for nye

[Mint]

Exactly. Wealth similarly confers a benefit even when it isn't "exercised."

[Kuciwalker]

Uh, no. Wealth you never spend is just like an option you never exercise - worthless.

[Dinner]

Taxing saving is retarded. I see no reason to penalize somebody who makes the same wage as somebody else, but chooses to save 10% rather than spending his whole salary.

Increasing 401K exemptions would allow for increased tax free savings. Personally, I'd like to see a forced savings program (tax free, of course) as it would be a great way to recapitalize banks without devaluing the dollar by having the fed print more money.

[Kuciwalker]

Increasing 401K exemptions would allow for increased tax free savings.

Or you could eliminate the need for the ridiculous complex retirement plan regulations by not taxing savings in the first place. The only reason 401(k) plans exist is their tax-favored status.

edit: hmmmmm. If we switched to a consumption tax I would probably be out of a job...

[Hauldren Collider]

The only reason 401(k) plans exist is their tax-favored status.

QFT

[KrazyHorse]

What do you consider to be a tax on saving?

If you can't figure that out then you need to spend some time thinking about it.

[KrazyHorse]

Increasing 401K exemptions would allow for increased tax free savings. Personally, I'd like to see a forced savings program (tax free, of course) as it would be a great way to recapitalize banks without devaluing the dollar by having the fed print more money.

Increasing 401K limits would be great. Even better would be for the government to simply stop penalizing savings, period.

[KrazyHorse]

A consumption tax would allow us to expropriate the idle rich and baby boomers, in addition to dramatically increasing efficiency.

Win-****ing-win

[notyoueither]

If you can't figure that out then you need to spend some time thinking about it.

Increasing 401K limits would be great. Even better would be for the government to simply stop penalizing savings, period.

I have thought about it, and I think it is obvious why someone who intends to move for work as well as invest in markets would be very fond of abolishing income taxes in favour of financing government through consumption taxes he may never pay.

[Drake Tungsten]

A consumption tax would allow us to expropriate the idle rich and baby boomers, in addition to dramatically increasing efficiency.

Win-****ing-win

QFT

[Hauldren Collider]

baby boomers

[Drake Tungsten]

The Baby Boomers ruined the developed world.

[Kuciwalker]

I have thought about it, and I think it is obvious why someone who intends to move for work as well as invest in markets would be very fond of abolishing income taxes in favour of financing government through consumption taxes he may never pay.

If he never pays the consumption tax then he's just charitably donating a bunch of money to the rest of us.

[KrazyHorse]

Now, now. I obviously have some sort of nefarious plan to live without consuming.

[notyoueither]

If he never pays the consumption tax then he's just charitably donating a bunch of money to the rest of us.

Assuming he remains in the same jurisdiction for his entire life, you may be right.

Can you assume that people would stay in the US for their entire lives if they could escape paying large consumption taxes on their savings by changing addresses after retirement?

Are you going to tax capital movement across borders?