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Pawnshops are collateralized loans for the poor. If the goal is to tax the rich, just be more direct and tax the rich. A wealth tax would work, no need for ela
by marcell 5y ago
Pawnshops are collateralized loans for the poor.
If the goal is to tax the rich, just be more direct and tax the rich. A wealth tax would work, no need for elaborate schemes.
- fastball 5y ago> Pawnshops are collateralized loans for the poor. Yes, that's why I said "thresholds". Not suggesting we tax small loans (or a small total value of loans taken out by an individual, regardless of the value of the individual loans). > wealth tax By many people's estimation, a wealth tax is an elaborate scheme, because is unrealized wealth really wealth? If Bezos has $100B in stock but a sale of all that stock would only fetch $60B, do we still tax on $100B? How can someone's wealth be realistically and equitably calculated if it is not realized? Putting fairness aside for a minute, you are probably severely underestimating the overhead / elaborateness of such calculations.