1) I think there are compelling arguments in favor of a more consistently/quickly realized and/or higher tax on the highest earning individuals. I don't think that a tax on unrealized gains alone is the right approach because it would force selling of equity, but:
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2) I think there are a number of potential options that could accomplish the goal without nearly as many side effects. I think that a consumption tax on the wealthy or a way to pay a one-time unrealized gain tax in equity could make sense, and tax borrowing-->consumption.
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If you donate me few millions, I can use that to buy your coins and in turns making you more richer..
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Until such a time as when taxes can be verifiably allocated to what the tax-payers deem necessary they will remain, in my humble opinion, completely unconstitutional and a total disregard of the individual’s financial agency
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Will be hard to have a democratic society like that till we remove money from politics. For the time being the tax code is written for the wealthiest by the wealthiest.
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progressive consumption tax that starts at like $5m a year might be the way to go
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Elon receives no salary. How do you define earning 5mill a year
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you are absolutely right. This mistake of capitalism causes income inequality in many countries. The money is waiting in the vaults of stupid banks instead of being dispersed in the market. Being rich should be made harder.---->
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