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And those already exist. Which is why wealth tax proposals don't include property taxes.
by tastyfreeze 4y ago
And 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