Re:Majority of Americans favor wealth tax on very rich: poll
by munk-a on Friday January 10, 2020 @06:45PM
(#22016815)
Just a clarification
> the person's wealth would decrease to a minimum at some point.
under the Warren plan (which is pretty representative) that minimum is $50M which is still a ton of money... and taxes do decrease your held assets, sometimes this decrease may be visible on the property itself (property taxes preventing you from affording a reno you think is necessary) more likely it's visible in the form of your debt (being a bit slower to pay down a mortgage because of the loss of revenue to taxes).
So I think you may want to re-examine your statement about having just as much property as you started with, also it might help to examine the corollary related to a reduction to a minimum - that statement is technically correct, but I'd consider it meaningless at scale.
> the person's wealth would decrease to a minimum at some point.
under the Warren plan (which is pretty representative) that minimum is $50M which is still a ton of money... and taxes do decrease your held assets, sometimes this decrease may be visible on the property itself (property taxes preventing you from affording a reno you think is necessary) more likely it's visible in the form of your debt (being a bit slower to pay down a mortgage because of the loss of revenue to taxes).
So I think you may want to re-examine your statement about having just as much property as you started with, also it might help to examine the corollary related to a reduction to a minimum - that statement is technically correct, but I'd consider it meaningless at scale.