There's a good thread on Quora about it: https://www.quora.com/What-would-happen-if-the-US-imposed-a-wealth-tax-which-would-take-5-annually-from-holdings-of-families-worth-100-million-or-more-Would-this-fund-the-deficit-and-improve-the-economy
Basically, if you try to excise wealth tax from Besos, it would cause a crash in the Amazon stock and likely general stock market crash.
" A recent paper by Stephen Rose at the Urban Institute looks at different studies across the economic spectrum. Rose reports that the findings by Piketty and Saez are outliers. It must be their French technique.
This matters because the widespread embrace of the Saez/Piketty/Zucman narrative about income inequality fuels the recently growing enthusiasm for a wealth tax in America. It would be a shame to base our tax policy on a flawed academic fad. In addition, an extensive academic-literature review performed by Scott Winship — who now heads the Social Capital Project for the Joint Economic Committee of Congress — and published in 2013 in National Affairs reveals that there is “little basis for thinking that inequality is at the root of our economic challenges, and therefore for believing that reducing inequality would meaningfully address our lagging growth, enable greater mobility, avert future financial crises, or secure America’s democratic institutions.” "
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timeasmymeasure
no subject
Date: 2019-10-11 05:21 pm (UTC)no subject
Date: 2019-10-15 06:13 pm (UTC)Basically, if you try to excise wealth tax from Besos, it would cause a crash in the Amazon stock and likely general stock market crash.
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Cohen the Barbarian
no subject
Date: 2019-10-17 10:30 am (UTC)"
A recent paper by Stephen Rose at the Urban Institute looks at different studies across the economic spectrum. Rose reports that the findings by Piketty and Saez are outliers. It must be their French technique.
This matters because the widespread embrace of the Saez/Piketty/Zucman narrative about income inequality fuels the recently growing enthusiasm for a wealth tax in America. It would be a shame to base our tax policy on a flawed academic fad. In addition, an extensive academic-literature review performed by Scott Winship — who now heads the Social Capital Project for the Joint Economic Committee of Congress — and published in 2013 in National Affairs reveals that there is “little basis for thinking that inequality is at the root of our economic challenges, and therefore for believing that reducing inequality would meaningfully address our lagging growth, enable greater mobility, avert future financial crises, or secure America’s democratic institutions.”
"