Peter Obi recently called on the federal government to start taxing the wealthy in Nigeria, for which he has received criticisms.

The reality, however, is that unless a nation's wealth comes from unlimited high value natural resources, it must devise smart and sensible strategies for taxing its people including the rich. The idea is, the more money you make, the more the government is likely to tax you, based on your assets or lifestyle.

I did some research into how US taxes their heir wealthiest citizens, and here are my findings. Notice how these taxes are primarily targeted at the rich

1. Luxury Taxes: In many states, including California, New York, Florida, Illinois, and Texas, taxes are levied on luxury items such as expensive cars, yachts, and jewelry. Adopting such taxes in Nigeria could significantly increase government revenue, enabling it to provide better services for all.

2. Progressive Income Tax: States like California, Oregon, Maryland, New York, and Minnesota implement progressive income taxes at both state and local levels, targeting high-income earners. This ensures those with greater financial resources contribute more.

3. Capital Gains Tax: If you invest in assets (like stock, crypto etc) for over 1 year, you're subject to long-term capital gains tax. It's usually lower than income tax rates, but people within higher income brackets may pay increased rates, including a 3.8% net investment income tax.

4. Dividend Taxes: High-income earners who receive qualified dividends are taxed at the capital gains rates.

5. Estate Tax: Also called "Death Tax". It applies when someone dies and their property is transferred to someone else (e.g. relative). Note that this is primarily targeted at expensive estates. For example, if the property value is below $6 million USD in New York, the recipient doesn't pay estate tax.

The people who claim they know how to govern have no idea what they're doing. Oya now, give way now let the people who know how do the job take over, No way

🤣🤣🤣

Smart man!

Same Peter that has moved his stash of loots to tax free safe havens!

Peter can fool many but not all!

He should repatriate his stashed loots and let the government start taxing the rich!

Like Nigerians don’t know all of them stash their loots offshore. So what’s left to tax!

Peter be wasting internet data, and same time acting like a saint.

Too much stealing from the top

This obi guy is beginning to irritate me Pro max.. don't know why

nlfpmod

AllenSpencer:
🤣🤣🤣

Smart man!

Same Peter that has moved his stash of loots to tax free safe havens!

Peter can fool many but not all!

He should repatriate his stashed loots and let the government start taxing the rich!

Like Nigerians don’t know all of them stash their loots offshore. So what’s left to tax!

Peter be wasting internet data, and same time acting like a saint

Even if his money is abroad, he still has assets and lifestyle in Nigeria which could be subject to tax.

That aside, in a civilized society, Peter Obi will be given huge tax breaks because he's been donating huge sums to charity and doing a lot of charity work like drilling boreholes etc.

socialmediaman:


Even if his money is abroad, he still has assets and lifestyle in Nigeria which could be subject to tax.

That aside, in a civilized society, Peter Obi will be given huge tax breaks because he's been donating huge sums to charity and doing a lot of charity work like drilling boreholes etc.

That’s the same thing other will do. Move the bulk of their cash and investment to offshore accounts and register start delving into charities

That same tax cut you mentioned will apply to all.

Who Are the ones that do n how many such taxes did the pandora criminal introduce in Anambra ?!

Tinubu never implemented as single one of this your lame suggestion and as triple in multiple fold the IGR of the state, that is what Nigeria needs not this your foolishness.

You also left out the most important tax on the rich that need to be introduced, any bastard especially Pandora criminal with foreign account in any tax Haven be it on their daughters like Gabrielle daughter of Peter Pandora Obi should auto forfeit 80% of such account balance to the FG monthly, failure to disclose existence of such account by any act of negligence ommission or commission should let to outright beheading on live coverage of such individuals. This should apply to all political expose person.

socialmediaman:
The people who claim they know how to govern have no idea what they're doing. Oya now, give way now let the people who know how do the job take over, No way

blancsn1:
Who Are the ones that do n how many such taxes did the pandora criminal introduce in Anambra ?!

Tinubu never implemented as single one of this your lame suggestion and as triple in multiple fold the IGR of the state, that is what Nigeria news not this your foolishness.

You also left out the most important tax on the rich that need to be introduced, any bastard especially Pandora criminal with foreign account in any tax Haven be it on their daughters like Gabrielle daughter of Peter Pandora Obi should auto forfeit 80% of such account balance to the FG monthly, failure to disclose existence of such account by any act of negligence ommission or commission should let to outright beheading on live coverage of such individuals. This should apply to all political expose person.

Your comment is very incoherent. Use something like ChatGPT if you can’t write correctly. School isn’t a scam

Same man stashed his own looted funds outside the country. He even forgot the origin of his nickname "Pandora Obi" lol.

Hypocrisy stinks.

socialmediaman:


Your comment is very incoherent. Use something like ChatGPT if you can’t write correctly. School isn’t a scam

he is much given to abuse like a drunk instead of interrogating issues.