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Taxing wealth is even more blatant robbery than income taxes. "Give me the amount of your money that I want or go to jail."
by tastyfreeze 4y ago
Taxing wealth is even more blatant robbery than income taxes. "Give me the amount of your money that I want or go to jail."
- lotsofpulp 4y agoSo get rid of property taxes? Everyone who inherited land or valuable IP just gets to be lucky and sit on it?
- tastyfreeze 4y agoMost wealth tax proposals are to take a percentage of a person's accumulated wealth annually. A property tax isn't what people are talking about for a wealth tax. I do believe that you should be able to keep accumulated wealth. We are all equals under the law. Once there is a wealth tax the definition of wealthy will be continually decreased so the government can take more. The government has an insatiable appetite for spending other people's money. It will always demand more.
- disgruntledphd2 4y agoProperty/land taxes are the best form of wealth tax, as its difficult to shift your land to another jurisdiction.
- tastyfreeze 4y agoAnd those already exist. Which is why wealth tax proposals don't include property taxes.
- disgruntledphd2 4y agoIn some places, yes. In other places they don't (or are incredibly small). More generally, if you're going to tax wealth property is the place to start.
- tastyfreeze 4y agoLike I said, that isn't what is bandied about as a wealth tax. Elizabeth Warren proposes a 2% annual tax for net worth over $50 million and 6% for over $1 billion. It is literally taking a percentage of what they own every year. Don't forget, they would still pay taxes when selling assets. https://elizabethwarren.com/plans/ultra-millionaire-tax https://elizabethwarren.com/plans/ultra-millionaire-tax