Anybody who was crying about a wealth tax last year looks like a damn fool. Bezos lost 25% of Amazon in a divorce and is richer today than he was before the divorce, He's also sold large chunks of his shares too and yet he's richer than ever. A wealth tax as proposed by Elizabeth Warren on 2% over $50 million and 6% over a billion is needed.
We already have a tax for when people get a lot richer in a particular year, it's called an income tax.
If that's the issue why not raise rates, maybe creating some new brackets, rather than a whole new kind of tax?
Well, of course, there is a whole industry devoted to ensure the wealthy man's income is funneled in a way to avoid pesky "income" taxes.
