Conceptually you are right- a tax on ownership. Though I will say a house & the neighborhood one lives has a lot more utility than equity ownership..
But that’s not even what I’m here for
When I posted this…. It was more me asking “have the specifics/mechanics been released”.
Things like “will ones tax bill be based on the portfolio value on an arbitrary date/end of year value/average value throughout the year/average value since inception/ect”
The actual tax rate itself.
Who is eligible (yes billionaires but the actual criteria.)
I’m more curious about the effects on flows in the market than anything else
I have the same questions and it doesnt seem like it would work
How hard is it to just get rid of a majority of deductions and loopholes and have a progressive tax rate?
they just want to make the tax code longer and longer. Filing taxes in Australia requires 1 or 2 pieces of paper
