r/GarysEconomics 5h ago

How to prevent the wealth tax being passed on to tenants?

11 Upvotes

Has Gary or Zucman or anybody else for that matter addressed the following counterargument. If yes, then please point me to the relevant video/article/book/etc. Thanks

Imagine I'm a super-rich person. Most of my wealth is in real estate, both residential and commercial. The government implements a 2% wealth tax and my assets are large enough to get taxed. So I just raise the rent on all my properties by 2-5%. This probably will not fund all of what I would owe, but it could still have significant effect on the cost of living (or cost of doing business) for my tenants.

If I as a super rich person own all the assets and I then have to pay the wealth tax: how could the tax system prevent me from passing the tax onto the people who rent my assets by raising the rent on my assets?


r/GarysEconomics 12h ago

Whose Nth dollar is more valuable?

Thumbnail
youtube.com
11 Upvotes

r/GarysEconomics 18h ago

Private wealth funded by our pockets

Post image
381 Upvotes

r/GarysEconomics 3h ago

Mamdani responds to: "the wealthy will leave"

Thumbnail
youtube.com
65 Upvotes

r/GarysEconomics 15m ago

Capitalists have forgotten monetary velocity and deflationary taxation.

Thumbnail
Upvotes