Comment Re:Texas, here they come! (Score 1) 295
The rate on zero is always zero, and a wealth tax on assets that are not personally owned, cannot be objectively valued, and cannot be liquidated without market disruption is not a revenue solution. It is a political statement.
I think the solution to this is treat the loans the uber rich live on as income (which they really are) and tax them accordingly. But also better regulation of borrowing against speculative assets like shares, because there is no way they should let people like Elon borrow against the market value of of his share of SpaceX or Tesla because they are extremely overvalued. When your P/E is over 100 like Telsa something is wrong, currently 317 vs Apple at 32, Nvidia 41 and Amazon at 29.