▲ 458 ▼ Zohran Mamdani’s Proposal For A Millionaire Tax (www.fascinatingworld.org) submitted 8 months ago by Mog_Spawn@lemmy.world to c/politics@lemmy.world 56 comments fedilink hide all child comments
[–] ctrl_alt_esc@lemmy.ml 1 point 8 months ago (1 child) If it were 2% wealth tax, I'd agree with you. Like this it's worth nothing. It's incredibly easy for rich people to have an income of essentially 0. permalink fedilink source parent hideshow 2 child comments replies: [–] jj4211@lemmy.world 2 points 8 months ago It is easy for them to have 0 income, and we should fix that. The means by which they can access 'value' of their wealth to pay for stuff without actually incurring a taxable event need to get closed. Primarily this seems to be about borrowing against wealth, which should be a taxable event, with an option to eventually get credit for loan repayment to assuage the 'but but double taxation!' crowd. permalink fedilink source parent
[–] jj4211@lemmy.world 2 points 8 months ago It is easy for them to have 0 income, and we should fix that. The means by which they can access 'value' of their wealth to pay for stuff without actually incurring a taxable event need to get closed. Primarily this seems to be about borrowing against wealth, which should be a taxable event, with an option to eventually get credit for loan repayment to assuage the 'but but double taxation!' crowd. permalink fedilink source parent