Don't get me wrong, I'm all in favor of the rich paying taxes. But i don't understand how that would work necessarily.
For example, Musk is worth something like $400 billion. but that doesn't mean he has $400 billion in the bank. His liquidity and his net worth are not the same, nor is his income.
He, like everyone else in America, pays a tax on an asset. Any of you who have paid for a car, for property tax, bought a fridge, a stove, a freaking candy bar, have done the same. The difference is, his purchases appreciate in value. i don't know about the rest of you, but I've never known a car to appreciate in value. I've never seen a candy bar become worth more than when you bought it. I've never seen a fridge appreciate in value.
Hell, I'm living out of my car, and my net worth is about 40k, doesn't mean i can move into house right the hell now. The business i had before was valued at about 2 million before rona killed it.
Can one of you explain to me, a reasonable plan, as to how we might tac the rich on their net worth, rather than their income?