this post was submitted on 27 Apr 2024
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Political Memes

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[–] [email protected] 1 points 8 months ago (2 children)

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.

[–] [email protected] 4 points 8 months ago (1 children)

You make this all sound like a bad thing.

[–] [email protected] 1 points 7 months ago

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.

[–] [email protected] 8 points 8 months ago (1 children)

Who cares. Make them sell their toys or seize them, if they refuse.

[–] [email protected] 1 points 7 months ago (1 children)

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.

[–] [email protected] 1 points 7 months ago (1 children)

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.

[–] [email protected] 1 points 7 months ago

OK, so the headline figures need to be up rated to take into account the true amounts they'd need to pay.