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In forum Knew The News · Knew The News, the unique community driven news prediction game we have discussed various aspects of how overly wealthy but inactive users could become less prominent over time.
Please add solution proposals as postings in this thread (no discussion herein please!) and vote up or down those you like/dislike.
Please add solution proposals as postings in this thread (no discussion herein please!) and vote up or down those you like/dislike.
Replies:
gotmick 
(2) 
Instead, focus the boards on a rolling 6 or 12 month period and create a separate "All-Time Hall of Fame" board.
Yuri (1) (2)
Daily tax of 2% on net value of players of anything over $2,500. Negative cash allowed. Up daily bonus to $500.
kruijs (3)
Keep the highest ever reached net-value as life-time achievement on a special Leaderboard (All-Time Hall of Fame), but let the actual net-value decline over time.
Stephen Tilley (3)
Don't tax wealth - tax surplus cash!
It would be unfair to tax investments in long-term positions but cash that is not being used indicates a lack of interest in the site so may be targeted.
However:
1) we must allow for the fact that people do go on vacation so any daily levy should not apply until after, say, 15 days without signing in.
2) we must allow a minimum cash reserve of, say, $5,000 to enable sleepers to get back into the game.
As to the rate I'd say 1% per day would be suitable.
It would be unfair to tax investments in long-term positions but cash that is not being used indicates a lack of interest in the site so may be targeted.
However:
1) we must allow for the fact that people do go on vacation so any daily levy should not apply until after, say, 15 days without signing in.
2) we must allow a minimum cash reserve of, say, $5,000 to enable sleepers to get back into the game.
As to the rate I'd say 1% per day would be suitable.
kruijs (2) (1)
First step has been implemented: A new Leaderboard - Wealth - AllTimeNet was introduced to meet the criterion that life-time achievements should even be preserved whenever a user quits playing.
My proposal on tax:
- A daily tax round is introduced.
- Accounts who made any transactions (buy or sell) within the last seven days are not taxed
- Accounts under 20K value are not taxed
- Accounts inactive at least one month are taxed, an information is being sent to the user about this
- Tax rate starts at 0.1% in the first week, 0.5% second week, 1.0% third week, 1.5% thereafter
- (applying an 1.5%, a 5M value would reduce to 20K within 1 year, the account loses ~10% value within its first week)
- We don't call it tax but "inactivity penalty"
My proposal on tax:
- A daily tax round is introduced.
- Accounts who made any transactions (buy or sell) within the last seven days are not taxed
- Accounts under 20K value are not taxed
- Accounts inactive at least one month are taxed, an information is being sent to the user about this
- Tax rate starts at 0.1% in the first week, 0.5% second week, 1.0% third week, 1.5% thereafter
- (applying an 1.5%, a 5M value would reduce to 20K within 1 year, the account loses ~10% value within its first week)
- We don't call it tax but "inactivity penalty"
kruijs (1) (2)
My second proposal on tax:
- Every account, regardless activity is taxed
- Accounts are taxed each day with 1%
- Remaining time before tax-round is displayed prominently to suggest race conditions
This force people to keep invested, and to keep returning to the site.
- Every account, regardless activity is taxed
- Accounts are taxed each day with 1%
- Remaining time before tax-round is displayed prominently to suggest race conditions
This force people to keep invested, and to keep returning to the site.
I guess I will have to cancel my plans for a year long round the world cruise. Actually I haven't been able to find any cruise lines that will accept my KnT$s as payment anyway.
A few questions about proposal #1.
How long must an account be idle before the tax is imposed?
One line says no tax if the account is active in the last 7 days. A different line says accounts inactive for at least a month are taxed. Though both statements could be true there is room for confusion as to what happens in weeks 2, 3 and 4.
Does this inactivity penalty apply to cash only as Mr. Tilley suggested above or does it apply to total wealth?
A few questions about proposal #1.
How long must an account be idle before the tax is imposed?
One line says no tax if the account is active in the last 7 days. A different line says accounts inactive for at least a month are taxed. Though both statements could be true there is room for confusion as to what happens in weeks 2, 3 and 4.
Does this inactivity penalty apply to cash only as Mr. Tilley suggested above or does it apply to total wealth?
kruijs (1)
sorry, "within the last seven days are not taxed" must read "within the last month are not taxed", applies to cash only - not total wealth
kruijs (2)
The deal:
- Daily Activity Reward is increased to 1,000 KtN$,
- Daily Inactivity Penalty of 1% of cash value, for accounts which were inactive for the last 24h
- Daily Activity Reward is increased to 1,000 KtN$,
- Daily Inactivity Penalty of 1% of cash value, for accounts which were inactive for the last 24h
More Lenient deal:
Same as above,
- Daily Activity Reward is increased to 1,000 KtN$,
- Daily Inactivity Penalty of 1% of cash value, for accounts which were inactive for the last 24h.
But would include,
- 52 Tax Free days per year. ( could be prorated to 15 for the rest of this year )
These would be similar to Vacation Days, Sick Days and Personal Days that many workers receive from their employers. Members will still have to visit the site on average 6 days each week to avoid paying a tax. A system with a 7 day grace period could allow members to visit the site only one day a week and still avoid paying the tax.
Same as above,
- Daily Activity Reward is increased to 1,000 KtN$,
- Daily Inactivity Penalty of 1% of cash value, for accounts which were inactive for the last 24h.
But would include,
- 52 Tax Free days per year. ( could be prorated to 15 for the rest of this year )
These would be similar to Vacation Days, Sick Days and Personal Days that many workers receive from their employers. Members will still have to visit the site on average 6 days each week to avoid paying a tax. A system with a 7 day grace period could allow members to visit the site only one day a week and still avoid paying the tax.
kruijs (1)
@charlesf,
Currently, the tax is only imposed after 30 days and two reminders are sent before. Is that okay?
Cheers!
Currently, the tax is only imposed after 30 days and two reminders are sent before. Is that okay?
Cheers!
Even once a month users can maintain their wealth without being taxed. That is more than fair and more generous than my proposal. Definitely Okay with me. I gave it my thumbs up.
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