I think the $200 reg fee isn't entirely out of line when you look at road funding. Gas drivers pay around $240/yr on fuel taxes (1,200 gallons x $0.20). Still, BEV efficiency's off the charts—you're not consuming 1,000 gallons, so it feels unfair. Maybe push for pro-rated fees based on miles driven or actual kWh usage? Fairer for low-mileage BEVs

[redpoint5]

Whelp, pop quiz has been graded.

Originally Posted by aerohead

You won't find it in any textbooks on economics either!
What you're asking about is a theoretical, abstract, hypothetical construct, which has never actually populated 'economics.'

If your annual income were $100-million plus, and Harris-Walz had made it to the White House, even then, your apprehension would end, as 'Congress' killed anything resembling such a legal fiction.

I'll just reiterate the point that "unrealized capital gains" is indistinguishable from any other fictitious scheme; like taxing lotto winnings prior to determining the outcome, or taxing a possible vehicle purchase in the future, now. Only dummies, dodos, and dullards would propose such nonsense.

[JSH]

Originally Posted by redpoint5

Whelp, pop quiz has been graded.



I'll just reiterate the point that "unrealized capital gains" is indistinguishable from any other fictitious scheme; like taxing lotto winnings prior to determining the outcome, or taxing a possible vehicle purchase in the future, now. Only dummies, dodos, and dullards would propose such nonsense.

Taxing unrealized capital gains is no different than property tax. Both are based on the value at a specific time.

Solves the issue of the extremely wealthy that take loans against their stock portfolio to fund their day to day living in order to never actually realize gains and pay taxes.

[cRiPpLe_rOoStEr]

Originally Posted by carelesswhisper

Maybe push for pro-rated fees based on miles driven or actual kWh usage? Fairer for low-mileage BEVs

A New Zealander told me this approach was done with Diesel fuel there, since it's also used for non-road applications. Then, having one dispenser for untaxed fuel and other for road-taxed fuel at the gas stations would be too much of a PITA.

[Piotrsko]

Dunno, at a lot of truckstops here in 'Murica you can get red dyed and taxed clear #2, but generally not at the same island/pump. Really expensive fine for having red dye remains or stains anywhere on your on-road vehicle, and they "stick" you a lot. I have even been pulled over and sticked in the F250 with the travel trailer and kids in the back seat, but that was Colorado and Utah

[redpoint5]

Originally Posted by JSH

Taxing unrealized capital gains is no different than property tax. Both are based on the value at a specific time.

Exactly, which reinforces my point about how corrupt taxing a thing that has not realized the change in value is a horrible idea that only scoundrels or dullards would come up with.

Solves the issue of the extremely wealthy that take loans against their stock portfolio to fund their day to day living in order to never actually realize gains and pay taxes.

I've been leaning toward sales tax to replace all other taxes, so this is another reason I'll add to support my leaning.

That said, taking out a loan incurs fees into perpetuity, whereas selling stock and paying tax on it is a one time expenditure. Not sure how that is a smarter strategy unless one expects the lender to eventually own all assets at the end of your life. At any rate, lenders must pay taxes on collected interest. When value is eventually realized, everything gets settled, including taxes.