That’s the thing about wealth taxes. People argue that they’re unworkable. The truth is that we already have wealth taxes. We just have the most useless style of wealth tax.
Instead of the ultra-wealthy paying the highest percentage in taxes, every home owner pays a similar rate. But, that means that the people who have most of their wealth tied up in their homes pay the highest effective rate. Even if it might be hard to come up with a perfect wealth tax, it would be extremely easy to come up with one that’s more progressive than property taxes.
That’s the thing about wealth taxes. People argue that they’re unworkable. The truth is that we already have wealth taxes. We just have the most useless style of wealth tax.
Instead of the ultra-wealthy paying the highest percentage in taxes, every home owner pays a similar rate. But, that means that the people who have most of their wealth tied up in their homes pay the highest effective rate. Even if it might be hard to come up with a perfect wealth tax, it would be extremely easy to come up with one that’s more progressive than property taxes.