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> The ultra wealthy will find the ways to avoid them That is only because the system (at least in the US) is designed specifically to enable this. Tax code is
by jjav 3mo ago
> The ultra wealthy will find the ways to avoid them
That is only because the system (at least in the US) is designed specifically to enable this. Tax code is mind boggingly complex because there are a million loopholes and special cases, so that if you can afford the top-tier accountants, you won't ever pay any taxes.
But there is nothing inherently necessary about this. We can know the net worth of people and tax them if the government just cared to do so.
- clickety_clack 3mo agoThe wealth of the ultra rich isn’t sitting in a checking account or a Robinhood trading account. There’s a lot of it in stuff that’s lying around and most likely it’s not even all in the country. Wealth isn’t sitting in a global database that can be queried.
- jjav 2mo ago> Wealth isn’t sitting in a global database that can be queried. Palantir (and every government intelligence agency) has that global database and can query it at will.