Mitt Romney: Tax the Rich, Like Me

6 pointsposted a month ago
by throw0101c
(nytimes.com)

5 Comments

slwvx

a month ago

Others wrote their own NYT editorials in response to Romney: https://archive.ph/iPN3E

On a related note: I was intrigued to see Vitalik Buterin talk about wealth taxes in a post today. He favors "diffusing not dollars, but the means of production." So he favors somehow distributing capital and investment more broadly? At any rate, I think it's a sign of strength in the Ethereum community that Vitalik is engaging with these ideas. https://vitalik.eth.limo/general/2025/12/30/balance_of_power...

austin-cheney

a month ago

I would like to see income tax eliminated in favor of estate and capital gains taxes.

If capitalism is actually the goal then wealthy heirs are a hugely inefficient drain on the system of production, retail, and transactions.

slwvx

a month ago

I'm all for higher estate taxes.

If one ignores FICA (social security) taxes, the US has a negative income tax for the lowest income brackets. I think this is a wonderful thing in that it encourages low income people to get into and stay in the workforce, and encourages high income people to focus on investment, due to lower taxes on long-term capital gains.

On the other hand, I'm in favor of higher taxes than income on short-term capital gains, to encourage investors to focus on long-term gains rather than short-term extractive exploitation of assets. I favor lower rates than income tax on long term gains, say assets held for five years.