Quote:
Originally Posted by Barry-xlovecam
Paul it's my fucking money I paid the income tax on it -- income tax is not a VAT or a consumption tax.
I don't have a problem with a VAT tax in fact I think that financial transactions should be subject to some transfer tax.
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It is your money, tax paid .... Leave it in your mattress , use it at will , and you will pay no further INCOME tax .
But if you put it to work ( stocks, real estate, etc ... ) and that brings back a PAY , that pay is to be taxed ( maybe at a lower % ) .
The gov could give an exception level ( here in Canada 500K) , but there is no reasons why only SALARIES should be taxed ....
