4 ms·
Basic income from a millionaire's perspective?
- pragmatic 16y agoWealth is notoriously hard to measure. What is the absolute value of your house right now? The local gov't values your home by a complex system that often does not reflect reality; it may be several years out of date. (see current US home debacle) How do you value a retail store? The value of the real estate, the building, gross sales, etc, etc. Truth is until you find someone else to buy it, you don't know what it is really worth (or what someone will pay for it). Compare this to income. You know exactly what you make every week/fortnight/month. It's easy to extract a percentage of this. There is little ambiguity. Hence, for the foreseeable future, a wealth tax just isn't practical. (Imagine estimating the worth of your computer equipment, TV(s), jewelry etc...EVERY YEAR).