Nicholas Kristof: Should we soak the rich? You bet we should.

[dilbert firestorm]

https://www.sltrib.com/opinion/comme...ristof-should/


soak the rich! Yeah!!! says Kristoff.

Considerable evidence suggests that the same is true of CEOs, and that higher tax rates don’t depress effort. In Switzerland, a shift in tax timing meant that the Swiss were not taxed for one year. This tax holiday, which they knew of in advance, turned out to have no impact on how hard people worked, Banerjee and Duflo write.

The wealthy would still have more money than they could ever spend: Jeff Bezos would have had $87 billion in 2018 if Warren’s wealth tax had been in place all along, rather than $160 billion, according to calculations of Saez and Zucman. But we would be, I think, a fairer and better nation.

So should we soak the rich? You bet we should.

[friendly fred]

I think the enforcement provisions would be very difficult.

What if you taxed the idiot who ran WeWork on wealth?

3 months ago you could have said his ownership portion of WeWork was worth say 10 billion.

With the busted IPO, he has lost 75% of his wealth.

How would you asses the net worth of a guy who owns BitCoin and trades in and out of it each day?

It is hard enough to tax real estate fairly, and everyone fights the valuations and makes up stupid numbers on it, too.

[rexdutchman]

More socialist idiot speak