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How about a wealth tax on everything above $10MM? Suddenly 99% of the world is no longer discouraged from being fiscally responsible. Do I really care if a bil
by Mandatum 6y ago
How about a wealth tax on everything above $10MM?
Suddenly 99% of the world is no longer discouraged from being fiscally responsible. Do I really care if a billionaire is fiscally irresponsible? Maybe for a single generation. After that, we're good.
- andersonvom 6y agoThis is already how things work in the US: you only need to file if your estate is greater than 11.5MM as of 2020 [1]. "As a result, only about 2,000 estates per year in the US are currently liable for federal estate tax." [2] The argument that it "discourages living frugally" is just complete nonsense. [1]: https://www.irs.gov/businesses/small-businesses-self-employed/estate-tax https://www.irs.gov/businesses/small-businesses-self-employe... [2]: https://en.m.wikipedia.org/wiki/Estate_tax_in_the_United_States https://en.m.wikipedia.org/wiki/Estate_tax_in_the_United_Sta...
- deleted 6y ago[deleted]
- niij 6y agoWhat GP proposed was a Wealth Tax which is an additional tax on _living_ people who have a net worth over a certain amount. What you linked is an Estate Tax (aka death/inheritance tax) which only applies when someone passes wealth on after death. If they decide to give all their money away to charity or otherwise spend it while they're alive it does not apply.