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Asset tax in combination with negative interest rates is the most equitable model in a capitalist society like ours. Use the proceeds to fund a universal basic
by rorykoehler 7y ago
Asset tax in combination with negative interest rates is the most equitable model in a capitalist society like ours. Use the proceeds to fund a universal basic income.
- AdrianB1 7y agoThis is a complete nonsense: it is mixing an economic model with a taxation, gets to social ideas that are anti-economic (why bother having an economy at all if you do redistribution?) and throw the magic word "equitable" in it, all without any supporting argument. It is amazing, better crafted than demo scene.
- deleted 7y ago[deleted]
- rorykoehler 7y agoWhat do you think would happen with an aggressive capital gains tax (including on unrealized gains) and negative interest rates?
- sokoloff 7y agoI'd expect movement of capital away from that economy and a 20+% recession in that economy.
- rorykoehler 7y agoWhere would capital move?
- AdrianB1 7y agoIf that is the only argument, it does not hold.
- rorykoehler 7y agoI'm not sure if you are replying to me or the parent but I'm asking a genuine question. If capital needs to move from investments where would it go?
- stickfigure 7y agoAnywhere? Panama, Cayman Islands, bitcoin, foreign real state, gold... take your pick. Wealth is pretty fluid these days, even for people who live under Chinese-style capital "controls".
- rorykoehler 7y agoTax evasion is not a valid answer. The others are issues though gold would be subject to the same taxation. Moving money abroad is a major issue but its already a major issue (see apple in Ireland or Chinese in Australia).