Obviously tax law would have to be more nuanced, if you only own a single house then you can’t be expected to sell it just to pay the tax on it, but the tax could accumulate for when/if you do sell it. But someone who owns hundreds of properties which increase in value, could be expected to sell some to pay the tax. The point is to affect people who hide their actual income from taxes like this, just like Bezos does.
Because it is also a messed up way to tax people, to only require people who can’t afford these tax evasion strategies to pay income tax.
on it, but the tax could accumulate for when/if you do sell it.
That’s already how tax works on selling a home (in the U.S.) It’s called a Capital Gains Tax.
You can’t just raise the taxes every year for what a home is worth to the market (I mean, you can, but then if someone has retired you’re forcing them to pay more money every year as their home goes up in value). If you’re just living off of social security, you don’t have that kind of flexibility.
Obviously tax law would have to be more nuanced, if you only own a single house then you can’t be expected to sell it just to pay the tax on it, but the tax could accumulate for when/if you do sell it. But someone who owns hundreds of properties which increase in value, could be expected to sell some to pay the tax. The point is to affect people who hide their actual income from taxes like this, just like Bezos does.
Because it is also a messed up way to tax people, to only require people who can’t afford these tax evasion strategies to pay income tax.
That’s already how tax works on selling a home (in the U.S.) It’s called a Capital Gains Tax.
You can’t just raise the taxes every year for what a home is worth to the market (I mean, you can, but then if someone has retired you’re forcing them to pay more money every year as their home goes up in value). If you’re just living off of social security, you don’t have that kind of flexibility.