Groan. Western countries have at times used taxes on wealth to enable massive infrastructure development. Straight after WW1 and WW2 almost all Western countries introduced “profit” taxes of 80-90% and increased taxes on the wealthy. It was the only way the UK, for instance, could rebuild after the war and why we have an NHS and used to have a great welfare state.
I don’t actually believe we should tax the excessively wealthy. I think we should take what they’ve stolen over the centuries back into common democratic ownership.
Groan. Western countries have at times used taxes on wealth to enable massive infrastructure development. Straight after WW1 and WW2 almost all Western countries introduced “profit” taxes of 80-90% and increased taxes on the wealthy. It was the only way the UK, for instance, could rebuild after the war and why we have an NHS and used to have a great welfare state.
I don’t actually believe we should tax the excessively wealthy. I think we should take what they’ve stolen over the centuries back into common democratic ownership.
UK didn’t have wealth taxes post war. Because wealth taxes don’t work. Off you go back to school.