Wouldnt it be easier just to tax all income above say $200,000 (minimum wage in SV) at 100%.
If a net worth of $2 mil is considered outrageous then surely that kind of salary would be considered equally so.
If a net worth of $2 mil is considered outrageous then surely that kind of salary would be considered equally so.
There should be no wealth tax, but above a certain threshold - there should be a maintenance fee associated with the wealth. I get charged maintenance fee by my mutual funds, for example.
One of the purposes of the government is to protect and secure property... and that is what ultra wealthy are getting for a fraction of what they should be paying.
That rate will not be where you and I live. It will be some tiny foreign government.
And when some of those people say no? That seems like either a short lived con or very quickly we are bombing people.
Why not just literally put a gun to someones head and rob them then? Skip the middlemen. Bombs are expensive as is jet fuel.
There is a lot of low hanging fruit.
Arguably capital gains should be taxed at a higher rate than income. But that's not going to happen, because your home's change in value is capital gains.