Argentina passes new tax on wealthiest people to pay for cost of coronavirus pandemic

taxes are a good thing. taxes pay for services


Wealth taxes are one one of the dumbest ideas out there. They force people to liquidate hard assets to pay for the tax, and flood the high end market with hard assets that may have to be sold at significantly lower values, thus forcing the people to sell more assets, thus lowering selling prices further.

Look to the government to graciously "buy up" the surplus assets, at a fraction of the cost. Or even better, government cronies and insiders doing the same.
 

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