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The government does kinda tax wealth, any time it creates currency ("printing money") beyond the (I'd guess very small) rate at which it vanishes, e.g. by bankn
by gjm11 13y ago
The government does kinda tax wealth, any time it creates currency ("printing money") beyond the (I'd guess very small) rate at which it vanishes, e.g. by banknotes getting shredded in the wash, weird computer errors, etc.
(Because when there's more money around, prices and wages go up, and currency-denominated assets like money in bank accounts become less valuable. It's not clear that this does much to the assets in which wealthier people are more invested -- stocks and real estate -- so I'm not arguing that it's a good way of taxing wealth.)