re: #109 KGxvi

we have wealth taxes in the US, just at the state level, and we call them “property taxes”. We don’t have them at the federal level because they’re considered direct taxes* and as such are required to be apportioned among the states by population. That makes it incredibly complicated to do.

*yes, I know that the most recent advocates for direct taxes have argued that wealth/property taxes are not direct taxes but they’re full of shit. Property taxes have always been understood to be direct taxes. And the question the advocates have never been able to answer is “if wealth/property taxes are not direct taxes, then what is a direct tax?”

We used to have federal estate taxes, but we barely do anymore. The estate has to be over 13 million before it kicks in. And I suspect people over 13 million avoid it with trusts and such.