Can you please clarify these few questions for me:
In your policy, TOP says: "Our proposal is to deem a minimum rate of return on all productive assets, including housing and land", and that "All productive assets […] produce income each and every year, not cash necessarily but income nevertheless." 1) How is the 'annual productive asset tax' any different to taxing an unrealised capital gain? 2) Wouldn't taxing all capital gains be a more efficient, determinable and transparent tax policy? 3)You say capital gains taxes don't work toward the goals TOP wants to achieve, why so? 4) How does your policy propose to determine the value of return on a productive asset with no cashflow or assessable income related to it? 5) What if the asset actually made a loss that year? 6) How will this policy avoid the chances of double taxation for people who intend to accept a capital gains tax on sale of their property? 7) Have you purposely avoided the 'elephant' of capital gains tax because of its hot political nature, or because you really don't believe it would be effective?
Do you like this suggestion?