3 ms·
Another issue on my mind is that non-liquid assets are really hard to assess the value. Let’s say I had a complete set of Picasso’s paintings for a year. Every
by gjsman-1000 5y ago
Another issue on my mind is that non-liquid assets are really hard to assess the value.
Let’s say I had a complete set of Picasso’s paintings for a year. Every painting he did that year, I have.
Who is qualified to say how much each painting individually is worth (other than an auction), and who can say what the total set value is in comparison to the individual value?
Of course this proposal isn’t quite the Wealth Tax that Warren originally wanted but I could see even this tax not being enough in the future.
- Blackthorn 5y agoSeems like that would fall under the non-tradeable asset part, which is paid upon sale rather than mark-to-market.
- micromacrofoot 5y agoIn theory it could work the same way as land/building assessment for certain assets. Physical goods can be taxed on sale though, that's easy.
- naravara 5y ago> Another issue on my mind is that non-liquid assets are really hard to assess the value. If the assets in question are equities listed on a public market it's actually quite easy for the government to assess the value.
- knome 5y agoPerhaps when getting a loan against collateral, they could tax the value of the collateral. Make it so the loaner cannot receive more than they declare the collateral worth ( which should prevent overly low valuations by making them a risk to the loaner ), and require the loanee to pay taxes against the 'loan-value' of the collateralized resource. Treating the lien itself as something created by the loanee and sold to the loaner, I suppose.