Which taxes should be taken to make a functional tax on wealth?
4mon 23d ago by fedia.io/u/atro_city in twnw@fedia.io
A wealth tax is not a silver bullet. If for example is no exit tax, simply transferring wealth out of the country could allow billionaires to leave. What other things would have to be done work in conjunction with a wealth tax in order for it to have the desired effect of transferring wealth from the 0.1% to the rest of the population?
Make all wealth over 1000x the median household income taxable at 100%. Make it a felony with a mandatory 20 year prison sentence to have a net worth over 3000x the median household income.
This isn't about raising revenue. This is about making billionaires cease to exist.