Retarded left don't understand that billionaires don't actually have billions in cash, most of their wealth is in the assets. So what next? Seize the assets and give it to the poor? They wouldn't know what they do with them.
How would a wealth tax even work? If it was implemented on cash, people would spend money on assets immediately. If it was implemented on assets, you'd have to sell them to comply, and with no buyers, prices would crash. And then the state would have to lower the threshold for what gets wealth-taxed so that it amounts to a glorified property tax hike on the middle class.
Retarded left don't understand that billionaires don't actually have billions in cash, most of their wealth is in the assets. So what next? Seize the assets and give it to the poor? They wouldn't know what they do with them.
How would a wealth tax even work? If it was implemented on cash, people would spend money on assets immediately. If it was implemented on assets, you'd have to sell them to comply, and with no buyers, prices would crash. And then the state would have to lower the threshold for what gets wealth-taxed so that it amounts to a glorified property tax hike on the middle class.
you are more qualified to be a finance minister than Freeland
So is my dog.
Shhh, don't let Mckenna find out you have a dog.