Inventing Reality

It's repeated frequently because it's true. A wealth tax that hits the truly rich is only a good tax if it doesn't have side casualties. If you have a suggestion how to make a wealth tax that also doesn't affect the examples I have mentioned I'm interested to hear it.

I think that instead of a basic wealth tax, a tax on rental properties and a tax on stocks and corporate ownership is more reasonable. The corporate ownership tax would also have to exclude small companies in which you are a worker yourself so as not to overly tax farms or other small capital heavy small businesses. I personally work with farmers and I know even a 1% tax on the total value of their farms would totally kill most of their profit. I personally know a farm near the city limits which is worth over 12 million dollars just because of the near-city land he owns and farms on. But his income is only average in the region. Yes he could theoretically sell the land to a real estate developer who could build over a hundred houses. But he only wants to farm so he doesn't. I don't think it's fair to tax him on the 12 million, it would kill his business.