Comment by ponector
15 days ago
You can tax wealth, assets and paper wealth as well. Some countries like Switzerland does it. Annual tax is 0.05-0.3% and that what should billionaires pay to the society.
15 days ago
You can tax wealth, assets and paper wealth as well. Some countries like Switzerland does it. Annual tax is 0.05-0.3% and that what should billionaires pay to the society.
You can and Pollock paintings will go for 80 mil instead of 110 and luxury assets will drop in price but will still be owned by same people. Switzerland is tiny so not very constrained. There is some elasticity for converting paper wealth into physical things but it is miniscule. I think COVID should've being a pretty strong lesson there.