We have a wealth tax on the middle class and upper middle class known as 'property taxes' and it has not been repealed. It's weird that taxing the politically connected super-wealthy has so many implementation issues.https://twitter.com/AndrewYang/status/1177907899105984514 …
I think it’s an administratively harder kind of tax to dodge than others. Not impossible but harder. At least these dodges are more visible.
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Like we can look up any parcel and see its assessment. You can’t check people’s income or wealth (unless you’re Finland where people’s personal taxes are a matter of public record).
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Isn't it ultimately a statement of values? If you believe that someone with over 50M should pay more and you make it the rule, it clearly communicates what kind of accumulation you find acceptable. It is ultimately super sad to move to a different country purely for tax reasons
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Make it a felony to negligently under-report assets on a tax return.
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