Delete comment from: Ken Shirriff's blog
problem with a wealth tax is that it makes tax revenue dependant on the state of the economy. That's why california has funding problems every couple years, a lot of their taxes are on the ultrawealthy and on companies, and they ta x like it's an economically good year, so when it isn't, they run out of money. Obviously it would work fine if you could keep some money from the good years to help out on the bad years, but politicians don't think long term like that.
Oct 31, 2024, 8:37:23 AM
Posted to Wealth distribution in the United States