>>. A wealth tax would encourage them to do something creative instead of sitting on their asses or causing political havoc.<<
What children do with their inheritance is NOYDB nor the government’s. You make massive assumptions on what the children of the wealthy do based on a few isolated cases.
I went to a school with VERY RICH kids and your stereotype doesn’t match up with reality.
Taxing wealth means you tax productivity, period. At least a labor tax, once levied, is done. A wealth tax levies over and over and over and over.
The other examples in this thread are also based on stereotypes. I have well in excess of 7 figures and that is through thrift and toil. It is not for you nor anyone else to lay claim to that just because I did not spend it — which is what this plan would force people to do.
This is a BAD idea and the whole thread should be locked or wiped out.
Taxing income means you tax productivity. Fixed it for you.
“Taxing wealth means you tax productivity, period. At least a labor tax, once levied, is done. A wealth tax levies over and over and over and over.”
No red state seems to have any problem taxing property (and its owners) to pay for leftist indoctrination of minors in what are called schools.
“I have well in excess of 7 figures and that is through thrift and toil. It is not for you nor anyone else to lay claim to that just because I did not spend it — which is what this plan would force people to do.”
Most pots with 7 figures have gotten augmented by government overspending.
Feel free to tell me how your pot is different.