Ron Johnson thinks that Income Inequality is the American way

[muon2]

The regressivity of sales taxes can be addressed by basing rates on the type of good or service taxed. Higher income groups use some services in higher proportion than the general population. Many states do this with reduced sales taxes on food and/or clothes, but there are many other categories of retail sales and use taxes that are tracked. Systems can be made less regressive by including categories that are more often used by the wealthy (eg financial and accounting services).

One suggestion to tax wealth accumulation is to treat capital gains as income. I would modify the usual suggestion so that the capital gain only includes the gain over inflation. Then it better rewards long-term investment over short-term asset manipulation.

[Filuwaúrdjan]

It's a matter of degree. Everything is a balancing test.

Naturally. But you do have a terrible, terrible habit of shrieking that IT CAN'T BE DONE whenever something is proposed that you very much do not want to see happen.

[Torie]

It's a matter of degree. Everything is a balancing test.

Naturally. But you do have a terrible, terrible habit of shrieking that IT CAN'T BE DONE whenever something is proposed that you very much do not want to see happen.

I don't think so, but whatever. I was pointing out the problems with a wealth tax. Obviously it could be done. If you disagree with my description  of the problems, feel free to address that if the spirit so moves you. France I think has a wealth tax. Start from there. Go for it!

[🦀🎂🦀🎂]

Well, there are always two strands at hand in any public issue discussion. The issue of the specifics of the solution - in this case that wealth taxes are finickity and often lead to unforeseen issues - and the entirely seperate matter of whether the issue (of wealth inequality) is worth doing something about in the first place.

[Torie]

Well, there are always two strands at hand in any public issue discussion. The issue of the specifics of the solution - in this case that wealth taxes are finickity and often lead to unforeseen issues - and the entirely seperate matter of whether the issue (of wealth inequality) is worth doing something about in the first place.

Exactly, wealth inequality, and in particular, wealth stagnation (actually more like decline) except for those on the very top, is a real problem - almost a toxic problem. And how to address it intelligently, rather than counterproductively, is a challenge. I keep harping on reforming low income zip code schools as ground zero on this for the long term, because I believe that is where the rubber meets the road. There is almost no issue that animates me more - none.