It’s been proven time My Favorite Driver Is The One Who Wrecks Kyle Busch Shirt and time again that wealth taxes don’t work once implemented. Yes, you can yell at me a lot but just read into the US tax laws and history and you will realize it won’t work. To be clear I don’t care if it’s right or not, but I’m saying it won’t work. Let’s say you inherit a home and all you do with it is life there. Welp, that’s part of your wealth, time to pay up the tax on your wealth! Let’s say you inherit a home and all you do with it is life there.
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Welp, that’s part of your My Favorite Driver Is The One Who Wrecks Kyle Busch Shirt wealth, time to pay up the tax on your wealth! If I knit a stuffed animal for my sister, and someone is willing to pay me 4 Million dollars for it. Do I suddenly owe tax on 4 Million dollars of wealth? Even if I only have 10 bucks in my bank account? So in your example, if you knit a stuffed animal for your sister and someone is willing to pay you 4 million dollars for it, you don’t suddenly owe taxes on 4 million dollars of wealth, even if you only have 10 bucks in your bank account.
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