this post was submitted on 27 Apr 2024
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While I agree with the sentiment it's worth noting that this wealth isn't usually liquid. It's tied up in other assets. Like shares in companies. Liquidating those shares to pay a wealth tax will also dilute their influence in those companies. Not to mention liquidation comes with additional taxes.
You make this all sound like a bad thing.
Not bad, I'm just identifying knock-on effects that mean the people mentioned would pay substially more than the headline figure in the image.
Who cares. Make them sell their toys or seize them, if they refuse.
I wonder how having assets seized would affect their tax return. It could be that it would be beneficial for them to put up a fight and get the assets seized instead of liquidating them and then being subject to a huge tax bill.
The asset's worth should be at least the value owed in taxes + 10% liquidation fee to nip shit like that in the bud. No more loopholes, no more leeway.
OK, so the headline figures need to be up rated to take into account the true amounts they'd need to pay.