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this post was submitted on 24 Aug 2023
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You need to go back to school professor. All wealth tax proposals are progressive, only affecting those with substantial investments. I used to dislike them, but a tax starting at 1% on $50 million with the highest rate (say 3%) on net worth above $1 billion wouldn't hurt anyone.
Also, that tax can't be avoided either. Even if a billionaire moves to a tropical island with no taxes, their money is still invested in developed countries. It's too much to invest in tax havens. You just need good KYC to know who the ultimate owner is.
I don't understand why people have to insult to make a point.
I think eliminating tax loopholes, causing rich people to pay their fair share of taxes, is waaay better than an extra tax on incomes over a certain level. It's more fair and also doesn't hurt anyone. Tax avoidance is the reason a wealth tax is even an idea.
"eliminating tax loopholes"
Those words mean nothing without specifying which loopholes you mean. I'm not insulting you, I'm just saying that you are trying to sound smart while not contributing anything.
Is this a real sentence, typed seriously, with no irony? What a world.