Re:IMF strongly suggests countries tax the rich to fix deficit
by judk on Sunday October 13, 2013 @10:47PM
(#6545131)
Your claim is that people would rather destroy their wealth in an asset crash, over giving a piece of it up?
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Re:IMF strongly suggests countries tax the rich to fix deficit
by Mikeb85 on Sunday October 13, 2013 @11:10PM
(#6545188)
No. But if everyone worth a billion had to liquidate even 5% of it, it would cause huge dip in the market, and in turn funds and retail investors would sell off shares, people would hoard cash overseas, and a crash would be the end result.
We saw in France a huge uproar over the threat of a 75% tax, thankfully the courts declared it illegal...