• pingveno@lemmy.ml
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    5 months ago

    Okay, and how is that a rebuttal? Wealth taxes cost a large amount to administer and don’t provide much revenue. Any tax should be weighed against its side effects. If a type of tax has a history of being mainly performative with little revenue, what’s the case for swallowing the side effects?

    Again, it’s much easier to tax wealth as it moves because typically that movement involves putting a value on it. Estate taxes also require appraising the value of assets, but they are literally once in a lifetime.