I think I like the concept of the net-worth tax more than a generalized wealth or asset tax. Specifically, I definitely think we should subtract the value of secured debts from the assets against which they are secured. Perhaps we also should deduct the value of other special classes of debt (e.g. education loans) from the total. I don't generally like encouraging heavy use of unsecured consumer debt. And I certainly wouldn't want to allow the subtraction of the kind of "loans" that are frequently made by corporations to their CEOs (and then later forgiven, effectively giving the CEO a bonus without mentioning it in the official statement of executive compensation).
- Mood:
geeky
Wealth taxes...
I think I like the concept of the net-worth tax more than a generalized wealth or asset tax. Specifically, I definitely think we should subtract the value of secured debts from the assets against which they are secured. Perhaps we also should deduct the value of other special classes of debt (e.g. education loans) from the total. I don't generally like encouraging heavy use of unsecured consumer debt. And I certainly wouldn't want to allow the subtraction of the kind of "loans" that are frequently made by corporations to their CEOs (and then later forgiven, effectively giving the CEO a bonus without mentioning it in the official statement of executive compensation).
-
In which I ask you to give money, and spread the word.
Donation Link! Mapping Inequality: Digitizing our Redlining History As most people who would bother to read this probably know, in the past few…
-
November 3, 2020 General Election
I read widely -- among California papers, I subscribe to the LATimes, SM Daily Journal, SJ Mercury, Sacramento Bee... Possibly some more I'm…
-
Onineko Nisshoku, ~7/1/2018 - 10/10/2020
Nisshoku was born in a household with a cat hoarding problem. We have photos of him visiting our yard from as early as October of last year…
- Post a new comment
- 15 comments
- Post a new comment
- 15 comments
-
In which I ask you to give money, and spread the word.
Donation Link! Mapping Inequality: Digitizing our Redlining History As most people who would bother to read this probably know, in the past few…
-
November 3, 2020 General Election
I read widely -- among California papers, I subscribe to the LATimes, SM Daily Journal, SJ Mercury, Sacramento Bee... Possibly some more I'm…
-
Onineko Nisshoku, ~7/1/2018 - 10/10/2020
Nisshoku was born in a household with a cat hoarding problem. We have photos of him visiting our yard from as early as October of last year…
