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[–] 25 points 2 years ago (3 children)

Wealth Tax. That is what we desperately need.

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  • [–] 4 points 2 years ago (2 children)

    Maybe so, but Biden was just talking about the income tax rate.

    The problem with a wealth tax is that it seems like it would be hard to do. If I buy a painting for $1M, do I get taxed on that amount regardless of its value even if it's worth ten times that? Do I have to get it appraised? If so, just once or every year because the value can fluctuate? If I buy a rare classic car that's rusted out, and I restore it, how is the value calculated? Now imagine I have a giant art collection and a giant car collection. It just doesn't seem workable.

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