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> Basically zero support for it. Wealth taxes are extremely well-supported, despite the media as an industry [and politicians] being owned by people strongly m

> Basically zero support for it. Wealth taxes are extremely well-supported, despite the media as an industry [and politicians] being owned by people strongly motivated to campaign against it all costs, e.g.: https://www.reuters.com/article/us-usa-election-inequality-poll-idUSKBN1Z9141 https://www.reuters.com/article/us-usa-election-inequality-p...

ping_pong 5y ago
Wealth taxes don't work. It was tried in Europe in many countries and they ended up rolling them back.
- teachingassist 5y ago
  First, this is not true. I live in a country in Europe and I paid a wealth tax today, in fact. Second, please re-read my comment above as to why you might have understood that.
  - ping_pong 5y ago
    Nothing you said contradicts what I said.
- bernawil 5y ago
  That's interesting, can you expand?
- neolog 5y ago
  https://en.wikipedia.org/wiki/Wealth_tax#Past_repeals https://en.wikipedia.org/wiki/Wealth_tax#Past_repeals There are two studies cited. One on the repeals is by "Institut de l'Entreprise" which seems to be a wealthy people's think tank [1] and the other is about why the wealth tax wasn't introduced in the UK [2]. I'm not convinced by the evidence here. [1] https://fr.wikipedia.org/wiki/Institut_de_l%27Entreprise https://fr.wikipedia.org/wiki/Institut_de_l%27Entreprise [2] http://eprints.lse.ac.uk/42582/1/Why_was_a_wealth_tax_for_the_UK_abandoned_(lsero).pdf http://eprints.lse.ac.uk/42582/1/Why_was_a_wealth_tax_for_th...
- snovv_crash 5y ago
  And yet that haven for the rich, Switzerland, has a wealth tax. Explain please?
- Super_Jambo 5y ago
  America which claims global tax jurisdiction may have slightly different results.
- whakim 5y ago
  It's true that a number of European countries that previously had wealth taxes no longer do. However, European countries only collect taxes on residents. If you wanted to avoid wealth taxes you could simply move to another country (and the bar to doing so is very low in the EU...), whereas the IRS collects taxes on US citizens regardless of where they live. So the situations are not totally analogous and it's not clear that a wealth tax in the United States would also fail.
paul_f 5y ago
The "idea" of wealth tax is liked, the reality is that is has never been implemented successfully. Everywhere it has been tried, it has been rolled back.

ping_pong 5y ago

Wealth taxes don't work. It was tried in Europe in many countries and they ended up rolling them back.

teachingassist 5y ago
First, this is not true. I live in a country in Europe and I paid a wealth tax today, in fact. Second, please re-read my comment above as to why you might have understood that.
- ping_pong 5y ago
  Nothing you said contradicts what I said.
bernawil 5y ago
That's interesting, can you expand?
neolog 5y ago
https://en.wikipedia.org/wiki/Wealth_tax#Past_repeals https://en.wikipedia.org/wiki/Wealth_tax#Past_repeals There are two studies cited. One on the repeals is by "Institut de l'Entreprise" which seems to be a wealthy people's think tank [1] and the other is about why the wealth tax wasn't introduced in the UK [2]. I'm not convinced by the evidence here. [1] https://fr.wikipedia.org/wiki/Institut_de_l%27Entreprise https://fr.wikipedia.org/wiki/Institut_de_l%27Entreprise [2] http://eprints.lse.ac.uk/42582/1/Why_was_a_wealth_tax_for_the_UK_abandoned_(lsero).pdf http://eprints.lse.ac.uk/42582/1/Why_was_a_wealth_tax_for_th...
snovv_crash 5y ago
And yet that haven for the rich, Switzerland, has a wealth tax. Explain please?
Super_Jambo 5y ago
America which claims global tax jurisdiction may have slightly different results.
whakim 5y ago
It's true that a number of European countries that previously had wealth taxes no longer do. However, European countries only collect taxes on residents. If you wanted to avoid wealth taxes you could simply move to another country (and the bar to doing so is very low in the EU...), whereas the IRS collects taxes on US citizens regardless of where they live. So the situations are not totally analogous and it's not clear that a wealth tax in the United States would also fail.

paul_f 5y ago

The "idea" of wealth tax is liked, the reality is that is has never been implemented successfully. Everywhere it has been tried, it has been rolled back.