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> Being taxed on something illiquid that can’t generate cash flow is the pinnacle of dumb taxation My house isn't very liquid, can't generate revenue very effe
by TexanFeller 3y ago
> Being taxed on something illiquid that can’t generate cash flow is the pinnacle of dumb taxation
My house isn't very liquid, can't generate revenue very effectively, and I'm taxed every year on its current value. Guess us regular folks are already subject to a wealth tax.
- devoutsalsa 3y agoYou can rent out real estate. House hacking, Airbnb, boring rental, etc.
- peter422 3y agoAnd you can sell otherwise non-revenue generating assets if you need to. If you want to say it's difficult to tax illiquid assets, that's fine. But it's not impossible and while it would just change people's relationships to these types of assets (maybe in a good way for society), it's not going to be the end of the world.
- masfuerte 3y agoSure, and the rich person can charge people to look at their valuable artwork.
- Viliam1234 3y agoRich enough to have money that can be taken away, not rich enough to afford a specialist for tax evasion. People like this pay most of the tax. And yes, all the reasons why "taxing X would actually be harmful for the economy" somehow magically do not apply to the small fish.