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The (US) government today has a tax on investment returns. Tallying up the buys and sells seems like to be a much more complicated than keeping track of the tot
by sobani 7y ago
The (US) government today has a tax on investment returns. Tallying up the buys and sells seems like to be a much more complicated than keeping track of the total wealth.
The way you accomplish this is by asking everyone: "What's your total wealth?" and then doing random audits.
- friendelschudel 7y agoThe very wealthy don't have liquid and easily-appraised assets. Calculating the total wealth of someone who owns art, jewelry, real-estate, historical artifacts, animals, and fractions of many international businesses is impossible. The idea that the wealthy can just print off a report from their TDAmeritrade account and turn it into the government is laughable. Even they don't have any real idea how much wealth they have.