Re:Ask HN: Would you make every country have a wealth tax li...
by d--b on Wednesday January 15, 2025 @08:33AM
(#42710549)
People who say it's not possible are idiots.
Wealth is currently taxed at death, so it's totally doable while people are living. Plus, regulations are fairly heavy in terms of disclosing one's wealth, so it shouldn't be that difficult.
Sure some people will hide some wealth, but it's illegal, and the IRS is not really soft on tax evasion. "legal" evasion through offshoring and stuff is a problem but it's a problem for all taxes, not particularly wealth tax.
Plenty of countries have implemented a wealth tax.
In France, the current version only applies to real estate as a way to reduce real estate speculation and value storage and instead encourage investing in stocks and bonds.
Wealth is currently taxed at death, so it's totally doable while people are living. Plus, regulations are fairly heavy in terms of disclosing one's wealth, so it shouldn't be that difficult.
Sure some people will hide some wealth, but it's illegal, and the IRS is not really soft on tax evasion. "legal" evasion through offshoring and stuff is a problem but it's a problem for all taxes, not particularly wealth tax.
Plenty of countries have implemented a wealth tax.
In France, the current version only applies to real estate as a way to reduce real estate speculation and value storage and instead encourage investing in stocks and bonds.
It's not stupid.