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
This is to once again mistake net worth for money. Net worth is not real. It is not a good measure of the money someone may be able to realise. They do not have hundreds of billions. There is nothing to tax until they sell some shares.
It's strange that people always make this argument for wealth taxes, but you rarely hear it about property taxes. If "net worth is not real" neither is equity in real estate.
The only reason it works with real estate is because they can put a lien on the house and block the sale of it. They don't have any useful mechanism to stop the sale of a share of stock, but since the government is involved in the transfer (due to the registering of the new house deed) of a house, they can stop that one.
My comment provided a clear and succinct rebuttal to a flawed argument.
Your comment added literally no value, except to be a whiny prescriptivist and to establish that you think you're the center of the universe.
I have no respect for people who hold themselves to lower standards than they hold others. Your father failed at his most important job. He raised a pathetic fucking asshole.
binlog · · focus · HN ↗
philipallstar · · focus · HN ↗
This is to once again mistake net worth for money. Net worth is not real. It is not a good measure of the money someone may be able to realise. They do not have hundreds of billions. There is nothing to tax until they sell some shares.
slg · · focus · HN ↗
fhdkweig · · focus · HN ↗
porkshoe · · focus · HN ↗
dwedge · · focus · HN ↗
porkshoe · · focus · HN ↗
Your comment added literally no value, except to be a whiny prescriptivist and to establish that you think you're the center of the universe.
I have no respect for people who hold themselves to lower standards than they hold others. Your father failed at his most important job. He raised a pathetic fucking asshole.