4 ms·
"wealth tax of 0.85% of net worth every year" Interesting. That's very much in line with what my experiments showed: just on a computer model of incredibly pri
by Applejinx 8y ago
"wealth tax of 0.85% of net worth every year"
Interesting. That's very much in line with what my experiments showed: just on a computer model of incredibly primitive 'economics', you can use an incredibly tiny wealth tax to redistributive effect. I think you can even ditch a lot of sales, income tax etc. if you're prepared to do a wealth tax. It seems to be very effective but this is the first I've heard of it actually being done anywhere.
- marvin 8y agoSee also https://news.ycombinator.com/item?id=14828357 https://news.ycombinator.com/item?id=14828357 for a summary of the most important Norwegian taxes, which I posted elsewhere. Summarized as of last year.
- tonfa 8y agoIt's not that uncommon. Many Swiss cantons have a progressive wealth tax. France used to have one but it's now limited to real estate holdings.
- sobani 8y agoThe Netherlands also have it, sort of. It started of as a 30% capital gains tax, but at some point the government was like: "Math is hard, let's pretend 4% return on capital." and we effectively ended up with a 1.2% wealth tax. In the last few years they realized that wealthier people have a higher return on capital and the effective wealth tax is more progressive with an effective wealth tax of ~1.6% at the highest bracket.