--- In LandCafe@yahoogroups.com
, "John" <burns-john@...> wrote:
> The top 1% could be slapped with a on-off 10% taking of their wealth which would spark the economy and not hurt them at all.
Japan used a one-time 25% wealth tax after WW II to get out from under a crushing debt burden. The effect appears to have been very salutary.
So much of the wealth of the super-duper uber-rich is of dubious origin, and so much of it is derived from the very same crooked deals that government has gone into debt to finance, that a one-time 90% wealth tax on personal assets over $10M would probably inflict very little real injustice or economic harm.
-- Roy Langston