3 ms·
I mean, all you'd need is a damping factor via a wealth tax, above some threshold that's still motivating enough. I doubt anyone would call everyone having 1 m
by igorkraw 6y ago
I mean, all you'd need is a damping factor via a wealth tax, above some threshold that's still motivating enough. I doubt anyone would call everyone having 1 million dollars "equality of poverty", and you can make it so that if you are really good at business, you can outrun the wealth tax up to say 100 million $. Oh, and 100% inheritance tax on estates above 1 million, with a buyback right for familiy businesses that allows you to buy back the business at it's current market value over X years (so you actually benefit from inflation).
IFF implemented globally, would you truly argue this disincentivizes creation of wealth? Add inflation and exchange rate adjustments and I honestly don't buy that argument anymore.
NOW, will you have selfish actors trying to game the system and evade these taxes through all means possible? Yes, but that's why I think anyone who supports the protection of private property through state violence and democracy at the same time needs to do some heavy gymnastics to justify tax evasion and dynasty enabling tax policies (i.e., anything that doesn't at least do the 100% inheritance/gift tax bit).
And of course you'd need to implement it either globally or at least in economic powerhouse blocks like EU+US+Canada.