Wealth taxes are a symptom of a broken tax system. If you let someone get to hundreds of billions in net worth and then realize they haven’t been appropriately paying back into the system, it’s already too late. Like the article says they can simply say “no” in a variety of ways, from fighting in court to simply leaving.
If you let someone get to hundreds of billions in net worth and then realize they haven’t been appropriately paying back into the system, it’s already too late. Like the article says they can simply say “no” in a variety of ways, from fighting in court to simply leaving.
It's only too late if you're timid and wimpy.
And care about the rule of law. You cannot pass retroactive laws, you cannot pass laws that target individual people. If you pass a general law (which could very well have reasonable objections), people have to have a chance to leave.
"I'm passing this law that is effective the exact millisecond I sign it, tough shit if you don't like it" is tyranny and despotism. But based on your comment I think you know that.
What hyperbolic nonsense, just because something doesn't affect me doesn't mean it can't be bad policy. Wealth taxes are a fool's errand and serve only to damage and slow the economy.
binlog · · focus · HN ↗
palmotea · · focus · HN ↗
It's only too late if you're timid and wimpy.
pc86 · · focus · HN ↗
"I'm passing this law that is effective the exact millisecond I sign it, tough shit if you don't like it" is tyranny and despotism. But based on your comment I think you know that.
silver_silver · · focus · HN ↗
pc86 · · focus · HN ↗
8note · · focus · HN ↗
ultrawealthy people just cant spend as much or give useful market signals the way the masses can
its hyperbolic to say laws that are active when passed are despotism