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wealth tax, it’s literally in the name… maybe they should call it “absurdly rich person tax”… are you absurdly rich? if you aren’t… don’t worry about it, and if
by micromacrofoot 5y ago
wealth tax, it’s literally in the name… maybe they should call it “absurdly rich person tax”… are you absurdly rich? if you aren’t… don’t worry about it, and if you are… pay more taxes and continue being richer than 99.9% of the planet
- yibg 5y agoSerious question, would that be realized wealth or on paper wealth? If some startup founders equity is worth a billion but isn’t liquid, do we tax that too?
- micromacrofoot 5y agoneeds to be both to avoid the hoarding issues we have today, x% of assets should be liquidated for tax annually (assuming its value is over some high threshold) obviously this would be difficult and would require new rules, but it doesn’t seem at all impossible
- ipaddr 5y agoWhat would be the wealth level you would start taxing at. How would you go about determining everyone's wealth?
- micromacrofoot 5y agosame way people determine their own wealth, it doesn’t seem too outrageously complex you could start high (say 1000x the federal poverty line) and work backwards there are already a number of proposals from lawmakers that cover the details better than some rando on the internet