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Schemes like this tend to move assets to a better location and otherwise cause widespread restructuring to minimise the loss. Taxation is inherently complicated
by JonChesterfield 2y ago
Schemes like this tend to move assets to a better location and otherwise cause widespread restructuring to minimise the loss. Taxation is inherently complicated.
- guywithahat 2y agoNot only that, but it would incentivize people to not own assets. People would live paycheck to paycheck, they’d rent longer, and they’d waste money on lavish trips or food (at least until the next economic downturn when they get evicted and lose everything).