[mercutio2]

Wealth taxes are very, very different from higher income taxes.

People are mad about buy-borrow-die, so they’re proposing extraordinary new measures.

Personally, I’d just make capital gains taxes apply at the “borrow” stage to actually fix the problem. That would have a host of compliance issues but they’d be localized in the finance industry which already has an army of people figuring out compliance.

[Finnucane]

But they made exactly the same arguments against it, and it was bullshit.