that's why its custom, can be low, just depends on overall assets and their money flows

how can you make America great again without transparency for the few who have figured out how to game the system for their own stockpiles of unnecessary wealth that would be much better in those working on infrastructure projects or normal ass jobs like most pple have

wouldnt work
the wealthy stay wealthy because they find the loopholes

but with simple laws and already existing nearly full monitoring it's already possible with proper data capture which I'm sure many nations already have. No loop holes, loop hole abusers go to prison or guillotine for money laundering

this whole concept that 99.9% of people can't figure out how to change justice systems to look at all 100% of people equally (justice is blind right! no money influence!) is fake news propaganda seeded in our brains so we feel incapable of overcoming the evil at the top. It is simply not true, we could change the justice system and treat everyone fair under the a much more simple and human law.

Your proposal is not very good and ignores the fact that vast majority of assets are varying in liquidity many of which are non-cash. Someone can have tens of millions in properties, but if those properties are not cash flowing they would not have any ability to meet taxes on their net assets. So then government would seize those assets for not payment or? Like consider an elderly retired couple that basically has two homes and the value of those homes went through the roof over the last 40 years. That doesn't necessarily mean they are able to afford a higher tax payment simply based on that asset value.

Valuation of some of these assets also can be costly and can be all over the place. Who incurs that appraisal cost?

There's a reason things are the way they are, some of these concepts were probably thoroughly discussed and people said no for a reason.

This post was edited by ofthevoid on Apr 28 2025 02:34pm

Seize assets and reimburse for their present cash value (less a hefty fine), if they have no money to pay taxes

It seems like common sense to me that if you're broke and can't pay your taxes, you're forced to sell stuff you own for the money - example: a person can't make rent, but they own a ton of collectibles worth alot of money. They have to sell those to make rent.

In your example it's blatantly obvious that the old couple needs to sell one of their properties, since they're broke.

This post was edited by El1te on Apr 28 2025 02:45pm

The taxes are applied on income though and government demanding a higher tax amount simply because you own property for example could actually cause you to be broke. If you are going to force people to pay higher taxes because they also have property for example above some threshold you're basically going to force a whole lot of people to force liquidate.

To me this would actually discourage saving and encourage consumption. The US compared to the rest of the world actually has the opposite issue. We need more savings and less consumption, and this disincentives that.

You obviously didn't look at the % of my proposed tax rates because any normal folks with a home or some rentals would have way less than 100M assets and therefore would pay less taxes than now, only 10% federal tax rate on income would be wonderful for those with most 2M+ asset owners, It would be super simple which would cost everyone less through efficiency. Not taxing their assets at 10%, taxing 10% income which is by far less than what most people in that category would pay. Maybe you could just ignore the 10% categorY and do this:

0M-10M assets:
no federal (and push states to be same)

10M-50M assets:
10% income

50M+ assets:
30% income tax


numbers would def need to be adjusted to pay for the spending with the basic principle of getting rid of income tax for working poor

This post was edited by chudman123 on Apr 28 2025 03:01pm

this would not be the goal or result if the numbers and application of the law were obvious.

Of course some people might gain an exception but most people with 5M+ assets are well organized with money. Maybe the threshold is 50M+ of suspected assets (since nowadays would be a proxy analysis of many different systems to get to a $ ammunt tied to your SSN

Wealth taxes have been proposed many times by progressives and never has anyone found a workable idea. They are double taxation upon the same value, they can't be calculated on nonliquid assets or have the government seize real estate and stocks, they discourage people from being productive and encourage welfare leeching, and the #1 issue is that if one country does a wealth tax all their wealthy people will get the fuck out before their assets can be seized and now you're losing their income taxes, spending and brain drain and the country poorer for it.