It will also bring down inflation as money received as tax is netted off against money created by the government, destroying that money, resulting in less money chasing things. Its the fiat currency equivalent of burning large stacks of gold IOUs (old time money).

Of course, the rich like to pretend the only way to fight inflation is to pay the richest people in the world eye watering amounts of interest.

Make it permanent.

They’re raising income taxes. I thought income tax was one of the easiest taxes to dodge. Rich people usually have capital gains, not income from work. And even then they can get loans instead of an income using their assets and loans are not taxed. Seems more like a symbolic gesture to appease the people.

All assets above a certain amount should just be taxed as capital. Including share portfolios and such. If they can be used as collateral for loans ans such it should be taxed just like real estate is for normal people.

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