| The income and wealth gap in the US are the highest they’ve been in almost 100 years. It’s something that need to be addressed before it creates even more extreme internal conflicts. However, I worry about the practical impacts of wealth taxes on the economic system. And that’s because there’s a difference between wealth and money. It’s all about the mechanics. Bubbles burst when there’s a need for money to generate cash flow. Wealth taxes would create a situation where people who are wealthy on paper need to sell assets to cover their liabilities. And that can quickly create a dynamic that leads to a broader issue. It’s something to watch in the coming years. #wealthtaxes #wef26 |
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