Reply #94: Yes - but not just an income tax - a wealth tax [View All]

[lelgt60]

We need a complete progressive federal property tax. As many have pointed out, "income" can be zero for a wealthy person and not crimp their style a bit. Besides, once they have everything, a true wealth tax is the only way to recover it.

Interestingly, one of the arguments against focusing on taxing the income of the wealthy is that it won't produce much tax revenue because their aren't enough wealthy people. If that's true, then it won't have an effect on the economy either. It will just be more fair.