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The US doesn't have any sort of wealth tax that would impact one's savings, and even if it did I've only seen proposals that would impact particularly wealthy p
by Rebelgecko 4y ago
The US doesn't have any sort of wealth tax that would impact one's savings, and even if it did I've only seen proposals that would impact particularly wealthy people (like, net worth of $100m and beyond)
- native_samples 4y agoInflation is effectively a form of tax on savings.
- imtringued 4y agoCharged by commercial banks. Because they are the ones printing the debt contracts.
- akgoel 4y agoFor most families, the majority of their wealth is the equity in their house. In most states, we tax homeowners on the current unrealized value of their house, even if their mortgage makes them underwater. It is a de facto wealth tax. Here in Texas, we go further - all business are taxed on their non-financial assets , including inventory. This makes it so large farms and small factories are taxed on invested capital, and not just real estate.
- codefreeordie 4y agoNow I'm a bit offtopic, but, does TX tax all business property or just corporations' & LLCs' property? Is it a tax for having a business or a tax for the limited liability?