thegreatdivide wrote on Aug 20^th, 2026 at 12:07pm:



False.  Unrealised gains are paper gains that can disappear before sale. The money is entirely different. One is a tangible asset and the other an intangible asset. Rents and Returns from shares are tangible and taxed. You really show your ignorance.

So what you want to do is tax something that nowhere else  in the world is doing. What do you think Sorry dumb question.

thegreatdivide wrote on Aug 20^th, 2026 at 12:07pm:


Unrealised gains yes. Rents no. So you want to double tax them annually.

thegreatdivide wrote on Aug 20^th, 2026 at 12:07pm:


Tell that to the people who do payday loans 

thegreatdivide wrote on Aug 20^th, 2026 at 12:07pm:


Which lower tax rate are they operating under?

thegreatdivide wrote on Aug 20^th, 2026 at 12:07pm:


Do the become successful because f or in spite of the tax regime they operate under?

thegreatdivide wrote on Aug 29^th, 2026 at 11:21am:


So you would tax people who did not ultimately make a profit. That says so much about you.

thegreatdivide wrote on Aug 29^th, 2026 at 11:21am:



And that has nothing to do with taxing unrealised gains. Bezos is one individual, who else is on your list?

thegreatdivide wrote on Aug 29^th, 2026 at 11:21am:



So they are "proving" this? How exactly, by taxing their own unrealised gains?

thegreatdivide wrote on Aug 29^th, 2026 at 11:21am:


And iun your view that means taxing unrealised gains? When the billionaires are gone, go for the millionaires, then those with thousands....

thegreatdivide wrote on Aug 29^th, 2026 at 11:21am:


They can always give more money to government, just transfer it, although governments then think they can get easy money, for themselves.

thegreatdivide wrote on Aug 29^th, 2026 at 11:21am:


Nope. you were the one trumpeting an extra 5% tax on rental income.

thegreatdivide wrote on Aug 29^th, 2026 at 11:21am:


A former trader. So now his income is not from trading but writing books? Wow, that must be so lucrative as to want to pay more tax.

thegreatdivide wrote on Aug 29^th, 2026 at 11:21am:


Or who merely spend unwisely, tattos, gambling, drugs...need I go on?

thegreatdivide wrote on Aug 29^th, 2026 at 11:21am:



And you are the master who controls the definition?

thegreatdivide wrote on Aug 31^st, 2026 at 2:23pm:



Nope. Income should be taxed.

thegreatdivide wrote on Aug 31^st, 2026 at 2:23pm:


No it doesn't everybody is allowed to save. That is equality.

thegreatdivide wrote on Aug 31^st, 2026 at 2:23pm:


Which doesn't answer the question asked. "So they are "proving" this? How exactly, by taxing their own unrealised gains?"

So HOW are they PROVING this?

Now how do you differentiate between unrealised gains and the inflationary aspect of those gains?

thegreatdivide wrote on Aug 31^st, 2026 at 2:23pm:



Ah "as defined". by some anonymous twat.And of course these "definitions" will be set in stone and never adjusted down?

thegreatdivide wrote on Aug 31^st, 2026 at 2:23pm:


Which is precisely what governments do.

thegreatdivide wrote on Aug 31^st, 2026 at 2:23pm:


Nope. just that you can't relate. You have said previously all rental income should be taxed at the extra 5%.

thegreatdivide wrote on Aug 31^st, 2026 at 2:23pm:


What no low income housing for their friends? That seems counterintuitive.

thegreatdivide wrote on Aug 31^st, 2026 at 2:23pm:


In all markets there have been people who couldn't afford housing. poor choices abound whether high or low income.

thegreatdivide wrote on Aug 31^st, 2026 at 2:23pm:



And what makes them the masters of the definition? Because they were successful traders, that they predicted the GFC? That does not mean they know squat about policy.

BTW - Tell us about the "patriotic millionaires" and capital gains tax.

lee wrote on Aug 31^st, 2026 at 3:12pm:


You have just displayed your incompetence to continue this debate about the need for wealth taxes.

As for income taxes, they fall most egregiously on wage earners cf wealthy asset owners.   

Quote:


You have displayed your mental incompetence: not everyone CAN save.

Quote:


Dummy lee: a $multi-million portfolio is real wealth, a reality which doesn't have to be proved by Piketty, Stevenson, or anyone elkse. 

1. We agree unrealized gains increases a person's wealth on an ongoing basis (unless the assets concerned lose value, meaning wealth taxes won't apply to those assets).

2.  So presumably you agree with inheritance taxes on extreme wealth  (if unrealized gains on a high-value portfolio are in fact not realized by its possessor while living), at which point the inherited wealth must be be taxed, to preserve equality of tax treatment before the law.

3. Extreme wealth might cause inflation when it is spent....

Quote:


As defined, to allow equality of taxation of wealth, before the law.  Accumulation of massive wealth means less resources availble for the 99%.

Quote:


Dummy lee: governments collect taxes to provide essential services for everyone, including the wealthy who also need a vast network of pubic infrastructure and services.

[Of course, c-i governments COULD fund themselves without taxing (or borrowing from) the private sector, but neoclassical economists, mainmstream politicians and the media are beholden to/in the pay of the rich and powerful, who are effectively preventing dissemination of MMT....a state of affairs which is manifested in your (and subrocky's) ignorance of alternative economic systems eg:

https://publicmoneypublicgood.net/

Quote:


....."can't relate" that extreme wealth is extreme wealth?

Pass. 


Quote:


Dummy lee: no houses which are affordable by Stevenson's siblings' friends - who don't have rich benefactors (like most of the population).

Quote:


Ignorant as usual: Alan Kohler noted (last night on TV); "the present under 35 year-old generation are the first such generation since WW2 to have a lesser chance to buy a house than their parents. 


Quote:


It means Stevenson has a particularly sharp mathematical brain, to bet against mainstream banksters and assorted dumb bond traders,  and consistently win.

Very few people have that sort of mathematical ability.

And when he tees up with economists like Piketty and Zucman, who are NOT in the employ of the rich and powerful, together they are creating a powerfuil movement  to save democracy from Neoclassical economics which is causing unsustainable, soaring inequality while (logically)simultaneously reducing the resources available to the 99%.

Quote:


The advocacy group Patriotic Millionaires campaigns to equalize capital gains tax rates with ordinary income tax rates for high earners, arguing that the current system favors wealth over work

Which is true, but Piketty and Zucman et al understand the issue of unrealized gains also needs to be addressed, to avoid accumulation of extreme individual wealth leading to social instabilty (for reeasons explained above, which your low IQ can't or won't comprehend). 

lee wrote on Sep 1^st, 2026 at 2:58pm:


Low IQ lee: the US Patiots WANT increased taxes on the wealthy. 

[The 'elephant is the room' is the denial by evil 'austerity' Neoclassical free-market economists who insist c-i governements must tax or borrow in order to spend;  see the MMT thread. But the topic here is the need to raise taxes on the wealthy]

Quote:


The question is affordability of essential services- the government's role.


Quote:


Inflation is a result of Neoclassical economics dysfunction; it should be mnaged by government intervention.   

Quote:


"The primary purpose of a testamentary trust is to hold and manage a deceased person's assets for their beneficiaries while offering long-term asset protection and tax advantages 

iow, tax avoidence.

Quote:


Spending on private yatchs and planes? It all increases demand in the economy.

Quote:


Indeed Joseph Stiglitz has addresed this issue (see the latest MMT article.

Quote:


No , the government will be the arbiter.

Quote:


Computerization will aid necessary public spending without increasing inflation, via sensible market intervention.

Quote:


Dummy lee - hasn't heard of the very necessary 'bank of mom and dad'  (for those lucky enough) in today's failed housing market.

Quote:


And yet home owenership rates  are fallig among under 35 year olds.

Quote:


Dummy lee: to consistently win in the financial casino isn't luck. 

Quote:


Their knowledge is gaining attention; the UN will be discussing global inequality this week.

Quote:


Inheritance tax will sort that out.

Quote:


Dummy lee, incapable of seeing poverty and the cost of living crisis are a result of a dysfunctional Neoclassical system.

Bobby. wrote on Sep 20^th, 2026 at 5:14pm:


No, I want a system in which people don't have to choose between paying the rent or putting food on the table, a reality for some in the current cost of living crisis.

Economic fairness is a necessity to save democracy - do try to keep up. 

You can either increase the government's tax take on the wealthy, or fund the government using its currency-issuing capacity (no taxes or borrowing required; see MMT)

https://publicmoneypublicgood.net/

Note: public money, not taxpayer money.

You could do that but it won't help long-term.

People , most people, would always like more cash or sexual partners or bigger muscles or to feel good and content.

There is a right way and an easy way to achieve the above ( or any goal) and they are mutually exclusive.


Cash?  Work hard , start a business, fail , learn , improve
Earning cash is the best self development strategy there is.

The easy/ wrong way ?  Gamble, rob a bank, try to get free cash off rich people.
You learn nothing.

A wealth tax won't hurt the genuinely financial actualized people. In fact it will probably stop a lot of people making the attempt and, paradoxically reduce business competition for the superior independent man.

And because the taker gets cash whilst remaining a child in their world view, they will soon spend it and be worse off then before.

Rather then tax the wealthy , we should demand they give free seminars and courses and mentor people.

White knight could certainly do with some mentoring.
For 10 years I have been giving him book suggestions which could change his life.
He would not have read one, I'm sure.

This is his limiting belief.
People have success barriers coming out their ass.
They don't want to get cash.
They would have to give up complaining and it's their only source of meaning in life

lee wrote on Sep 21^st, 2026 at 5:22pm:


But you are referring to taxpayer money which is collected by the state, by ancient custom. 

Quote:


Indeed: state-printed money ("public money") is not the citizens' money. 

The issue then becomes how to  control inflation, whether public or private money is being spent; excessive spending of either public or private money has the potential to create inflation.