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There are several benefits that the wealthy generally take advantage of that the average person does not. Three big ones are: 1. An educated workforce 2. Enfo

There are several benefits that the wealthy generally take advantage of that the average person does not. Three big ones are: 1. An educated workforce 2. Enforcement of private property 3. Bailouts and junk bond purchases Most businesses benefit from a workforce which they do not need to pay to "produce", but merely hire at an hourly rate. Private property is only really possible in a system that allows it, otherwise might = right, and we would be talking about the 1% with the biggest biceps. My pet solution is a wealth tax. For those who argue that wealth is hard to trace, see point 2, the system can be designed to allow only declared private wealth.

zhoujianfu 6y ago
Is the easiest way to implement a “wealth tax” just higher inflation?
- andrepd 6y ago
  Not really because ideally you want to exempt the first say 1 or 2 million from the tax.
  - inter_netuser 6y ago
    so UBI + inflation?
- 0xfaded 6y ago
  Every dollar is ultimately backed by something. An increase in money supply is not by itself a bad thing, but if those new dollars don't result in the creation of new assets on the other side of the balance sheet, the new money will just shuffle around to eventually map onto the same existing assets. In the worst case, the momentum this creates will cause people to follow suit and throw their savings into the asset market creating a bubble.
bluecalm 6y ago
>>work force If you want to tax that why not payroll tax? >>Enforcement of private property Land value tax? >>Bailouts While they are people benefiting from that it's people in specific industries and/or connections to politicians. Your average 1%'er is not in position to benefit. We can all agree though that bailouts are bad but it's not a tax problem is a problem with a flawed system that induces a lot of short term pain if a given company fails and politicians being able to convince the public bailouts are necessary.

zhoujianfu 6y ago

Is the easiest way to implement a “wealth tax” just higher inflation?

andrepd 6y ago
Not really because ideally you want to exempt the first say 1 or 2 million from the tax.
- inter_netuser 6y ago
  so UBI + inflation?
0xfaded 6y ago
Every dollar is ultimately backed by something. An increase in money supply is not by itself a bad thing, but if those new dollars don't result in the creation of new assets on the other side of the balance sheet, the new money will just shuffle around to eventually map onto the same existing assets. In the worst case, the momentum this creates will cause people to follow suit and throw their savings into the asset market creating a bubble.

bluecalm 6y ago

>>work force If you want to tax that why not payroll tax? >>Enforcement of private property Land value tax? >>Bailouts While they are people benefiting from that it's people in specific industries and/or connections to politicians. Your average 1%'er is not in position to benefit. We can all agree though that bailouts are bad but it's not a tax problem is a problem with a flawed system that induces a lot of short term pain if a given company fails and politicians being able to convince the public bailouts are necessary.