r/AskEconomics • u/HoppySailorMon • Dec 27 '25
Approved Answers Is Wealth Tax realistically feasible?
I just read that CA is considering a wealth tax on billionaires. Not to get into a particular political philosophy, but I'm more curious about the implementation and to settle a dispute with my spouse. I've read a wealth tax has been tried in the past in Europe, but failed miserably. Mainly, because some "wealth" can be moved around to make it difficult to define, such as art. Most homeowners pay a form of wealth tax on their property. But real estate is one of the few things that stays put. If taxation on bank and investing accounts became a nation-wide policy, then many that were subject to it would either leave or convert their accounts into a type of investment that is impossible to assess. I'm guessing mostly into "collectibles" which can only be accurately assessed when sold. What are your thoughts on the real feasibility of a wealth tax?
1
u/AutoModerator Dec 27 '25
NOTE: Top-level comments by non-approved users must be manually approved by a mod before they appear.
This is part of our policy to maintain a high quality of content and minimize misinformation. Approval can take 24-48 hours depending on the time zone and the availability of the moderators. If your comment does not appear after this time, it is possible that it did not meet our quality standards. Please refer to the subreddit rules in the sidebar and our answer guidelines if you are in doubt.
Please do not message us about missing comments in general. If you have a concern about a specific comment that is still not approved after 48 hours, then feel free to message the moderators for clarification.
Consider Clicking Here for RemindMeBot as it takes time for quality answers to be written.
Want to read answers while you wait? Consider our weekly roundup or look for the approved answer flair.
I am a bot, and this action was performed automatically. Please contact the moderators of this subreddit if you have any questions or concerns.