alt Hacker NewsWhen more assets are sold than are bought, that leads to the destruction of assets on a broad scale. It's the economic equivalent of eating one's seed corn. This would not be good for the median person. You can and should tax land (meaning the land value component of real estate in general) and natural resources more generally, but that's an entirely different game: it has next to nothing to do with wealth taxes as generally understood.
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wyre • today at 6:48 PM
> When more assets are sold than are bought
How does this make sense? If Johnny sells 5 cars, that means 5 cars were bought. How can Johnny sell more cars than are being bought? Do you mean that Johnny has more cars to sell than are being bought?
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This claim is plain malicious. Of course falling asset prices would be excellent for the median person, since they would be less extremely priced out of everywhere. This is one of the central benefits of a wealth tax.