For some but for a lot it is not. Look at the children of the wealthy, they are born with expense accounts and trust funds that they did nothing to earn. A wealth tax would encourage them to do something creative instead of sitting on their asses or causing political havoc.
>>. 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.