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Wealth tax is good. Would be much more effective than the super-high top-bracket income tax thing, and would also get much more directly at what people care about.
Why wealth tax is better than super-high-bracket income tax:
1. It is much more broad-based, so will raise more revenue
2. It taxes past accumulated wealth instead of only future wealth
3. It targets the idle rich, whereas the income tax thing targets entrepreneurs
1. It is much more broad-based, so will raise more revenue
2. It taxes past accumulated wealth instead of only future wealth
3. It targets the idle rich, whereas the income tax thing targets entrepreneurs
Of course, the best wealth tax is a true inheritance tax (rather than the estate tax we have now): bloomberg.com/opinion/articl…
Remember, wealth taxes might actually improve productivity, by taking money out of the hands of idle rich people who invest their money badly: cemfi.es/ftp/pdf/papers…
