this post was submitted on 26 Feb 2024
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To be fair, there are a number of countries that already have a wealth tax. So it wouldn't be some insurmountable concept.
There are less and less of them because taxing wealth doesn't work.
That's a theory I suppose. Another theory might be the wealthy influencing policies to have the tax removed. No idea if either are true.
Wealth that's just sitting there is hard to assess and therefore easy to game. What's the value of a piece of art? It's far more practical to tax transactions and realized gains, when money changes hands.