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Comment by ChuckNorris89 | Hacker News Reader

Wealth taxes are unfair for the middle class they inevitably end up hitting. Multi billionaires being taxed on their wealth is not really unfair but they never really end up paying those taxes as they have access to legal tax avoidance loopholes so it's always the well off middle class that ends up footing the tax bill.

Wealth taxes should be dependent on what you do with your wealth. Is your wealth creating jobs, start-ups, education, research and innovation that benefit society and the environment? How about no wealth taxes for you. Is your wealth just sitting in hoarded land and real estate, looking to appreciate or for rent seeking opportunities? How about pay up or go fuck yourself.

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You open up a lot of conversations here not related to wealth tax. The question is, do you think it is okay for a government to say "hey, we changed our mind and the money you have that we already have taxed we want to tax again". Besides this, are you okay with keeping people in perpetual wage slavery and force people to work until death. The income tax in the US was introduced only for the rich and was only like 2%? But now the taxes is well above 50% for most Americans. It is always a slippery slope.

The federal income tax rate is nowhere near 50% for anyone, much less most Americans.

didn't say federal income tax. I said tax. Federal, state, municipality taxes. Now adding other things like rent tax etc.. Your steak is now 50% more expensive. If not more

Still nowhere close to 50% for anyone.

what makes you think the money is already taxed? People are increasingly against inheritance taxes and the biggest predictor of whether someone is rich is whether their parents are rich

This is no different than the property taxes ordinary home owners have to pay. People generally pay with money from their already taxed wages.

The idea that these incredibly wealthy people are using their money to create jobs is nonsense, they play games with borrowing against their assets they don't spend it. Once money is in the hands of someone like this it is effectively taken out of circulation damaging the economy as a whole

They do play games borrowing against their assets. Why can they do this? Becomes the government have monopolized *the cost of capital* I completely agree this is bad. But giving the government more taxes will not make them suddenly change their mind about this.

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