Taxation VI

[jokerman]

It's your choose

[bullmoose88]

Generally Wealth, although I could see the problems with it (namely those who have saved etc and are living off savings rather than income falling subject to the tax...maybe an exemption for "low wealth people")

[MaC]

None are great, but I'd prefer the taxes be on consumable items.  I have a problem with my labor being taxed directly.  If consumables were taxed higher in place of lowering income tax it would at least encourage an amount of fiscal constraint on people and savings could be used better.  Still, I hate taxes either way

[opebo]

Income, obviously. 

[Speed of Sound]

Income, obviously. 

^^^^^^^^^^^^^^^^^

[Democratic Hawk]

Not consumption. Between income and wealth, I opted income

Dave

[MODU]

Income, obviously. 

^^^^^^^^^^^^^^^^^

That means you tax the "poor" more unfairly than the "rich."

I would tax the Wealth of the individual more than anything else.  You would generate a higher tax base off of the true wealthy people in the nation, while being able to raise the low-end cut-off level, sparing more of the "poor" in society from having to pay taxes.

[nlm]

A combination of consumption and unearned income with the understanding that government spending would need to be greatly reduced.

[Frodo]

Before I answer, what exactly is the difference between being taxed on income, and being taxed on wealth?  In other words, what is the difference between income and wealth?

[jokerman]

Before I answer, what exactly is the difference between being taxed on income, and being taxed on wealth?  In other words, what is the difference between income and wealth?

What do you mean?

Income is income.  Wealth is the accumulation of value in assets, material or money.

[Frodo]

Option 3, then.