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I’m in favour of tax and rich folk paying more, but a naive imagining that a simple wealth tax is the answer just isn’t helpful. I’m against wealth taxes because they’re crap taxes - they’re easy to avoid, easy to get caught in by accident if you’re not employing an expensive accountant, and therefore a rubbish way of raising money
Not the same - a bank needs it to be roughly right across a portfolio of loans, I need it to be exactly right for me.
Property tax etc is an understood part of owing a property- an intrinsically valuable thing. I’m strongly in favour of land tax - it encourages the productive use of land. I can’t live in shares, and I can’t eat them. At some point I may make some actual money from them and at that point I should pay tax. I should not be taxed now on possible future gains, anymore than I should be taxed now on a possible pay raise if I get a promotion.
Fairer and more effective tax is essential- and to advocate for it effectively a grasp of the basics is essential. Otherwise you’re counter productive. I feel I’ve made my points and shall withdraw