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Wealth taxes are unfair for the middle class they inevitably end up hitting. Multi billionaires being taxed on their wealth is not really unfair but they never

Wealth taxes are unfair for the middle class they inevitably end up hitting. Multi billionaires being taxed on their wealth is not really unfair but they never really end up paying those taxes as they have access to legal tax avoidance loopholes so it's always the well off middle class that ends up footing the tax bill. Wealth taxes should be dependent on what you do with your wealth. Is your wealth creating jobs, start-ups, education, research and innovation that benefit society and the environment? How about no wealth taxes for you. Is your wealth just sitting in hoarded land and real estate, looking to appreciate or for rent seeking opportunities? How about pay up or go fuck yourself.

TigerTeamX 4y ago
You open up a lot of conversations here not related to wealth tax. The question is, do you think it is okay for a government to say "hey, we changed our mind and the money you have that we already have taxed we want to tax again". Besides this, are you okay with keeping people in perpetual wage slavery and force people to work until death. The income tax in the US was introduced only for the rich and was only like 2%? But now the taxes is well above 50% for most Americans. It is always a slippery slope.
- rnk 4y ago
  This is no different than the property taxes ordinary home owners have to pay. People generally pay with money from their already taxed wages.
- the_gastropod 4y ago
  The federal income tax rate is nowhere near 50% for anyone, much less most Americans.
  - TigerTeamX 4y ago
    didn't say federal income tax. I said tax. Federal, state, municipality taxes. Now adding other things like rent tax etc.. Your steak is now 50% more expensive. If not more
    - TheCoelacanth 4y ago
      Still nowhere close to 50% for anyone.
- tr_user 4y ago
  what makes you think the money is already taxed? People are increasingly against inheritance taxes and the biggest predictor of whether someone is rich is whether their parents are rich
kevviiinn 4y ago
The idea that these incredibly wealthy people are using their money to create jobs is nonsense, they play games with borrowing against their assets they don't spend it. Once money is in the hands of someone like this it is effectively taken out of circulation damaging the economy as a whole
- TigerTeamX 4y ago
  They do play games borrowing against their assets. Why can they do this? Becomes the government have monopolized *the cost of capital* I completely agree this is bad. But giving the government more taxes will not make them suddenly change their mind about this.

TigerTeamX 4y ago

You open up a lot of conversations here not related to wealth tax. The question is, do you think it is okay for a government to say "hey, we changed our mind and the money you have that we already have taxed we want to tax again". Besides this, are you okay with keeping people in perpetual wage slavery and force people to work until death. The income tax in the US was introduced only for the rich and was only like 2%? But now the taxes is well above 50% for most Americans. It is always a slippery slope.

rnk 4y ago
This is no different than the property taxes ordinary home owners have to pay. People generally pay with money from their already taxed wages.
the_gastropod 4y ago
The federal income tax rate is nowhere near 50% for anyone, much less most Americans.
- TigerTeamX 4y ago
  didn't say federal income tax. I said tax. Federal, state, municipality taxes. Now adding other things like rent tax etc.. Your steak is now 50% more expensive. If not more
  - TheCoelacanth 4y ago
    Still nowhere close to 50% for anyone.
tr_user 4y ago
what makes you think the money is already taxed? People are increasingly against inheritance taxes and the biggest predictor of whether someone is rich is whether their parents are rich

kevviiinn 4y ago

The idea that these incredibly wealthy people are using their money to create jobs is nonsense, they play games with borrowing against their assets they don't spend it. Once money is in the hands of someone like this it is effectively taken out of circulation damaging the economy as a whole

TigerTeamX 4y ago
They do play games borrowing against their assets. Why can they do this? Becomes the government have monopolized *the cost of capital* I completely agree this is bad. But giving the government more taxes will not make them suddenly change their mind about this.