re: #269 jaunte

A “wealth tax” to fund domestic programs, what a radical idea that Democrats have never tried before, crazy stuff, wow. pic.twitter.com/c83x96sXcO

— Kevin M. Kruse (@KevinMKruse) February 20, 2020

My continuing objection to the annual wealth tax is its enforceability. We cannot even get the IRS to investigate income taxes of the wealthy on a thorough basis— if they did their job, Trump would probably have been in prison 30 years ago.

For a wealth tax, it’s not as though you can just look at the balance of a stock portfolio at the end of the year. You have to evaluate other assets: artwork? collectibles? real estate? privately held companies? cars? boats? planes? etc.

Far more practical:
1. Repeal the 2017 tax law in its entirety
2. Increase estate taxes by adding additional brackets
3. Eliminate the carried interest loophole
4. Add brackets to income taxes.