[65762] in Cypherpunks
Re: Wealth Tax vs. Capital Gains Tax Reduction
daemon@ATHENA.MIT.EDU (Enzo Michelangeli)
Wed Sep 18 05:30:06 1996
Date: Wed, 18 Sep 1996 17:07:11 +0800 (hkt)
From: Enzo Michelangeli <enzo@ima.com>
Reply-To: Enzo Michelangeli <enzo@ima.com>
To: Thomas Dell <tdell@netscape.com>
Cc: cypherpunks@toad.com
In-Reply-To: <323F13CA.7523@netscape.com>
Such kind of wealth tax would likely trigger a major sell-off of stocks,
both because holding them would no longer defer taxation, and also for
raising the liquidity necessary to pay the tax. That could potentially
cause a stockmarket crash, and upset a lot of electors. I hope that U.S.
Congress and government be aware of that.
Enzo
On Tue, 17 Sep 1996, Thomas Dell wrote:
> > Needless to say, I despise the idea of a "wealth tax," and I can
> > see various loopholes and workarounds. I'd also expect a lot of
> > folks to simply move out of the country if this were to happen.
>
> Not without difficulty. While this is not from a reliable source,
> it does seem that the gov't is aware of this issue.
>
> Tom
>
> tdell@netscape.com
[...]
