I just paid income tax.
Part of it was from corporate job, and part of it was from holding and selling Bitcoin in 2017.
And of course I feel morally wronged. What did I do against the society that I’ve got to pay so much for it? The money I oficially had to pay for merely speculative gains are the equivalent of:
- about 250 parking tickets (or littering, or public drinking)
- about 100 average speeding tickets
- 5 strong laptops
- 10 decent laptops
- 10000 cans of average beer
Who the hell invented progressive taxation? You even don’t have to earn a fortune to be fined very heavily. Not even close. I just did well this year.
I didn’t do that well in the previous years, in fact I was quite poor back then. And I cannot calculate that into the cost of previous years good performance.
That’s fucking frustrating. I consider changing the country, cause cryptocurrencies will rise once again (after they end their current decline), and again I will be able to profit. This time I am not willing to be fined that much for it.
It’s true that some amount of state intervention is necessary and brings more good than harm.
Unfortunately income tax, capital gains tax, value added tax, property tax etc. all punish the productive people, who make and consume all kinds of goods and services.
But production itself is not something evil, harmful, and costly to the society. So what is costly?
- Environmental impact (water use, CO2 emissions, dust, smoke, noise).
- Health impacts of goods (i.e. someone who drinks and smokes more is more likely to get sick, which might burden public health system)
- Use of public space (like cars occupying the roads, leading to congestion, which is then relieved by constructing more roads, which is costly and allows even more traffic).
- Use of public services (like subsidised goods, energy etc.).
And these are the domains that are ethical to tax.
These kinds of institutional transformation would provide much more efficiency and prosperity for society. It could eliminate road congestion, promote new technology in environmentally sound way, or even allow more green cities and towns without invading private property.
Isn’t that great that city or state can shape it’s future?
Then why is that still taxing productivity, even if good, instead of shaping it for the better?