ST Alpha - "Wealth taxes are likely unconstitutional as an unapportioned direct tax." (Reading a Post)

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In response to "So what you’re saying is that the net worth flat tax is a better idea! -- nm" by JackDawson

Wealth taxes are likely unconstitutional as an unapportioned direct tax.

Posted by spamlet May 15 '20, 10:28

That's why I think even counting unrealized gains as income is problematic. I can see a pretty good argument that it isn't "income" but "wealth" and back to square one.

Responses:

I was actually curious about your IM, in fact. -- nm - znufrii, silly old man May 15, 10:31 1
- I’ve thought about it a bit since it gets raised every once in a while. I don’t know if I’ve seen anything like that on point though. - spamlet May 15, 10:40
Under the 90% tax no one counted unrealized gains as income, but I was being flippant about the flat tax point -- nm - JackDawson May 15, 10:29

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Wealth taxes are likely unconstitutional as an unapportioned direct tax.

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