Even if taxes don't change, the inflation tax goes up every year for 2 reasons.
First, your wage loses X% of its buying power every year so if you don't get a wage increase you just lost X% of your earnings forevermore.
Second, higher wages are taxed at higher rates due to progressive taxation, so despite having the same buying power on your new wage you're taxed more.
Third, inflation causes nominal capital gains that aren't real. Let's say that you bought enough stock to buy a basket of goods in 1980. If you sell the stock, assuming it kept up with inflation it should buy the same basket of goods. The problem is that the number of dollars it takes to buy the same basket of goods doubled (even if you believe the "inflation has been 2% lie) so the stock doubled, and so now you owe taxes on a 100% gain, even though it didn't actually gain value. In that sense, inflation *is* a wealth tax because the government gets a cut despite your wealth not increasing.
First, your wage loses X% of its buying power every year so if you don't get a wage increase you just lost X% of your earnings forevermore.
Second, higher wages are taxed at higher rates due to progressive taxation, so despite having the same buying power on your new wage you're taxed more.
Third, inflation causes nominal capital gains that aren't real. Let's say that you bought enough stock to buy a basket of goods in 1980. If you sell the stock, assuming it kept up with inflation it should buy the same basket of goods. The problem is that the number of dollars it takes to buy the same basket of goods doubled (even if you believe the "inflation has been 2% lie) so the stock doubled, and so now you owe taxes on a 100% gain, even though it didn't actually gain value. In that sense, inflation *is* a wealth tax because the government gets a cut despite your wealth not increasing.
- replies
- 2
- announces
- 10
- likes
- 13
@sj_zero my mom's car insurance has gone up over 400$ a year. why? not because she's had a ticket or accidents or bought a new vehicle or anything. because auto thefts in the region have exploded 400% in 2 years. wonder what happened
@charliebrownau @sj_zero the problem is trudeau has pozzed the entirety of ontario. unless you live in the muskokas or something year round, it's forced indians as 99.9% of the population
@Dan_Hulson @graf @sj_zero Why? Too many Muslims who didn't pay magic carpet insurance driving up rates?
@graf @charliebrownau @sj_zero I had an Uber driver in Mississauga explain to me that if you had a car you didn’t have to ask women for consent. Guess where he was from….
@BowsacNoodle @graf @sj_zero Foreigners cause crashes and hit and run and we have epidemic of car thefts too due to the lesser races
@Dan_Hulson @BowsacNoodle @sj_zero its true mate my gf's family had their truck with tools broken into two or three times in an attempt to steal it and they finally succeeded all within like maybe a half year
@MK2boogaloo @Dan_Hulson @graf @sj_zero idk about the laws in the UK or America jr, but here in America it’s legally required to have car insurance if you own a car, so it’s another unavoidable and rapidly inflating tax for most law abiding citizens
@Dan_Hulson @graf @sj_zero Same thing happening in parts of the USA. Michigan has "no fault" rules for wrecks I think and they love to exploit this and hit and run. Rates there are insanely high as a result.
@MK2boogaloo @graf @sj_zero it used to be easy to get away with but it's a nightmare these days if you drive past the pigs they automatically know if you have insurance or not and arrest you if don't (if you stoopid enough to pull over that is) and if you a nigger they will likely do nothing to you
@jimmybuffettfanaccount @MK2boogaloo @Dan_Hulson @graf @sj_zero Insurance covers legal costs of vehicle crash "victims" suing the living daylights out of each other all the time. That's why it's (((required))). Nothing more and nothing less.
@jimmybuffettfanaccount @MK2boogaloo @Dan_Hulson @graf @sj_zero Car insurance is mandatory here in Denmark as well.
@Titanbreakerkun @jimmybuffettfanaccount @MK2boogaloo @Dan_Hulson @sj_zero in saskatchewan, a place with minimal indians and other minorities the government handles the insurance and its usually less than 50$/mo -- a dip of more than 2/3 from ontario for the same vehicle. some residents can register for 50$ per year
@graf @BowsacNoodle @sj_zero Only an utter nigger steals people's tools and fucks with their livelihood and they deserve to have their hands crushed in a vice
@Dan_Hulson @graf @BowsacNoodle @sj_zero I pray the abo's never know about my work shop and it's contents.
@WaifuPoaster88 @Dan_Hulson @graf @BowsacNoodle @sj_zero Just leave a couple of half full gas cans by the door.. they'll never make it past that point..
@HonkHonkBoom @Dan_Hulson @graf @BowsacNoodle @sj_zero funny thing is I have two empty jerry cans near the door I have them there because I need to fill them back up.
@jimmybuffettfanaccount @MK2boogaloo @Dan_Hulson @graf @sj_zero in my state you can't even get a license without insurance, even if you don't own a car. Its fucking retarded. Arizona will let you do a 40k bond instead of insurance but fuck that
@graf @Titanbreakerkun @jimmybuffettfanaccount @MK2boogaloo @Dan_Hulson @sj_zero When I had looked at that decades ago it was against the law to sue their state insurance arm, I'd imagine that it's still the same (and maybe only a state actor could get away with such a setup anyway).
I was forced to get commercial insurance for a truck, didn't want it or need it and given a different reason why every time I asked why.
Found out it doesn't count as insurance so now that the truck is gone, it's like I'm a new driver. WTF
Found out it doesn't count as insurance so now that the truck is gone, it's like I'm a new driver. WTF