4 ms·
Would a wealth tax in America work?
- blacksqr 7y agoA wealth tax on individuals in constitutionally problematic. I think a more workable plan would be a corporate wealth tax, levied as a percentage of total stock value, or as a fallback, a corporate gross income tax. A corporate wealth tax would solve the problem of profits sequestered in foreign subsidiaries, since as long as the value of those subsidiaries is reported and reflected in the total stock price, the foreign business activity would be effectively taxed, even if the profits are never repatriated.