Progressive Politics

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To Tax the Ultra-Rich, We Need to Go After Their Wealth—Not Just Income (inthesetimes.com)

submitted 10 hours ago by return2ozma@lemmy.world to c/progressivepolitics@lemmy.world

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[–] cadekat@pawb.social 7 points 8 hours ago (1 children)

I'm interested in the debate between wealth taxes versus closing other loopholes (like using untaxed assets as loan collateral).

What are the arguments for both sides?

[–] NotEasyBeingGreen@slrpnk.net 2 points 5 hours ago (1 children)

If you tax income then the ultra wealthy can find some financial construction to ensure that they have zero income. Of course, this is also true for wealth (see: the Gates Foundation), so maybe there is no good solution. 😅

[–] Akasazh@lemmy.world 3 points 4 hours ago

If magazines like Forbes can make up a system to measure the wealth of the richest, then there is a way to tax them.