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nickff 2 hours ago

>”Genuine question, why?”

A wealth tax would clearly be a ‘direct tax’, which must be apportioned among the states according to the constitution.

JumpCrisscross an hour ago | parent [-]

Eh, this is debated. (Moore.) It could be written as an excise tax, too, push come to shove.

nickff an hour ago | parent [-]

Capital gains are permissible because of the 16th amendment; the 16A does not permit the congress to tax assets. It seems like quite a stretch to apply Moore to cash holdings.

throwaway85825 an hour ago | parent [-]

We already have taxes on assets. They're called property taxes.

apparent an hour ago | parent | next [-]

The state govts can do things that the federal govt is forbidden to do.

nickff an hour ago | parent | prev [-]

Congress is not permitted to levy property taxes.

throwaway85825 an hour ago | parent [-]

Tax money is fungible.