Tax Update Blog: Permalink

Best tax idea, Financial Transactions tax. This taxes non productive activity of the Wall Street exploiters and gamblers. Second best, 100 percent inheritance tax, zero percent income tax. That way people keep what they earn and are encouraged to earn it rather than fluff off of Mommy and Daddy. Worst tax idea, taxing health insurance at least until we make health care a public utility like water, police or fire protection.

Another idea whose time has come is to return capital gains to the same tax rates as ordinary income. The preference has failed to encourage productive investment and has only driven more gambling and speculation. The capital gains preference should be number one on any list of tax ideas which seemed good at the team but are actually bad.