Dimishing returns tax calculated on personal worth, not including liabilities.
The more you make/have the more you pay.
Doesn’t matter if you have it sitting in investments, antiques or income, it all gets taxed the same. Can’t hide it by subtracting liabilities, because those are your own responsibilities, not the governments.
This will shift the burden to the upper class and remove the burden from the lower class, it will also help the middle class by not being stuck in the middle and being able to be judged on levels and on a scale.
Apply the same to companies, it will actually encourage mega-corps to split into smaller companies.
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Dimishing returns tax calculated on personal worth, not including liabilities.
The more you make/have the more you pay.
Doesn’t matter if you have it sitting in investments, antiques or income, it all gets taxed the same. Can’t hide it by subtracting liabilities, because those are your own responsibilities, not the governments.
This will shift the burden to the upper class and remove the burden from the lower class, it will also help the middle class by not being stuck in the middle and being able to be judged on levels and on a scale.
Apply the same to companies, it will actually encourage mega-corps to split into smaller companies.
Would that not also encourage people/companies to pay down as much debt as possible? I’m sure that would help level out the playing field a bit too.