I don't support it, but it would achieve their goal of "soaking the rich"... so why haven't they advocated it considering that the current income tax code is as progressive as it can get?
They could also achieve their goal of creating more ethnically diverse neighborhoods by a progressive residential real estate tax and a residential real estate tax could not be evaded, unlike the death tax, or a cash or stock savings tax. They could also charge $1k per acre of land, and that would then assume that all land was rented from the federal govt. I don't support that, although it's more progressive than the income tax and the payroll tax.
The only other thing I can think of is an IQ tax, except maybe it would be 1hr per year of forced public work for each iq point over the average than a tax for each iq point over the average. I don't favor that either, but I've never understood why the Democrats don't have any original philosophy other than maybe kucinich and sanders, although sanders is an independent.
The problem with the income tax is even if it were not evadable, there would be less incentive to work when top marginal rates are super high unless there were a lot of deductions and if the top marginal rate started at the highest .01% of earners... which was the way it was in the past, so there was no egalitarian utopia.
They could also achieve their goal of creating more ethnically diverse neighborhoods by a progressive residential real estate tax and a residential real estate tax could not be evaded, unlike the death tax, or a cash or stock savings tax. They could also charge $1k per acre of land, and that would then assume that all land was rented from the federal govt. I don't support that, although it's more progressive than the income tax and the payroll tax.
The only other thing I can think of is an IQ tax, except maybe it would be 1hr per year of forced public work for each iq point over the average than a tax for each iq point over the average. I don't favor that either, but I've never understood why the Democrats don't have any original philosophy other than maybe kucinich and sanders, although sanders is an independent.
The problem with the income tax is even if it were not evadable, there would be less incentive to work when top marginal rates are super high unless there were a lot of deductions and if the top marginal rate started at the highest .01% of earners... which was the way it was in the past, so there was no egalitarian utopia.