Comment by pessimizer
4 hours ago
> 20% tax on wealth
Thank god no one is talking about this, then. According to Graham, a 20% wealth tax is equivalent to a 400% income tax.
4 hours ago
> 20% tax on wealth
Thank god no one is talking about this, then. According to Graham, a 20% wealth tax is equivalent to a 400% income tax.
Read my comment - it likely would be equivalently impossible. That is my point.
Read my comment - it is completely irrelevant to the discussion being had about the linked article, and no one on the planet is suggesting a 20% wealth tax. That is my point.
The argument was that it was ludicrous to say a wealth tax of x percent > income tax of x percent in actual impact, yes?
It is clearly the case if you try to apply the income tax rate as a wealth tax using concrete real world examples.
Even a 3% property tax makes it very difficult for many normal people to own those assets in many real world economic circumstances.
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