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For similar reasons, I'd cut the first bracket away : a 700k home happened upon much of the Parisian-and-suburbs middle class as a result of the housing bubble. The "standard family home" has been used as an excuse to cut the Estate tax ; let's not allow the same excuse for the wealth tax.

Un roi sans divertissement est un homme plein de misères
by linca (antonin POINT lucas AROBASE gmail.com) on Sat May 31st, 2008 at 09:51:29 AM EST
[ Parent ]
Okay, multiply the brackets by 30 (longer lifespans and lower long-term ROC rates). Also start with a 1% rate and round off the multipliers

0% below 30x GDP wealth
1% between 30x and 60x GDP
2% between 60x and 120x GDP
4% between 120x and 250x GDP
8% between 250x and 500x GDP
12% between 500x and 1000x GDP
16% between 2000x GDP and 4000x GDP
18% between 4000x GDP and 8000x GDP
19% between 8000x GDP and 16000x GDP
20% above 16000x GDP

The top bracket kicks in at 400M.

When the capital development of a country becomes a by-product of the activities of a casino, the job is likely to be ill-done. — John M. Keynes

by Migeru (migeru at eurotrib dot com) on Sat May 31st, 2008 at 09:59:36 AM EST
[ Parent ]


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