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Re: FSF taking money from outsourcers


From: John Hasler
Subject: Re: FSF taking money from outsourcers
Date: Fri, 30 Apr 2004 10:33:09 -0500
User-agent: Gnus/5.1002 (Gnus v5.10.2) Emacs/21.2 (gnu/linux)

Christopher Browne wrote:
> Supposing I own a "holding company," which has income of $500K/year
> coming in, and I can personally afford to live on $100K/year, then I
> could avoid taxes on the $400K/year just about indefinitely by not
> bothering to pay it out.

You would also not be benefiting from the $400K but rather investing it,
which is generally considered a social good.  When you or your heirs
eventually did pay it (and it's earnings) out taxes get would be paid.

Income taxes should be paid on funds disbursed to or expended for the
benefit of a natural person.

Stefaan writes:
> But the value of the shares would go up commensurately, and this would
> also be taxed, requiring a payout so that the shareholders have the funds
> to pay their taxes.

Not in the US.  There is no fair way to determine the current value of
shares without selling them.

> Plus you could have a fortune tax, like we have here in Luxembourg.

So those who are unfortunate enough to own something which suddenly
increases in value (farmland near a city, for example) but do not have
large incomes are forced to sell.
-- 
John Hasler
address@hidden (John Hasler)
Dancing Horse Hill
Elmwood, WI


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