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In the discussion thread: It's the Wealth Gap, Stupid [View all]

Response to socialist_n_TN (Reply #2)

Mon Feb 13, 2012, 08:17 PM

5. yep.

We do have some forms of wealth tax, although not enough of course.

Some states and localities have property tax, which is sort of a wealth tax. Although property tax is actually a real estate + home-value tax, and in my opinion it sometimes hits too hard on people who have very small patches of land.

Another is the inheritance tax or estate tax, which the right-wing has notably smeared as the "death" tax.

A desire to pass inheritance on to one's children is understandable. But what we have now is a de facto aristocracy as extreme wealth is passed through multiple generations of the same family over the course of decades and even centuries.

Taxing net wealth, beyond just annual income, is a good socialist-type idea that progressive democrats will also hopefully be able to appreciate.

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