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And taxing these assets doesn't hurt anyone and might make our public schools better, our seniors secure in their retirement, our roads and bridges safe for tra
by esarbe 5y ago
And taxing these assets doesn't hurt anyone and might make our public schools better, our seniors secure in their retirement, our roads and bridges safe for traffic, our mass transportation reliable and comfortable, our sick secure in the knowledge that a visit to the hospital doesn't force them into bankruptcy, improve our drinking water quality, ....
The list goes on and on. It might be 'zero-sum' (from very weird point of view - how do you balance the suffering of poor children? How does that balance?). But the "pain" of one billionaire losing a fraction of his wealth might well be worth the increases in living standards enjoyed by all the others.
It also make sense from a monetary point of view. Think about it; the taxman is where dollars go to die. Everywhere else they are just passed around and around. There's no 'consumer' of money - except for the government.
They need to increase the taxes, otherwise - especially in our low-interest-environment - all that money has no place to go to die and inflation will be the natural result. it would actually be prudent to increase taxes, so as to avoid a high inflation.