if the government thought it could make money with a wealth tax, they would run inflation at 20% a year and then claim that assets repricing against inflation is a "gain" that you owe money on
the incentive would be to create Zimbabwe level inflation
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if the government thought it could make money with a wealth tax, they would run inflation at 20% a year and then claim that assets repricing against inflation is a "gain" that you owe money on
the incentive would be to create Zimbabwe level inflation