Re:Economic Inequality
by dpweb on Saturday January 02, 2016 @11:31PM
(#10829505)
* What if I own a house but have no cash? Will I have to sell it and live on the street to pay the taxman?
- You do that now. Property taxes.
* What if the ultra-wealthy buy property and then mark it down?
- People lie to the IRS now, system still functions.
* A 3% wealth tax is still less than the growth rate of many financial assets.
- Not necessarily. Safe stores of huge amounts of money yield very little. I don't know all the implications on interest rates, etc.. but it's an interestng idea.
* What if the ultra-wealthy buy property and then mark it down? - People lie to the IRS now, system still functions.
* A 3% wealth tax is still less than the growth rate of many financial assets. - Not necessarily. Safe stores of huge amounts of money yield very little. I don't know all the implications on interest rates, etc.. but it's an interestng idea.