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Politics : View from the Center and Left

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To: Sun Tzu who wrote (209616)	11/27/2012 2:24:42 PM
From: cosmicforce	Read Replies (1) of 543988

Yes - I tend to agree. This is why I raised the issue of a wealth tax. It too would promote a use it or lose it mentality and return a large pool of stagnant assets back into the economy. Hoarding wealth without penalty makes those who have it less likely to start new ventures to create more of it. Consider ownership of gold vs. wheat. Wheat has a shelf life and must be used or sold to avoid predation and rot. Gold sits there and while it can be stolen, if secreted produces nothing. I suppose someone could argue that wheat could be preserved or stored in such a way that it could last longer, but I don't think it would be possible to approach the stability of goal. There is an analog between other static versus dynamic assets. Dollar assets must be used to preserve their value due to inflation. If property were not to be taxed, I think a lot of real property would be held in reserve, unused. Since we have property taxes, which are a type of "wealth tax", the idea is not completely alien. The solution for a land owner is to rent it to keep the value of the property from vanishing, and by doing so, they put the asset to work to work against the taxation. . I also have issues with exemptions in general, but specifically for churches and charities - I believe this is a separation of church and state issue and it creates a system whereby the bureaucracy is put into a position of selecting what is a worthy with respect to taxation. Really, IMO, there is no difference between Scientology and other religions other than the length of time they have been around. Is is less charitable for a parent to pay for a mentally ill relative's apartment with ZERO admin costs than to give a donation to United Way which burns 90% of it fundraising? In both charity and churches, there are huge traditions and special interest that have to be over come. People hate deductions that are not the ones they take.

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