(12-21-2024, 09:27 AM)The Real Marty Wrote:

(12-20-2024, 03:41 PM)TDOSS Wrote: No, it doesn't. Ask Norway, Spain, France, Italy, and other countries with wealth taxes.

Why Europe Axed Its Wealth Taxes | Cato Institute

More than a dozen European countries used to have wealth taxes, but nearly all of these countries repealed them, including Austria, Denmark, Finland, France, Germany, Iceland, Ireland, Italy, the Netherlands, Luxembourg, and Sweden. Wealth taxes survive only in Norway, Spain, and Switzerland.

Yet for little revenue, wealth taxes are difficult to administer and enforce. They may require taxpayers to report the values of financial securities, homes, furniture, artwork, jewelry, antiques, vehicles, boats, pension rights, family businesses, farm assets, land, intellectual property, and much else. But owners do not know the market values of many assets, and values change over time, so costly wealth-tax compliance would only make accountants wealthy.

You claimed wealth taxes cannot be implemented. I showed they not only can but have been in many countries. You did not respond to those facts, you tried to change the topic to there being some challenges and some countries repealing the taxes. 

That's not honest discussion.

Your source also looks wrong. Mine said some countries had moved to wealth taxes on certain types of wealth; your source claims they abolished the tax entirely. Your claim was that a wealth tax isn't practical to have. I showed countries have it (and many more than you listed). Discussing problems with the tax is another topic. The US could have a wealth tax, and it's not socialism, another point you did not respond to.

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