Re:California plan for wealth tax on anyone who spends 60 da...
by nullc on Saturday December 19, 2020 @02:17PM
(#25480261)
> When people are getting 5-6% returns on investments (minimum)
The 99th percentile wealth vs 99th percentile taxable income suggests that many very wealthy people are making lower returns in fact.
If people are generating those returns, however, there is no need for a wealth tax: the returns are already taxed (and could be taxed at a higher rate without a whole new invasive tax regime).
The 99th percentile wealth vs 99th percentile taxable income suggests that many very wealthy people are making lower returns in fact.
If people are generating those returns, however, there is no need for a wealth tax: the returns are already taxed (and could be taxed at a higher rate without a whole new invasive tax regime).