Capital gains get preferential tax treatment. A look-back approach can be used to tax capital gains as ordinary income, eliminating the tax system's preference for capital over labor and reducing accumulation of astronomical individual wealth.
These are really very good thoughts, but I am afraid that as long as at least one party refuses to compromise on anything, it will be very difficult to even get the debate that is needed. With the recent decision of the judicial wing of this party, any future positive development will be even more difficult.
I agree with you that it is hard to be optimistic right now about even having sensible debate on big issues. But I think that we need to try and that our best hope is to strive for win-win solutions, where multiple stakeholders win something important to them. That’s why I’m looking for win-win potential solutions to seemingly intractable issues. Otherwise, we’re just going to bounce back and forth between two poles and get further and further apart.
Whenever I think of my granddaughter, I feel compelled to try!
Yes, I see your point. Have you ever had any reaction to your proposals from someone outside the narrow circle of sensible people? Local politicians, maybe?
Not much. Two local politicians expressed some interest during primary season on my articles about gerrymandering but have not followed up post election 😀. I plan to follow up with the one who will be elected to the NC general assembly.
Now that I've completed this proposal I plan to write some letters to leaders I think might be receptive. But I don't have much hope that that will be effective.
Realistically, it probably would take some money and serious lobbying effort to have a real chance to get proposals like these in front of legislators who might be interested.
Some of the representatives from Connecticut are quite good, but given everything that's going on, I doubt they would do much about this. I could certainly write to my local congressperson.
I would think, right now their priorities are around fortifying as much of our rights as they locally, as opposed to seeking progress on some of the enduring problems of inequality.
It would be great if you would write to your congressperson.
While this approach to capital gains taxation clearly relates to inequality and taxing wealth (in the transition phase), it is also a key part of my proposal to help address the power of money in politics (https://www.winwindemocracy.org/p/2022-06-reducing-power-of-corporate-money). The enormous power of money in our political system is, imo, one of the major threats to our rights. When you write, it would be good if you could connect to that idea as well as inequality.
BTW, the next newsletter issue will start discussing inequality specifically.
These are really very good thoughts, but I am afraid that as long as at least one party refuses to compromise on anything, it will be very difficult to even get the debate that is needed. With the recent decision of the judicial wing of this party, any future positive development will be even more difficult.
I agree with you that it is hard to be optimistic right now about even having sensible debate on big issues. But I think that we need to try and that our best hope is to strive for win-win solutions, where multiple stakeholders win something important to them. That’s why I’m looking for win-win potential solutions to seemingly intractable issues. Otherwise, we’re just going to bounce back and forth between two poles and get further and further apart.
Whenever I think of my granddaughter, I feel compelled to try!
Yes, I see your point. Have you ever had any reaction to your proposals from someone outside the narrow circle of sensible people? Local politicians, maybe?
Not much. Two local politicians expressed some interest during primary season on my articles about gerrymandering but have not followed up post election 😀. I plan to follow up with the one who will be elected to the NC general assembly.
Now that I've completed this proposal I plan to write some letters to leaders I think might be receptive. But I don't have much hope that that will be effective.
Realistically, it probably would take some money and serious lobbying effort to have a real chance to get proposals like these in front of legislators who might be interested.
Some of the representatives from Connecticut are quite good, but given everything that's going on, I doubt they would do much about this. I could certainly write to my local congressperson.
I would think, right now their priorities are around fortifying as much of our rights as they locally, as opposed to seeking progress on some of the enduring problems of inequality.
It would be great if you would write to your congressperson.
While this approach to capital gains taxation clearly relates to inequality and taxing wealth (in the transition phase), it is also a key part of my proposal to help address the power of money in politics (https://www.winwindemocracy.org/p/2022-06-reducing-power-of-corporate-money). The enormous power of money in our political system is, imo, one of the major threats to our rights. When you write, it would be good if you could connect to that idea as well as inequality.
BTW, the next newsletter issue will start discussing inequality specifically.
Thanks for your interest in all of this Kristof.