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Is a wealth tax a good idea?

It seems that the rich are really good at avoiding these taxes. They shift their assets to asset classes that are not affected by this tax. Some leave the country. So, overall the tax costs more than it collects.
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Of course, some these people might break the law to avoid paying taxes. I'm not sure that it would be worth it to save just 2% on their tax bill, though. Let's say I have a net worth of $60M. Would it really be worth evading paying $20k on that extra ten million?
 
Craig234 said:
Calling your bull bull is constructive. You on the other hand have nothing constructive, just bull.
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Likewise. so we should cease wasting each others time.
 
Individual said:
If individual income needs to be taxed, it should only be done at the State and/or local level of government.
IMO, the 16th and 17th amendments should never have been passed, and the 16th amendment was easily passed ONLY because it applied to only about 3% of the population, about 3,000,000 persons at the time and the average income at the time was about $750 a year, and a tax of 1% was applied to income greater than $3,000 which would be around $78,000 in current dollars witha top marginal rate of 7%.
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Oh now I see. You are a tin foil hat guy. Income tax rates have always been based on what the taxpayer can afford to pay. That is exactly what you "history lesson" says.
 
iguanaman said:
Oh now I see. You are a tin foil hat guy. Income tax rates have always been based on what the taxpayer can afford to pay. That is exactly what you "history lesson" says.
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Since you obviously can't comprehend what I've been posting, I'll not waste our time further.
 
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