this post was submitted on 15 Mar 2024
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The NL system which has been working for a while works by saying:
We don't care about your capital gains, you'd just try to game the system, we'll pretend you invest everything into a relatively safe bond scheme, and tax your capital income based on that. Meaning we tax wealth as if it was guaranteed income at 4% interest per year. If you gamble and lose, tough break, you still owe the same taxes, as you are bearing the risk on investments, not us.
Most state bonds are quite a bit lower than 4%, and even business bonds (I take bonds in some football clubs as a reference, because they tend to do quite prominent ads on them) only do 5-6%.
I just checked, the current assumed income on investments and assets in general is 6.17%. You pay a 35% tax on that income, so in effect a ~2% wealth tax per year.