17 Dec
2003
17 Dec
'03
6:17 p.m.
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 [...]