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Collecting revenues is not the point of wealth taxes. These are explicitly meant to punish success at getting wealthy.

• Dylan16807 6y ago
  The "punishment" of being slightly less rich is not a punishment. Revenue is the point. Or, more specifically, lowering the tax burden on the people that can't trivially shrug it off. Also it's possible to be in favor of reduced spending and a wealth tax, so that certain other taxes can be double decreased.
  • xyzzyz 6y ago
    > Or, more specifically, lowering the tax burden on the people that can't trivially shrug it off. If you look at the estimates of the actual revenues obtained from wealth tax, you’ll see that they are laughably low compared to total tax receipts, and as such will not reduce the tax burden on anyone in any meaningful way.