Smash capitalism! Support a wealth tax!
We already have various wealth taxes.
The main one (affecting most people) is the real estate tax.
The taxes on my property increased 30% this year based on market values appreciating.
So we are being taxed on value that we have not realized.
As an aside.
Bought the property with after tax dollars.
No mortgage.
But it doesn't really belong to me.
That point will be driven home if I don't pay the property taxes.
We already have various wealth taxes.
The main one (affecting most people) is the real estate tax.
The taxes on my property increased 30% this year based on market values appreciating.
So we are being taxed on value that we have not realized.
As an aside.
Bought the property with after tax dollars.
No mortgage.
But it doesn't really belong to me.
That point will be driven home if I don't pay the property taxes.