Treasury secretary came out against the proposed global levy, which proponents say would stop the rich from shifting wealth into countries where they can avoid paying the tax
Treasury secretary came out against the proposed global levy, which proponents say would stop the rich from shifting wealth into countries where they can avoid paying the tax
Wealth isn’t that hard to quantify. An assessor comes to my house every few years and quantifies what it’s worth for property tax reasons and most people’s wealth is basically their house and maybe a retirement account. Private companies almost all have a valuation. When a start up raises a round, they literally set a valuation for the round. When a traditional business gets a loan, the bank estimates what it’s worth.
But no one even wants to tax small business owners. Every wealth tax proposal is on the super wealthy who can sure as fuck value their net worth. Donald Trump just went on trial for lying about his. If we had a formal assessment system, he would have never even been able to do frauds.