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No one has mentioned that wealth taxes that have been tried before in other developed countries have not gone well, so based on that alone I'm skeptical. And I
by oehtXRwMkIs 6y ago
No one has mentioned that wealth taxes that have been tried before in other developed countries have not gone well, so based on that alone I'm skeptical. And I heard about this from Planet Money (NPR) so I don't think this is some idea planted in my head by "media owned by wealthy".
- rrrrrrrrrrrryan 6y agoI think the main argument is that the French billionaires are much more mobile - they were able to simply relocate a few hours away to a nearby French-speaking country. Any sensible wealth tax proposal in the U.S. would probably have to pair it with a similar tax on the transfer of assets abroad.
- foofoo4u 6y agoI think you raise a good point. Why have so many developed countries abandoned wealth taxes? According to wikipedia > Some other European countries have discontinued this kind of tax in recent years: Austria, Denmark (1995), Germany (1997), Finland (2006), Luxembourg (2006) and Sweden (2007). source: https://en.wikipedia.org/wiki/Wealth_tax#Historical_examples https://en.wikipedia.org/wiki/Wealth_tax#Historical_examples The WSJ has their take https://www.wsj.com/articles/where-wealth-taxes-failed-11572910833 https://www.wsj.com/articles/where-wealth-taxes-failed-11572.... Criticisms within the same wiki article can probably shed extra light into why https://en.wikipedia.org/wiki/Wealth_tax#Criticisms https://en.wikipedia.org/wiki/Wealth_tax#Criticisms