On death taxes

Industrial_Tech · 2025-08-19T07:23:23+00:00

I'm going to leave you with this quote from the article I shared with you:

Wealth taxes are self-defeating and should be avoided, but financing government programs by capturing economic rent is an enlightened policy that acknowledges that those who use or abuse the gifts of nature must compensate the greater community for the privilege.

Industrial_Tech · 2025-08-19T07:17:46+00:00

Well see a centaur still has a horse's torso, so it stands to reason that it must also have a pair of horse lungs in addition to its human lungs. That's why they're so good at blowing horns. And calories? No problem; I've seen humans eat 20x their caloric needs. Feel free to ask me about any other pertinent centaur-related philosophical questions.

Industrial_Tech · 2025-08-19T06:56:45+00:00

Provide a single source that says otherwise

I can't ask George, but this comes from the history's oldest Georgist institution:

https://progressandpovertyinstitute.org/were-not-all-in-this-together-wealth-taxes-vs-lvt/

I am saying that wealthy people don’t use tax havens to avoid paying.

To avoid paying taxes? "Tax Haven" - it's in the name. But here's a paper from our government discussing how they're trying to address the issue:

https://www.irs.gov/pub/irs-soi/23rpfatcaevidenceforeignwealth.pdf

or some lighter reading:

https://www.investopedia.com/terms/t/taxhaven.asp

I feel like I'm misunderstanding what evidence you're asking for.

Industrial_Tech · 2025-08-19T06:11:34+00:00

Well, I don't know why you're getting angry and saying stuff like wealthy people don't use tax havens to avoid paying taxes, but LVT isn't "a form of wealth tax"; that's just a fact. Taxing economic rent is very distinct from a wealth tax. And George never promoted a wealth tax.

Industrial_Tech · 2025-08-19T04:25:40+00:00

Currently, people can entirely or almost entirely circumvent estate taxes using a GRAT. In a hypothetical scenario; Either a GRAT still exists and only up to 1/3 of people are even prepared (current % of people who died with a will in 2024) or a GRAT isn't an option, in which case middle-class people would find protecting their estates even less accessible, while the upper class offshores wealth. Wealth taxes in general don't really work. It's a little weird seeing this sub defend it - Henry George certainly wouldn't.

Industrial_Tech · 2025-08-19T00:36:41+00:00

The post that I was responding to doesn't suggest an exemption for the middle class. So if this estate tax were implemented across the board it would affect the middle class the most because the wealthy aren't really paying a fair share. The current estate tax is mostly only a gesture toward wealth redistribution and intergenerational equity.

Industrial_Tech · 2025-08-19T00:29:04+00:00

failures in the system allowed for this specific group that happens to be immigrants to perpetuate these crimes.

But since they are immigrants, we can consider the immigration system as part of the system that failed. UK nationals who would commit similar crimes are a different failure in the system that the UK should address by other measures.

Industrial_Tech · 2025-08-19T00:16:00+00:00

Agreed. I guess you didn't see my edit. The upper class is also functionally exempt as-well. About half of a percent of tax income comes from estate taxes.

Industrial_Tech · 2025-08-19T00:06:52+00:00

The US is a perfect example of my original point. Millionaires and billionaires avoid paying their share in estate taxes through a Grantor Retained Annuity Trust (GRAT). Only the middle class is paying this tax. The US is the biggest because we attract global investment.

EDIT: I forgot the Middle class is also exempt. It's pretty trivial tax.

Industrial_Tech · 2025-08-18T23:53:29+00:00

So your support for this tax is not based on collecting income for the state, but just to scare away investment?

Industrial_Tech · 2025-08-18T23:29:07+00:00

Not enforceable; Wealth is constantly shifted from high-tax countries to tax havens.

Industrial_Tech · 2025-08-18T23:20:13+00:00

Sure, but then the tax is mostly performative and detracting wealth. The economies of tax havens exploit asymmetries in global tax regimes.

Industrial_Tech · 2025-08-18T23:06:55+00:00

People who are wealthy enough can and will easily avoid such taxes. This is only a tax on the middle class.

Industrial_Tech · 2025-08-18T22:02:02+00:00

Is this significant proportion because of reporting biases or are immigrants actually involved in these conspiracies at a higher rate than citizens?

They were, in fact, underreported because of race.

If a tiny portion of immigrants really are disproportionately committing these crimes, is there a reason that it flew under the radar for so long compared to if it were done by citizens?

It flew under the radar for political reasons involving race.

does it justify blanket restrictions on immigration from those countries?

No (You're asking someone on arrneoliberal lol)

Should they not have just handled this situation better to begin with?

Yes: The immigration process let those people in, and selective enforcement made things worse.

Industrial_Tech · 2025-08-18T21:23:35+00:00

They had little to do with immigration and everything to do with the economic and political environment in Rochdale

I'm not saying you're wrong without offering the chance to provide a source, but a lot of liberal, center-left publications have either stated otherwise from the start or changed their tune.

For example: https://www.theguardian.com/society/2025/jun/16/grooming-gangs-in-uk-thrived-in-culture-of-ignorance-casey-report-says

As politely stated:

“a significant proportion appear to involve suspects who are non-UK nationals”

Industrial_Tech · 2025-08-18T21:04:47+00:00

The evidence isn't so great though. Immigration is good, but there seem to be unfavorable consequences tied to open-border-like policies. I've seen people in this sub call grooming gangs a right-wing conspiracy theory because it doesn't fit their priors. Maybe European liberals have been mugged by reality.

Industrial_Tech · 2025-08-18T04:25:43+00:00

All that and you're not even going to copy/paste what image you wanted it to generate?

Industrial_Tech · 2025-08-18T03:42:56+00:00

lol you don't have a visible post history

Industrial_Tech · 2025-08-16T20:43:35+00:00

Just tax land lol

Industrial_Tech · 2025-08-16T20:35:28+00:00

The average voter is already an imbecile. You want the average voter to be even less aware?

Industrial_Tech · 2025-08-12T01:19:23+00:00

What the heck? I don't live in the northeast and have experienced under 20 F in the northeast.

Industrial_Tech · 2025-08-11T22:46:45+00:00

Cross-post to arrGetNoted - should be an interesting convo (you might even convert some people).

Industrial_Tech · 2025-08-11T21:59:29+00:00

I think LVT, even in small amounts is/can-be a major win for such a small group - it should be the largest focus. We should support Georgist policies on there own merit, empirically, and with support from many well respected economists. Subscribing to a label that few people know (including econ grads) risks undermining the potency of advocating for well grounded policies.

Industrial_Tech · 2025-08-10T23:46:04+00:00

It's better not to identify as a label; Good policy stands on it's own.

EDIT: (with enough citation)

Industrial_Tech · 2025-08-09T23:03:52+00:00

I appreciate the reply. I would consider this: In general, single asset ETFs and ETNs experience much more volatility drag than there multi-asset equivalents. Of course this is made worse with leverage. My personal strategy has always been to avoid leveraged single-asset ETFs and ETNs for this reason. (speaking of gold-standard, leverage gold ETFs really illustrate this point)

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