Centinel
Banned
- Joined
- Oct 12, 2011
- Messages
- 2,984
- Reaction score
- 1,366
- Location
- Penn's Woods
- Gender
- Undisclosed
- Political Leaning
- Independent
New owner of the money since it changed hands. New tax on it with the new owner. Thus, it has not already been taxed on current owner.
That is the way money works. The same money is taxed again and again and again when it changes hands - just like an inheritance.
So just to be clear, your position is that any time money changes hands, that money represents income to the new owner and ought to be taxed?
My position is that $800,000.-- earned in wages should be taxed on the same schedule as $800,000.00 in capital gains or $800,000.00 in inheritance money.
So are you saying that any time money changes hands, that you regard the recipient of the money as having received income? It's a simple question; I'm not sure why you're dodging.