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You can absolutely tax net worth. It's not difficult at all. You can add/increase property taxes. You can tax wealth above a certain amount. You can add/increa
by kungtotte 8y ago
You can absolutely tax net worth. It's not difficult at all.
You can add/increase property taxes. You can tax wealth above a certain amount. You can add/increase taxes on stock market speculation and holdings, and other financial instruments.
Whether you'd want to is a different matter, but saying you can't do it is factually incorrect.
- moate 8y agoright. The story told is that the money in the market (stocks, shares of companies, holdings, real estate, etc) is playing a part in creating wealth for everyone, and therefor better served by being left where it is. there's 0 reason you can't say "this person is reporting holding, assets and liquid wealth of 2 billion dollars, so he owes X% back to the state." The issue is that typically the wealthy have the most influence over tax code, and they use net worth as a way to keep their money out of play. But, like, you know, Amazon being worth so much money is really helpful to everyone because...reasons.