Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: Katelew who wrote (411092)	2/16/2011 9:20:24 AM
From: D. Long	Read Replies (1) \| Respond to of 793575

It would take a third party assessment of each person's 'wealth' Think property tax. France, for example, taxes wealth in excess of a self-reported net worth of 800,000 euros. en.wikipedia.org

To: Katelew who wrote (411092)	2/16/2011 12:29:38 PM
From: Elroy	1 Recommendation Read Replies (2) \| Respond to of 793575

How would that work? The mechanics of it. It would take a third party assessment of each person's 'wealthy', would it not? It's not that complicated (the wealth tax). France has one. The state takes (I think) 0.6% of what they got. How do you define what they got? Add up bank account, brokerage account, property, etc. Lots of French move to French speaking Switzerland because of it. Bill Gates used to own (before establishing his charity) $30b of MSFT stock. His income/salary was probably $500,000 per year from 1990 tp 2000 (I'm guessing), when his assets rose by billions every year. He didn't sell his stock, so no capital gains, so no tax. if you wanna get the rich, you gotta take their assets, not their income.