Comment by lazide
3 hours ago
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.
I don't think that those issues would be too difficult to fix.
The tax could be made progressive so that it doesn't impact people who can't afford it.
Someone's primary home and vehicle could be omitted from the tax.