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I've never seen any wealth tax proposal that would raise any significant amount of money. That's ignoring the glaring issues of most wealth being illiquid, the

I've never seen any wealth tax proposal that would raise any significant amount of money. That's ignoring the glaring issues of most wealth being illiquid, the capital flight/brain drain that's happened every time it's been tried, and the complete lack of faith anyone has that these taxes would be put to any better use. Unused property and land is already taxed through property taxes. Regardless, unused property is an easy scapegoat but not a significant problem (similar to the foreign investor bogeyman) when the real problems are loose monetary policy, speculation, NIMBY zoning, and real supply/demand imbalances.

ChuckNorris89 3y ago
>the capital flight/brain drain that's happened every time it's been tried Where has this been tried and caused brain drain?
ericd 3y ago
Absolutely, the restrictions on dense housing development combined with the global hunt for yield caused by low/zero interest rates are the root cause for most of these issues. Policymakers were trying to keep the long term debt cycle alive a bit longer, but that's created its own massive issues.
UtopiaPunk 3y ago
The new capital gains tax in Washington state seems to be doing better than expected: https://crosscut.com/politics/2023/06/was-new-capital-gains-tax-brings-millions-more-expected https://crosscut.com/politics/2023/06/was-new-capital-gains-...