hm this SEEMS correct but I'm not totally sure it depends on some things would held cash still be taxed? if so probably not quite so much change HOWEVER,https://twitter.com/asglidden/status/1184730466563149831 …
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my hunch is that it would be possible for the wealthy to handle this elegantly eg: assets moved to trusts that pay out to them/descendents eg: assets distributed to descendents or trusts for these descendents well be death eg: "loans" to firms over time, firms invest
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in any case the actual collection on this tax would probably be negligible, is my guess but it doesnt matter because no way in hell it passes
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eigenrobot Retweeted Andrew "The Kid" Glidden
think this checks out thohttps://twitter.com/asglidden/status/1190370677049544704?s=19 …
eigenrobot added,
Andrew "The Kid" Glidden @asgliddenThinking about this a bit more...a wealth tax would probably obliterate State and municipal finances. It would require that bonds' interest rates increase just to keep ROI at zero, and that means investors would pull out. Recipe for public bankruptcy. https://twitter.com/asglidden/status/1184730466563149831 …Show this thread1 reply 0 retweets 5 likesShow this thread -
new idea tax on human capital on one hand this is a terrible idea on the other hand it might destroy universities for good
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and not if you arent working
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