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A comment on Media Owned by Wealthy Are Quick to Tell You Wealth Taxes Are a Bad Idea. Parent comment

Re:Media Owned by Wealthy Are Quick to Tell You Wealth Taxes... by nickpp on Thursday October 22, 2020 @03:01PM (#24861963)
You need to track every single taxpayer continuously just to know if that cutoff was reached.
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Re:Media Owned by Wealthy Are Quick to Tell You Wealth Taxes... by adverbly on Thursday October 22, 2020 @03:45PM (#24862530)
lol ya tracking everyone would be really dumb but you don't need to do it.

Many countries already have self reported high value assets as part of their tax filing process. Pretty easy to add a self-reporting step "Do you have over $25M in assets"? Most people can confidently leave that unchecked so they don't even need to waste any ink. Lying would be tax fraud and is already possible in the current system anyways.

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