
Why a “Billionaire” Wealth Tax Would Hurt the Working Poor and the Middle Class - andrenth
https://fee.org/articles/why-a-billionaire-wealth-tax-would-hurt-the-working-poor-and-the-middle-class/
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pseingatl
The regulations implementing such a law will see to it that the tax kicks in
for anyone earning over $100,000, with billionaires just being at the top of
the scale. In other words, it won't start at $100 million. That's how tax regs
in the US always go.

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rogerkirkness
Don't tax good things, tax bad things. Price in externalities. Seeing success
as a more harmful externality than climate change is hard to understand. We
should focus on taxing carbon way more and less on jealous mimetic rage.

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blisterpeanuts
If Sen. Sanders succeeds in enacting such a tax, the target population would
move much of their wealth offshore. Stock-wealthy entrepreneurs such as Bezos
would probably relocate company headquarters to safer countries. Wealth is a
fluid thing. Probably better results could be achieved by cutting wasteful
government spending, freeing billions of dollars for other purposes.

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Uhuhreally
"Wealth is a fluid thing" is quite a euphemism for "tax evasion"

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blisterpeanuts
Call it what you want. People will find a way to hold onto their money.

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iron0013
If it’s money that should have been paid as tax, it’s not their money. It’s
stolen.

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blisterpeanuts
Lol, some would argue that taxation is a form of theft.

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iron0013
I mean, sure, they can argue that, but legally they’re wrong. Legally, tax
evasion is a crime, and the money they’ve stolen by not paying their taxes
isn’t their money.

