[oblomov]

If the “wealthiest Americans” can afford it, then why not tax wealth, instead of income?

[Paladin2]

""

Property taxes, but they are bad enough. No more wealth or income taxes. Consumption only (after grandfathering money that is already after taxes).

[Paladin2]

"why not tax wealth"

Property taxes, but they are bad enough.

No more wealth or income taxes. Consumption only (after grandfathering money that is already after taxes).

[Vigilanteman]

Proposing a wealth tax is a fine way to expose the multimillionaire hippies like Tom Sterner, George Soros and the politicians which they own for the hypocrites they are. You don't even need to enact it, just propose it.

BO was once quoted as saying that nobody should be allowed to save more than $3 million for retirement.

Fine, give everybody a $3 million exemption and tax personal wealth above that point. Of course, it is a stupid idea. Your most productive people would spirit most of their wealth out of the country, but it would be fun to make the Democrats be the ones to shoot the idea down since so many of them fit this category.

[arthurus]

A Wealth Tax is a medieval method to reduce the barons by cutting into their base, It is part and parcel with the heavy Death Duties imposed on them. It is a power tax, not designed for income to the Crown. In the medieval period it did produce income and wealth for the King. In the modern era it would likely be counterproductive in that respect though the power dimension would be enhanced.