Interesting paper looking into whether the one-off billionaire tax will be a net positive to the state's coffers.
TLDR; "The present value of permanently lost income tax collections from departures more than offsets the one-time wealth tax revenue, yielding a net present value of negative $38.9 billion."
Posted by mostanonymousnick
2 Comments
>hoover institution
hmmmm
Taxing billionaires is arbitrary and capricious in my point of view. If we are choosing to tax wealth (we should be taxing on the expenditure not wealth), we should tax everybody’s wealth – including properties (above and beyond the property tax).