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Isn't the issue with property taxes that weath taxes are not legal under the constitution. The government is not allowed to just tax (ie, take) your assets. Inc
by 001sky 13y ago
Isn't the issue with property taxes that weath taxes are not legal under the constitution. The government is not allowed to just tax (ie, take) your assets. Income and Real estate are just imperfect proxies "wealth".
- deleted 13y ago[deleted]
- dragonwriter 13y ago> Isn't the issue with property taxes that weath taxes are not legal under the constitution. No, because that's not true (federal property taxes would probably be problematic under the Constitution, which restricts non-apportioned federal taxes, but property taxes aren't federal.)
- 001sky 13y agoProperty taxes are used (primarily) because states & localities don't have clean jurisdiction or nexus on a household's financial assets. (which makes "wealth" taxes problematic or impractical)