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Originally Posted by Bloobird
this still seems like an absurd annual burden to put on people, and massively open to fraud
much the same could be said for the status quo
the first year would be the hardest - the initial cataloguing
afterwards, it would be relatively simple to keep a log of major purchases
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a lot of wealth is land-related, would you have to hire a professional valuer every year?
real property values are already determined annually by the county tax offices, with procedures in place for contests
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and it would, if anything, exacerbate the issue of wealth holdings through complex corporate structures to obscure true ownership
I don't follow, here. The corporation would still be taxed on its holdings, and the shareholders would still taxed on their respective share prices.