3 ms·
Our income taxes are already progressive. Wealth gets a free pass: https://www.nytimes.com/2012/11/19/opinion/to-reduce-inequality-tax-wealth-not-income.html ht
by rcpt 8y ago
Our income taxes are already progressive. Wealth gets a free pass: https://www.nytimes.com/2012/11/19/opinion/to-reduce-inequality-tax-wealth-not-income.html https://www.nytimes.com/2012/11/19/opinion/to-reduce-inequal...
What we really need are land taxes and progressive consumption taxes.
- mcny 8y agoI disagree with you on this. While I support higher land taxes, the reason is to prevent land and homes from sitting vacant. I'm not trying to reduce inequality. I'm just trying to fund essential services. As for taxing wealth, I think the best bet is a Paris Hilton tax of 90% for inheritance exceeding a certain value (I propose 100x yearly minimum wage or $3M at $15/hour). So if you inherit more than $3M over your life time, all additional inheritance will be subject to 90% inheritance tax.