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if you just got it for free
All those of us that aren't 100% bought into the labour theory of value are triggered by this statement. In a normal economy (i.e. not QE/ZIRP) there should be some sort of price for risk capital.
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I don’t disagree, but one of the benefits of making the levels the same across each type is it removes many of the incentives to disguise one type of income as another. I expect if inheritance was taxed higher than income then a bunch of schemes would appear with the effect that large inheritances would start being manipulated into structures that allowed the beneficiaries to end up taking the value as income
(I don’t know how, but I’m sure some enterprising type will figure out the details)
NickCJ
duncs
@Hefty
I feel like CGT and inheritance tax should be higher than income tax. Like, if you worked to earn it you should pay less tax than if you just got it for free.