points by rich_sasha 1 day ago | 0 comments
A nice idea I heard is to introduce a minimum tax rate based on wealth. Let’s say the magic number is 0.5%. Then you say, every individual (over some threshold etc) needs to pay max(normal tax calculation, 0.5% of wealth) .
What I like about it is that it doesn’t penalize people who already pay taxes. It’s a lower bound, not an extra.
What makes me weary about any such tax is that in practice, it seems to target the broad middle class - people who have enough assets to be interesting to the tax man, but who don’t have enough to hide it or avoid taxes.
[–] teroshan 1 day ago
[–] rich_sasha 1 day ago
Yes that’s what I was referring to (I couldn’t remember his name).
Still my concern would be that the other Zuck would show he has no income and no assets, while a doctor or coder would end up paying extra tax on their retirement savings.
If you're talking about the "Zucman tax" it explicitely targets the ultra-high-net-worth individuals because that's the population that manages to avoid income tax and thus pay a lower effective tax rate than the rest of the population.
source: https://gabriel-zucman.eu/files/report-g20.pdf