Quote:
Originally Posted by Mark
Several European countries imposed but later abandoned the wealth tax, in part because it was so difficult to determine someone's genuine wealth. At the same time, there may well be a strong desire in some circles to level things. It has happened before.
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It has always been a part of economic recovery. We are doomed if we don't overtax the rich. History is supposed to teach you things. During the 50s and early 60s the top bracket income tax rate was over 90% and the stock market, economy, and middle class all boomed. If you're a boomer, you grew up in your childhood home because of this tax. Now those boomers are in government. You're supposed to learn from what worked.