Now that the
tax looting bill passed last night, let’s think about the ads that can be run:
Senator X just voted to increase your taxes on your home while allowing rich assholes to write off their private jets that bring them to the Caribbean ….
Senator X just voted to make it harder for your kids to finish their education but the rich assholes who go to Shadyside Academy get cheaper tuition… is that fair?
My first thought this morning is a simple one. How difficult is it to write an enforceable tax on net personal assets over a fairly large threshold ($100 million was my first spitball figure)? I would split this into two elements. The first would be confiscatory inheritance taxes over that threshold and the second would be a tax roughly equal to the rate of the 30 year Treasury. Concentrated wealth is killing the US democratic experiment.