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by dpweb
3827 days ago
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* What if I own a house but have no cash? Will I have to sell it and live on the street to pay the taxman?
- You do that now. Property taxes. * What if the ultra-wealthy buy property and then mark it down?
- People lie to the IRS now, system still functions. * A 3% wealth tax is still less than the growth rate of many financial assets.
- Not necessarily. Safe stores of huge amounts of money yield very little. I don't know all the implications on interest rates, etc.. but it's an interestng idea. |
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