4 ms·

I'm fine with an 100% wealth tax for anything over 30 million applied at a federal level > What's going to happen is that people with that kind of wealth just

• refurb 4y ago
  But it won't be $30M for long. It's be $20M, then $10M, then $5M including your house. And wealth taxes have failed miserably everywhere they've been tried. France instituted one a few years back and it failed to capture even a small percentage of expected revenue - people just do whatever they can to avoid it, including leaving the country.
  • red-iron-pine 4y ago
    This is a lame slippery slope argument. $30MM dollars as net worth is well above the vast, vast majority of Californians, even those in STEM, acting, or other fields. Most of the fearmongering is also pretty lame, for the same reasons -- "soon it will be the 5-millionaires!" -- which is, again, far removed from the average Californian, even the average STEM worker in Cali outside of mid-to-high level FAANG types.
    • refurb 4y ago
      You realize some European countries have wealth taxes for everyone, right?