

Basic income from a millionaire's perspective? - yesbabyyes
http://listcultures.org/pipermail/p2presearch_listcultures.org/2009-August/003949.html

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pragmatic
Wealth is notoriously hard to measure.

What is the absolute value of your house right now? The local gov't values
your home by a complex system that often does not reflect reality; it may be
several years out of date. (see current US home debacle)

How do you value a retail store? The value of the real estate, the building,
gross sales, etc, etc. Truth is until you find someone else to buy it, you
don't know what it is really worth (or what someone will pay for it).

Compare this to income. You know exactly what you make every
week/fortnight/month. It's easy to extract a percentage of this. There is
little ambiguity.

Hence, for the foreseeable future, a wealth tax just isn't practical. (Imagine
estimating the worth of your computer equipment, TV(s), jewelry etc...EVERY
YEAR).

