alt Hacker NewsA flat tax on wealth would be extremely easy to enforce. Basically if the bill for an asset doesn't get paid it goes to the government, and the bill is trivial to calculate because it doesn't need the rest of the entity.
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bluecalm • last Monday at 1:37 PM
If you apply automatic tax on bonds people will just not buy them unless you also increase their returns. It's a pointless exercise. Same goes for stocks, it's just a bit bigger circle in this case. Capital gain tax is just a bad tax that distorts decisions and make things less efficient for no reason. It's much better to tax resources (mainly land but also infrastructure usage) and charge for enforcement of IP/patents.
> A flat tax on wealth would be extremely easy to enforce.
The real problem has always been measuring "current wealth" with accuracy, fairness, and not spending more than you collect on an army of auditors.
I don't see how "flat" makes anything easier, since it's a downstream calculation.