All working class people who are opposed to formuesskatt need to visit the United States, so they can experience the brutal reality of a nation without a wealth tax.
Thanks for your insights. Personally, I’d prefer to pay a wealth tax like that compared to a system where it’s up to the individual to save for their retirement.
I’m pretty sure that wealth taxes are uncommon globally; that is, not having one is going to be the norm. Not easy to enforce, and not all that many countries are going to be in a reasonable position to track assets sufficiently to do that enforcement.
As of 2017, five of the 36 OECD countries had a personal wealth tax (down from 12 in 1990).[2]
OECD countries have developed economies and are probably going to be in a better position to enforce a wealth tax than most countries. And yeah, they mention enforcement:
In 1990, about a dozen European countries had a wealth tax, but by 2019, all but three had eliminated the tax because of the difficulties and costs associated with both design and enforcement.[6][7]
There are some taxes that are sorta-kinda analogous, like estate tax. The US does have a federal estate tax and most US states also have estate taxes. And property taxes can act kinda like a wealth tax as well, as they’re on the amount of assets held. The US doesn’t have a federal property tax, but most US states do have a property tax.
All working class people who are opposed to formuesskatt need to visit the United States, so they can experience the brutal reality of a nation without a wealth tax.
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Thanks for your insights. Personally, I’d prefer to pay a wealth tax like that compared to a system where it’s up to the individual to save for their retirement.
A reasonable and nuanced take? Clearly, lemmy isn’t a very good reddit replacement.
140k euro/164k usd is a 20% payment on a fairly average single family home in a lot of of North America, or living expenses for 4-6 years.
The exclusion should not penalize working class; a retirement fund shouldn’t be hit with a wealth tax!
The exclusion should be indexed to inflation.
I’m pretty sure that wealth taxes are uncommon globally; that is, not having one is going to be the norm. Not easy to enforce, and not all that many countries are going to be in a reasonable position to track assets sufficiently to do that enforcement.
kagis
https://en.wikipedia.org/wiki/Wealth_tax
OECD countries have developed economies and are probably going to be in a better position to enforce a wealth tax than most countries. And yeah, they mention enforcement:
There are some taxes that are sorta-kinda analogous, like estate tax. The US does have a federal estate tax and most US states also have estate taxes. And property taxes can act kinda like a wealth tax as well, as they’re on the amount of assets held. The US doesn’t have a federal property tax, but most US states do have a property tax.