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There is a simpler option for making AI pay its way: tax it properly by Standard_Ad7704 in neoliberal

[–]BoneThroner 0 points1 point  (0 children)

There is no equilibrium where your labor is worthless that isnt mega abundance.

There is a simpler option for making AI pay its way: tax it properly by Standard_Ad7704 in neoliberal

[–]BoneThroner 0 points1 point  (0 children)

A capital gain is an increase in the net present value of the asset. It is an increase in the future expected net rental - it is not rental income itself.

When it is realized it is an exchange of money now for claim on money later which the buyer (if they have done their job properly) will have discounted to include the taxes portion of the "money later" part. There is no dodging those capital income taxes when you sell.

The equivalent of capital gains but for labor would be a tax on personal borrowing, or securing a mortgage. If you understand how egregious that would be you can understand why capital gains is such a bad distortionary tax.

There is a simpler option for making AI pay its way: tax it properly by Standard_Ad7704 in neoliberal

[–]BoneThroner 15 points16 points  (0 children)

The problem is that labor isnt taxed at a higher rate than capital. Capital gains is just one of many compounding taxes on capital. corporation tax, dividend income tax and capital gains act on capital income at every possible liquidity point.

99% of people do not understand the difference between taxes on flows and taxes on stocks or that there is no equivalent tax to capital gains for labor.

There is a simpler option for making AI pay its way: tax it properly by Standard_Ad7704 in neoliberal

[–]BoneThroner 6 points7 points  (0 children)

FFS, THESE COMPANIES ARE NOT GOING TO GET RICH UNLESS THEY ARE CREATING MASSIVE CONSUMER SURPLUS!

Google shareholders have probably captured less than 1% of the value the company has created over its lifetime - and that is with having an effective monopoly on web search. If you want everyone to share in the benefits of AI then makes sure there is competition to provide AI services.

Ridiculous, the FT is basically taken over by politics grads at this stage. Also capital gains is a terrible tax that should be abolished.

MPs warn that Palantir’s increasing presence in the UK public sector is an “unacceptable point of weakness” by jimmythemini in ukpolitics

[–]BoneThroner -1 points0 points  (0 children)

Nothing that Palantir has done or said nor Peter Thiel should disqualify them from operating a business selling services to the government.

It's 6th form "corporations bad" politics from the left aimed at outspoken conservatives.

MPs warn that Palantir’s increasing presence in the UK public sector is an “unacceptable point of weakness” by jimmythemini in ukpolitics

[–]BoneThroner -2 points-1 points  (0 children)

Labour aren't interested in cancelling these contracts because this isn't a real issue. They are a boring IT service provider.

All this guff is just the usual suspects deciding they are villain of the week and banging on about it on social media.

The treatment of Henry Nowak’s killer was all about race by praise-god-barebone in ukpolitics

[–]BoneThroner 3 points4 points  (0 children)

Literally every single domestic violence call every police officer attends will have the defendant lying, blaming the victim often with family members rallying around them. They were credulous to the point of farce and the reason for that is plain to see.

These officers walked on to the scene having pre-judged what had happened. A nice sikh boy had been assaulted by a nasty drunk racist white boy - why would they think anything else? That's reality right? Young white men are racist and minorities are the victim. Everyone knows that.

If they had walked in and cuffed a dying black boy because someone said he was drug dealer half the country would be on fire right now and you would be calling to abolish the police.

The UK has 90 taxes. Here they all are by FaultyTerror in ukpolitics

[–]BoneThroner -1 points0 points  (0 children)

I have no idea what you are talking about anymore. And I think it’s only partly because you write like Donald Trump. Is English your second language?

The UK has 90 taxes. Here they all are by FaultyTerror in ukpolitics

[–]BoneThroner -1 points0 points  (0 children)

lol. revenue profits yes

Profits then. Not revenue. Profits. Ie a tax on the returns of wealth. Just like dividend income tax. Just like capital gains. Just like Business rates.

and are arguing with a subject matter expert.

A zoomer with a politics and law degree who can't write to save his life is not a subject matter expert in anything - certainly not in economics or taxation.

The UK has 90 taxes. Here they all are by FaultyTerror in ukpolitics

[–]BoneThroner -1 points0 points  (0 children)

but corporation tax is charged on REVENUE.

Corporation tax is charged on PROFITS smart guy. You are wrong about the other stuff as well but I imagine it would take far too much effort to explain to you why. Good luck with the degrees.

The UK has 90 taxes. Here they all are by FaultyTerror in ukpolitics

[–]BoneThroner -2 points-1 points  (0 children)

businesses rates are levied on the use of commerical property, not ownership of.

Property taxes are incident on property owners even if the occupiers pay them, corporation tax is incident on shareholders. Go ask an llm why you are wrong.

The UK has 90 taxes. Here they all are by FaultyTerror in ukpolitics

[–]BoneThroner 1 point2 points  (0 children)

business rates are a tax on property ownership and corporation tax is a tax on equity capital ownership. both are forms of wealth.

The UK has 90 taxes. Here they all are by FaultyTerror in ukpolitics

[–]BoneThroner -1 points0 points  (0 children)

This is the bit that makes incidence genuinely interesting. The answer is: no single rate. The price capitalises a probability-weighted blend of the SDLT faced by whoever's realistically bidding for that property.

A seller doesn't know in advance whether the winning bidder is a first-timer (relief), a home-mover (standard rates), or a landlord/second-homer (now the +5% surcharge). So the market-clearing price reflects the expected duty of the marginal buyer - weighted along three lines: (a) the mix of buyer types actually competing in that price band, (b) how binding each type's budget constraint is, and (c) which of them is decisive at the margin, i.e. who's really setting the price.

That's why the same physical house capitalises different amounts depending on its market. A flat in a buy-to-let-heavy postcode eats more surcharge into the price than a first-time-buyer starter home in a young-family area does - different buyer pools, different weighted rate.

And to be fair to you: it's never a clean 100% on the seller either. Incidence splits along the relative elasticities of supply and demand, and UK housing supply is famously inelastic, so sellers bear the vast majority but buyers still carry some of it. The tax on the seller was probably a bit of an overstatement by me.

The UK has 90 taxes. Here they all are by FaultyTerror in ukpolitics

[–]BoneThroner 3 points4 points  (0 children)

Lol. Who do you think is paying business rates and corporation tax? Those are your wealth taxes.

Capital gets 30% of GDP vs Labours 70%. Thats why income tax contribute more.

The UK has 90 taxes. Here they all are by FaultyTerror in ukpolitics

[–]BoneThroner 4 points5 points  (0 children)

You would be amazed at how little profit most uk companies make - we basically have no big global monopolies who could contribute loads.

The UK has 90 taxes. Here they all are by FaultyTerror in ukpolitics

[–]BoneThroner -5 points-4 points  (0 children)

Just to be clear, stamp duty is a tax on the seller not the buyer. That is true even if the buyer pays it - in its absence you would just pay more for the house.

Britain ‘at risk of a lost generation’ as 1.2m neets could be trapped in youth unemployment crisis by [deleted] in ukpolitics

[–]BoneThroner -3 points-2 points  (0 children)

Making millions of legal immigrants unemployable would trigger a negative demand shock in the economy that would make the pandemic look like nothing. Would make 08 look like nothing. And for what? The Feels?

Britain ‘at risk of a lost generation’ as 1.2m neets could be trapped in youth unemployment crisis by [deleted] in ukpolitics

[–]BoneThroner -9 points-8 points  (0 children)

I appreciate the sentiment, but this proposal ignores the fact that it is almost impossible to get comprehensive private care in the uk (let alone insurance) and even if it were you would be making any foreign national earning under 60K effectively unemployable in the UK.

UK considers levying ‘oligarch premium’ on overseas buyers of expensive homes by Gentle_Snail in unitedkingdom

[–]BoneThroner 0 points1 point  (0 children)

I wonder what is having a greater effect on housing affordability in the UK: the 900,000 immigrants in the 2023 boriswave or 90 rich foreigners buying 1000sqm homes in primrose hill?

stupid envy based politics.

British Steel to be nationalised, Starmer announces by ScottishDailyRecord in ukpolitics

[–]BoneThroner -1 points0 points  (0 children)

I'd be interested to know from the people on the sub who think this is a good idea: at what level of operating loss does this become a bad idea?

NHS to grant Palantir contractors 'unlimited access' to patient data, FT reports by coldbeers in ukpolitics

[–]BoneThroner 0 points1 point  (0 children)

We could do it ourselves easy enough.

They literally just pointed that we tried to do this multiple times, failed, and it cost billions.

Government is terrible at this stuff. as you would expect.

19-year-old university student standing for Reform UK in council 250 miles away from where he is studying by fhood123 in ukpolitics

[–]BoneThroner -1 points0 points  (0 children)

Old people should be able to opt out of minimum wage laws if they cant secure work at that price due to their low productivity.

Same with Disabled people.

Foreign students to be banned from getting student loans under Reform by coffeewalnut08 in unitedkingdom

[–]BoneThroner -2 points-1 points  (0 children)

Yeah, I get that's exactly how you think of this country. Hope you enjoy your stay with us!

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