on October 12, 2026, 08:49:18, in reply to "A federal wealth tax would be unconstitutional unless a socialist court takes over*"
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Quite frankly, I think anyone with $10M liquid bounce.
It would also destroy home values….which may be a good thing…. But that is a different discussion. Lots of $5-$15m net worth individuals out there with 1/2 to 3/4s of their net worth tied to real estate. A one time 10% wealth tax would crash real estate as most of those people would attempt to sell a property to pay the tax bill. All of those high end properties would cascade the total market into a free fall….especially with rates at the current level. Previous Message
Newsom's been getting recent publicity for fighting against the wealth tax referendum in California. Good for him. What is almost always left unsaid is that he wants a federal wealth tax, which would keep people from moving to escape state wealth taxes.
"Iowa women were better than Illini men" - Potomac20
