Fortunately, the general public doesn’t read BeechTalk or this thread or they would be playing those small violins for those of us with the business/disposable income to debate the merits of various Citations and other business jets, have the world’s best compendium of Piaggio information, or why the Mustang is unbeatable if it does your mission, etc…. and reads posts why it’s a bad idea to tax “rich” people more. They won’t buy it and the politicians who pander to them know it.

It may not make economic sense to tax unrealized gains (or any gains, for that matter), or raise ordinary income rates for top wage earners, but as the bank robber once said, “that’s where the money is.”

It will be interesting to see where all the tax policy stuff goes but in the meantime… how about that crazy low inventory??

I just hope the crazy low inventory is still here in 2 years when my new airplane arrives and I sell my G36!!!

That's the point, there is no "money", it is all virtual value.

Suppose the government decides my business is worth $100M and says I need to pay a 1% tax on that every year? I'd be out of business immediately and my workers out of jobs.

This tax on equity will greatly discourages businesses from going public. The last thing you want is your stock having a market value that you will be taxed against. What happens then? The general public is locked out of participating in exciting new businesses and the wealthy venture capitalists will be the only ones who can get in.
How is that promoting fairness? Seems like it will further increase the economic divide.

Mike C.

The US Treasury just reported record level revenue. Why all the talk to change the tax system? (Rhetorical question)

https://www.politico.com/news/2021/10/1 ... mic-515792

The taxation of unrealized gains is exactly what Real Estate taxes is based on. You are paying tax on some estimated market value of your property year after year. You have not yet received the cash from that gain in value but you are certainly being taxed on it.

We pay income taxes to finance the operation of the country. When certain individuals and business entities can reap great rewards or live lavish lifestyles without having to pay one cent towards the cost of running the country, there is a problem. When the 55 largest U.S. Corporations pay zero in Income Taxes, yet my ninety year old mother who lives on Social Security and a modest pension pays several thousand dollars per year in Income Tax, there is a problem.

Could it be possible that the wealthiest Americans and most profitable business entities obtained their wealth by taking advantage of ordinary citizens and that one role of our government is to level the playing field through the redistribution of wealth? I remember an Economics professor of mine talking about this very subject long ago.

Maybe if our Middle Class was as prosperous as it was in the 1960s and 1970s, there would be more demand, production and sales of light aircraft. Maybe there would be more Flight Training and aircraft rental activity. Maybe our Insurance Rates would be lower as the pool of aircraft and Pilots would be much larger. Maybe…

Taxation has many forms, these people pay taxes… a lot of taxes. That’s the idea, be careful not to restrain their reinvestment by taxing their income (paper) but tax the income of all of their employees, purchases, property, etc.

To say they don’t pay ordinary income taxes may be technically accurate, but they do pay taxes. They pay a lot of taxes, they invest a lot of money in their companies to avoid taxation, and they employ a lot of people.

This flawed, broken system we have has created more wealth than the world has seen. We should think about what might happen if we start making changes to it. Saying someone doesn’t pay their fair share is justification to do something that is non-sensical.

Bill Gates for one whose family connection got him his start with IBM and MS-DOS. Bezos parents funded his startup. 4.9B in subsidies for Musk. And I never said tax evasion. What they do is completely legal, thanks to affording lobbyists and Congressmen. He who owns the gold makes the rules. And the rules definitely benefit them. It is sad the rules legally aid them in avoiding a tax burden on their wealth like the rest of us.

I know what's more sad.... there is no tax on peddling influence. If the current admin really wanted a cash cow they should tax that.

I’m not defending those two bozos… but who contributes more to the US Government’s coffers… me or them?

This habit of demonizing the wealthy is a cancer that will destroy our society and remember it doesn’t end with a Bezos or a Gates level of wealthy… it ends with your level of wealthy.

Tax the evil rich means the people reading this… not the handful of uber wealthy.

It's fun to talk about federal taxes and spending when you realize how lucky we are to be the world's largest reserve currently and borrow/print about half of what we actually spend.

If they only printed more airplanes for each of us...airplanes would be free..

I’m not defending those two bozos… but who contributes more to the US Government’s coffers… me or them?

This habit of demonizing the wealthy is a cancer that will destroy our society and remember it doesn’t end with a Bezos or a Gates level of wealthy… it ends with your level of wealthy.

Tax the evil rich means the people reading this… not the handful of uber wealthy.

The tax laws of our country are egregious in their politicization.

I've not read one comment here that shows the least understanding of the real issues.

Don't worry, I'm not going to try to educate anyone.

You should just know that you don't know.

Jg

"Fair share"