> Most people's income increases as their wealth increases. That's part of the problem.
But that's already solved by taxing income.
Re:Just Be Rich
by literallycancer on Tuesday April 13, 2021 @10:30AM
(#26792615)
Have you actually checked what's available in places like LA for $1m?
I hadn't, because the precise value doesn't matter, but from here it looks like that's above the median: https://www.zillow.com/los-angeles-ca/home-values/
(I was also assuming it would operate like income tax allowances, where you deduct the $1m first and then apply the percentage to the remainder; and we should also consider families, so you could co-own a $2m home without hitting that limit)
The question of which inflation measure the number should keep pace with might be more important in the long term...
Correct, that's the point.
> the more you save, the bigger your tax gets, while your income stays the same.
Only if you're a completely useless investor. Most people's income increases as their wealth increases. That's part of the problem. Especially the "r > g" question: are you growing the pie or simply sitting on a larger share?
On the other hand, this can and should be irrelevant to the average family. Start the wealth tax at $1m, say.