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Politics : PRESIDENT GEORGE W. BUSH
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To: Steve Dietrich who wrote (542928)2/19/2004 8:53:12 PM
From: Peter O'Brien  Read Replies (1) of 769670
 
Steve, I can actually agree with you that a "wealth tax"
(instead of an income tax) has some merit to it.

One thing I find attractive about it is that it
doesn't heavily tax "high earners" who are STRIVING
to be wealthy, but aren't there yet.

There are some practical issues to consider, though.
If a wealthy person has a lot of illiquid assets,
would they be forced to liquidate them in order
to pay the annual "wealth tax"? There is also an
issue of how do you obtain a "fair market value"
for some illiquid assets.
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