I still feel like the micro-tax[0] to replace every single form of tax would be better and simpler. Just 0.1% any and every single transaction is pretty simple to understand. Thus, the more money moves around, the more it will be taxed.
The example on the website was for Switzerland which does a lot of transfers due to their reliance thereon, but it wouldn't surprise me if it worked for America too. Wealthy Americans do invest in stock and move their money around way more than the average American.
Or, if wealthy Americans are such upstanding patriots, they'd be for a return to income taxes as in the 40s to 60s (80-95% for the highest tax bracket). [1][2] Then all of this "wealth tax" talk would be over.
And if people really wanted to have a more level playing field, they'd vote to get rid of inheritance altogether aka raise the inheritance tax to 100%. With the tax income from that, working out a scheme to create equal learning and living environments for kids nationwide could be discussed. Longer maternal and paternal leaves and monthly payments from the government for supporting children from birth until graduation wouldn't be farfetched.
The example on the website was for Switzerland which does a lot of transfers due to their reliance thereon, but it wouldn't surprise me if it worked for America too. Wealthy Americans do invest in stock and move their money around way more than the average American.
Or, if wealthy Americans are such upstanding patriots, they'd be for a return to income taxes as in the 40s to 60s (80-95% for the highest tax bracket). [1][2] Then all of this "wealth tax" talk would be over.
And if people really wanted to have a more level playing field, they'd vote to get rid of inheritance altogether aka raise the inheritance tax to 100%. With the tax income from that, working out a scheme to create equal learning and living environments for kids nationwide could be discussed. Longer maternal and paternal leaves and monthly payments from the government for supporting children from birth until graduation wouldn't be farfetched.
0: https://mikrosteuer.ch/en/the-initiative/concept/
1: https://talkmarkets.com/content/us-markets/tuesday-turmoil--...
2: https://www.irs.gov/statistics/soi-tax-stats-historical-tabl...