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> The purpose of a wealth tax is (mostly) not to raise revenue, it is to provide a downward pressure on the wealth of the wealthiest individuals. Sorry, what?
by yupper32 5y ago
> The purpose of a wealth tax is (mostly) not to raise revenue, it is to provide a downward pressure on the wealth of the wealthiest individuals.
Sorry, what? Taxes should always be about raising money for various projects that benefit the country. If we can't see eye-to-eye on that I don't think we'll find common ground here. I'm not looking to punish rich people for being too rich. I'm looking to fund public projects like healthcare, infrastructure, and education.
- ekelsen 5y agoIf we have different goals that are both achieved by the same means, I don't see the problem. I think raising money through the tax is important, but I think a more important long-term function of a wealth tax is to ensure that large fortunes eventually revert to the mean rather than sustaining in perpetuity for generations. (Unless they continue to be invested with above average returns for generations.) Also - there are many taxes that exist not for the purpose of raising revenue, but for the purpose of a policy goal. To deny this would be to deny how a great deal of how modern public policy works.