Originally posted by C0|dB|00ded
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Originally posted by C0|dB|00ded
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Originally posted by C0|dB|00ded
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They all abolished their wealth taxes which included unrealized gains, because:
1) Investors left.
2) Investors had to sell assets to cover paper profits, so they stopped investing anywhere near the levels they normally would.
3) The tiny bump in government income pissed off its wealthiest people while not really making any impact.
It's a very, very dumb idea that has been tried many times, and fails every time.
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