Taxing unrealised capital gains

[Paul O Mahoney]

It appears that it’s not going ahead in the US. Moderate democrats are against it. All the billionaires will just leave.

we should never forget that capital is mobile. If Irish taxes keep increasing money and business and smart people will go to where they get the highest return. Basic economics. Basis of the EU.

I doubt much of the wealth is held in the US . It's the same argument but it doesn't make it true

 

[noproblem]

Might be a good idea to incentivise people to invest their wealth for the common good, with rewards of not actual money as such, but ? People may not like it, but wealth will always be with us. If it's taken away in huge extra taxes, you can only surmise as to what will happen. Jealousy is an awful trait in the world today, sadly becoming more so.

 

[Bluefin]

It's definitely very much an Irish one..

 

[Nicklesilver]

Philanthropy should be encouraged more by the system. Smart business people maybe better at investing in society than governments.

 

[Purple]

Might be a good idea to incentivise people to invest their wealth for the common good, with rewards of not actual money as such, but ? People may not like it, but wealth will always be with us. If it's taken away in huge extra taxes, you can only surmise as to what will happen. Jealousy is an awful trait in the world today, sadly becoming more so.

I think wealth is a great thing. Personally I'm very fond of it. I'm also fond of a stable and reasonably fair society (equality of opportunity, not equality of outcome). In order for society to be stable the general population need to know that if they are smart and work hard they have a realistic opportunity to acquire wealth. The more wealth is concentrated in Capital and away from Labour the more that opportunity diminishes, the more stratified society becomes, the more we need to built walls around our houses. I don't like that.

 

[Horatio]

we should never forget that capital is mobile. If Irish taxes keep increasing money and business and smart people will go to where they get the highest return. Basic economics. Basis of the EU.

Yes! Exactly that.

Take your business elsewhere. It's not only the reserve of extremely wealthy either what with much of the workforce able to conduct their business from anywhere with a flat surface, a chair and th'inthernets.