we will never have a wealth tax because pirate games.
why have a wealth tax? excess wealth is correlated with monopolies which are a failure to maximise utility. therefore wealth taxes would help increase total utility. monopolies include but are not limited to family wealth, natural monopolies, social network monopolies.
however, suppose a whole bunch of us got together and demanded that wealthy oligarchs pay a wealth tax. the wealthy oligarchs could instead take a small amount of money and bribe 51% of us to defect, while keeping their money piles.
we will never have a wealth tax because pirate games.
why have a wealth tax? excess wealth is correlated with monopolies which are a failure to maximise utility. therefore wealth taxes would help increase total utility. monopolies include but are not limited to family wealth, natural monopolies, social network monopolies.
however, suppose a whole bunch of us got together and demanded that wealthy oligarchs pay a wealth tax. the wealthy oligarchs could instead take a small amount of money and bribe 51% of us to defect, while keeping their money piles.
therefore we will never have a wealth tax.
what to do instead? marry rich
Multiple democracies do have or have had wealth taxes.
I made a v2 of this shortform that answers your point with an example from recent history.
I made a v2 of this shortform
I agree with you.