Just curious.
Because the constitution doesn’t allow the federal government to tax wealth. Fortunately.
BTW, that’s why we have an “inheritance tax”, and not an “estate tax”.
A tax on an estate would be a wealth tax, and the feds have no authority. A tax on “inheritance” is a type of income tax, which they can do under the 16th amendment.
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A very valid question.
Taxing wealth, while probably not totally fair (I'd have to think about it), is MUCH better than taxing income, even with a flat RATE scheme, which is usually mistakenly referred to as a “Flat Tax”.
They tax both.
Lots of areas & states also have ‘personal property taxes’ on everything they own.
Because what they truly want is a feudalist system.
They don’t want anyone else accumulating wealth.
The answer is easy if you go back to the book (Marx’s The Communist Manifesto)
2. A heavy progressive or graduated income tax.
Marx takes care wealth in Rule 3
3. Abolition of all right of inheritance.
Rule 4 is where they come for us.
4. Confiscation of the property of all emigrants and rebels.
Finally someone else is asking that question. The obvious answer is because they want to protect their wealth and keep other people - us serfs - from becoming wealthy and joining their club!
IOW, income taxes and over-regulation serve the same purpose in the US as the ghost cities in China: To use up resources so the ruled don’t become a threat to the ruling. They are Orwell’s “permanent war” set out in 1984: A way to use up the production of modern society and technology so the middles class can’t rise up to their level and threaten their power.
There's noting keeping them from spreading some of their own around is there?
If they think taxes are too low, they could overpay. But they don't.
If they want to give directly, thru charities, they could. But they don't do that, either. Liberals believe used underwear is sufficient charity.
Definitely a case of "Do as I say, not as I do."