by Robert Reich

[elleng]

I debated a conservative Republican yesterday who insisted that a tax on wealth (such as suggested by Thomas Piketty) was “un-American.” He said it would be “double-taxation” since the income that created the wealth had already been taxed. I explained we already have a tax on wealth. It’s called the property tax on home values. But because homes are the major (and often sole) asset of the middle class, while most of the wealth of America’s rich is held in stocks and bonds, the property tax is regressive. So why not get rid of the property tax and substitute a broad-based wealth tax, whose revenues could be used to give all Americans a first-class education?

What do you think?

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[randys1]

1. Property tax does make it tough to own property, but we shouldnt be allowed to own property

in the first place...

Ask me why and I will make you wonder about it too...

[Blanks]

4. Go on...

[randys1]

5. OK

Following scenario is very possible given teaparty insanity

all govt regulation removed, no natl parks, etc., Koch's buy all ocean front property on all Hawaiian Islands, you and I never get to sit on a beach in Hawaii, never, ever...

then they buy Yosemite and Yellowstone, same thing

owning property is absurd

i could make better examples or more, but you get my point

[Blanks]

6. So, do you believe that any private ownership...

Of any property is a bad thing?

[randys1]

7. By individuals of land yes, not personal property or mobile homes - JUST land

ONLY land is something we should not be able to own

That we have accepted this over time makes some of us think my idea to be radical, but the radical idea is allowing private ownership of land...

[Blanks]

8. I can understand the need for land ownership...

I'm beginning to think that the system that allows an individual (or company) the ability to 'harvest' the natural resources - without equal benefit to all is a bad system, but I need to own the real estate that my house sits on.

I think that we need to have the ability to prevent wealthy persons from destroying the land, but no ownership of land is likely to have a downside.

[randys1]

9. No, you can lease the land for 100 yrs but to own it forever is absurd if you think about it

[Leme]

2. ahhh, The impossible Dream

a wealth tax

Gomer says, "Hey"

[Jefferson23]

3. Recommend. n/t