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We normally try to tax income or consumption for a reason, because taxing capital is incredibly damaging. And we could seize all of Bezos net worth, and it wou
by valuearb 6y ago
We normally try to tax income or consumption for a reason, because taxing capital is incredibly damaging.
And we could seize all of Bezos net worth, and it would only cover a few weeks of federal spending. Of course we could push it closer to 2 months including Bill Gates, Elon Musk, and Warren Buffett, but what do we do when we run out of billionaires in a couple years?
- captainredbeard 6y agoIt's also very difficult to cheat w.r.t. wealth taxes vs. income taxes, which for any appreciable amount of money are trivial to trace.