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One big difference here is that inflation affects everyone equally (not exactly right, but let's ignore that for now). A wealth tax would act as an extra tax on
by maest 6y ago
One big difference here is that inflation affects everyone equally (not exactly right, but let's ignore that for now). A wealth tax would act as an extra tax on ultra wealthy individuals.
- rswail 6y agoThat is absolutely correct. It would be an extra tax on ultra wealthy individuals. That is its purpose. I'm not sure why people think otherwise. Whether you think that purpose is a good reason to have a wealth tax is a separate argument.