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Yep, this is precisely why we need a wealth tax.
by cowvin 5y ago
Yep, this is precisely why we need a wealth tax.
- mgdev 5y agoI don't follow. Why? If there's no income earned, why should someone pay rent on deposits in a bank account?
- jl2718 5y agoWhy exactly do ‘we’ ‘need’ a wealth tax? Either you’re making several leaps of faith about how much good that money would do, or you just hate anybody that has something you don’t. But... I will admit that it could make more sense to pay the government for protection of property, than personal productivity.
- hallway_monitor 5y agoI don't need a wealth tax. I don't need the government to create and exact one. So, no, "We" don't need a wealth tax. It doesn't seem like an elegant solution. I do think the ultra-rich can pay slightly more taxes but IMO this is not the way to go about it; instead, close loopholes etc.
- duped 5y agoIt doesn't really seem like an elegant solution. Define wealth. We can't even appraise homes fairly, for middle class folks that can afford them. How are we going to evaluate the wealth of billionaires?
- jl2718 5y agoOkay, so… there is a way. You can value things by tax auction. - first every owner self-values their assets at $V and pays X% of $V - then an interested buyer bonds $W>$V earnest money - then the owner pays Y% of $(W-V) or the buyer gets it for $W plus tax of Z% Rates around 1% could replace all other taxes in this scheme. Do I think it’s a good idea? I don’t know. Recipe for bureaucrat moral hazard.