We used to have punishing wealth taxes, but they've been eroded by lobbying and regulatory capture.
The best time for a wealth tax was 40+ years ago, the next best time is 39 years ago. The horse has left the barn people... Billionaires aren't willingly going to give up their fortunes.
4 Comments
AnotherDirtyAnglo@lemmy.ca · 8 pts · 2y
We used to have punishing wealth taxes, but they've been eroded by lobbying and regulatory capture.
The best time for a wealth tax was 40+ years ago, the next best time is 39 years ago. The horse has left the barn people... Billionaires aren't willingly going to give up their fortunes.
corsicanguppy@lemmy.ca · 1 pts · 2y
You're right. So why try, right? Let's just lie down and see if we can hold our breath until die.
Or we try. Whichever.
m0darn@lemmy.ca · 8 pts · 2y
Cap life time capital gains tax exemptions to $1M. Including principal residence.
Like they're can be a transition plan to avoid huge market shocks but if your housing is an investment it shouldn't be tax free.
undercrust@lemmy.ca · 3 pts · 2y
Archived article: https://archive.is/y2MXu