No. of Recommendations: 3
I keep reading (John Mauldin, etc..) that the Gov (state and fed) will need to pay for all the public pension obligations coming due and one idea that has been mentioned is a "wealth tax". Tax the wealthy.

1. Mauldin is a crank.

2. You have to tax the wealthy, that’s where the money is.

3. It is extremely difficult to (successfully) administer an assets tax, people will find a way to evade/avoid it, as you are thinking about doing. Imagine if you had *real* assets, like the Koch’s or whoever. It’s easy to tax transactions, like home sales, personal income from an employer, and so on because there’s a record (ignoring the small amount of underground economy). It’s very hard to total up how many boats and cars, not to mention antiques, furniture, art, gold bars in safe deposit boxes and so on that somebody owns. I’m not saying it’s impossible, just that its inefficient, prone to government snooping in private lives, and easy to dodge.

4. It’s not Constitutionally enabled, so there’s that.

5. Mauldin is a crank. There are far bigger worries about taxation that this.
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