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Replace the 16th Amendment with a single tax on net assets at the interest rate on government debt, assessed at their liquidation value ... and use the revenue

Replace the 16th Amendment with a single tax on net assets at the interest rate on government debt, assessed at their liquidation value ... and use the revenue to privatize government with a citizen's dividend. https://ota.polyonymo.us/others-papers/NetAssetTax_Bowery.txt https://ota.polyonymo.us/others-papers/NetAssetTax_Bowery.tx... When we got a law passed to privatize space launch services back in 1990 https://www.youtube.com/watch?v=boLdXiLJZoY https://www.youtube.com/watch?v=boLdXiLJZoY we were in the midst of a quasi-depression so I decided to address the problem of private capitalization of technology with the aforelinked proposal.

JonChesterfield 2y ago
Schemes like this tend to move assets to a better location and otherwise cause widespread restructuring to minimise the loss. Taxation is inherently complicated.
- guywithahat 2y ago
  Not only that, but it would incentivize people to not own assets. People would live paycheck to paycheck, they’d rent longer, and they’d waste money on lavish trips or food (at least until the next economic downturn when they get evicted and lose everything).