Wealth taxes are difficult to implement, risk reducing growth and capital and cannot solve the structural fiscal challenges facing aging societies and overpromising governments. https://www.japantimes.co.jp/commentary/2026/01/12/world/wealth-taxes-dont-work/?utm_medium=Social&utm_source=mastodon #commentary #worldnews #wealth #taxes #rich #poverty #socialwelfare
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Is every newspaper with "Times" in the title a simp for the billionaires?
@thejapantimes No problem, we'll just make progressive income tax asymptotically approaching 100% then.
And while I see »difficult to implement«, I do not see the points »risk reducing growth and capital« and »cannot solve the structural fiscal challenges« as valid. The money is not gone, it just goes to more people.
Some concentration of wealth is probably needed for bigger projects, but
- not in the hands of single persons, and
- not to the point that others suffer