Quote:
Originally Posted by Barry-xlovecam
You have to get out of this euro mind funk of paying 20-25% VAT and working for 1/3 or 1/2 of USA wages.
There is only maybe 10% - 15% to be saved from the $3 trillion a year spent on healthcare - or ration it. That is still $400 billion per year maybe.
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And the US has to get out of the mind funk that low taxes are good for a modern economy.
Let me explain how taxes in areas like share profits and capital gains. They don't tax the initial amount, they only tax the income from those areas. So if I buy a piece of land with already taxed money, say $20,000 and make a 100% profit. They only tax the profit which is income.
Must suck to pay tax on the original $20,000 which as you say has already been taxed.
Or do you expect the profit/income from these dealings to be tax free?