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1. Wealth tax happens on assets > 100M 2. Wealth > 100M flees jurisdictions where it could be taxes 3. No receipts on wealth tax 4. Wealth tax boosters need som
by EPWN3D 2mo ago
1. Wealth tax happens on assets > 100M
2. Wealth > 100M flees jurisdictions where it could be taxes
3. No receipts on wealth tax
4. Wealth tax boosters need something to brag about, so they dial the limit down to 50M
5. Wealthy keep dodging
6. 50M becomes 25M, becomes 10M, becomes 1M
7. Definition of "wealth" is expanded to include things like home equity lines or credit, unexercised stock options, unvested RSUs
- clickety_clack 2mo agoExactly. I think income tax was 1% when they introduced it and it impacted the top 1% to 2% of earners. Now look how much they’re taking from the rest of us.