Quote:
Originally Posted by Jim in CT
Explain to me how youd begin to do it in a country of 330 million, when some people have their wealth in jewelry, baseball cards, rare coins, expensive wine, fine art, gold bars, etc. You'd send different kinds of appraisers to everyone's house, every single year? How would you know who sold what or who bought what?
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Most wealth taxes I've read about only target the super rich so most Americans wouldn't need to bother with them. They also seem to apply to only certain types of assets. I'm guessing there would have to be some level of self disclosure with the government always having the option for an audit if appropriate.