All of you nerds out there who studied the theory of taxation in college, you are in for a Christmas treat with this article.
The rest of you: come along for the ride—the story in this article is far too important to be left to the nerds and the experts. After all, it is about taxes.
Over the past several months, there has been an intense political debate over fair taxes on both sides of the Atlantic Ocean. In America, it was centered around an idea that Kamala Harris, the Democratic Party’s presidential candidate, tried to win voters with. She proposed a tax on so-called “unrealized capital gains”.
On the European side—or at least in Britain—Prime Minister Keir Starmer ignited the tax-fairness issue by proposing a significantly higher inheritance tax on farms.
Both these tax ideas are bad in their own way, but they have an even worse common denominator that makes them bad—both economically and, from a conservative viewpoint, morally.
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