Re:Modeling a Wealth Tax
by bhupy on Tuesday August 18, 2020 @10:27PM
(#24206575)
> there is no inherent right to be very high net worth
But there is an inherent right to the ownership of property (enshrined in the US Constitution).
A Federal wealth tax is currently unconstitutional for the same reason that you don’t have Federal property taxes: the Constitution explicitly prohibits the Federal government from levying direct taxes except for income (via the 16th Amendment). Wealth is not income.
But there is an inherent right to the ownership of property (enshrined in the US Constitution).
A Federal wealth tax is currently unconstitutional for the same reason that you don’t have Federal property taxes: the Constitution explicitly prohibits the Federal government from levying direct taxes except for income (via the 16th Amendment). Wealth is not income.