Quote:NO.

 

N. O. to a "wealth tax."   That is totally unfair.   I don't mind income taxes, but once your income gets past the income tax, it's yours, and should not be confiscated just because someone else wants some of it. 

 

The problem with your point of view is that money is actually a function of society, and is a collective good. Without the collective the money doesn't actually have value, and as such hoarding it has to be something that society actively discourages. A small wealth tax on holdings over some threshold would do incredible things for the economy to spur investment. Couple it with proper trade and labor laws and suddenly big corporations can't hire and invest fast enough.

 

It's all about incentive for the desired behavior. I'd also like to see a transaction tax on all public trading to make high frequency trading untenable. Time to make things about the people again, not about amassing massive wealth for a few individuals.

---