Why do wealth taxes keep failing?

4 pointsposted 4 hours ago
by vismit2000

1 Comments

K2h

4 hours ago

I like this part:

A good example is when Michael Jackson passed away. His estate told the IRS his name and likeness were worth $2,105. But the IRS said it’s worth $434 million. The Tax Court eventually settled on roughly $4.15 million. Now picture that argument repeating every single year for every wealthy person in the country.