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5% is a pretty high wealth tax, so I actually find this credible.
As rough as property tax can be, 5% would be crazy. Imagine being told you owe 25,000 dollars because Zillow shows houses near you selling for 500k...
I prefer the concept of stock secured loans counting as income.
I mean I'm middle class and could afford this... sure I wouldn't be happy about it but the idea that it would be so onerous on literal billionaires seems absurd.
Did you just swallow the hook and line, or the sinker too?
the issue isnt being taxed...it's knowing with 100% certainty that your taxes are just going to pad the pockets of some rich fuck somewhere instead of back into the public good (like taxes are supposedly for), something that's true under both dems and republicans, dems just atleast put on a believable veneer
there's a dozen different ways to grab the $ back from these motherfuckers, the biggest issue there is the US's halfassed federal system gives em 50 different ways to weasle out and ratfuck safely from somewhere else.