What would you think of the idea as a tax system though, or any similar idea of taxing accumulated wealth rather than income?
I'm afraid my response would be somewhat biased. Any assets of monetary value I had left after the divorce and the going-out-of-business sale vanished in the struggle for survival between college and the time McGuinty got elected so my ODSP could kick in. Though I may be well-off to someone from a third-world country, in Canada, I am the poor.
Wel, in that case, a wealth tax would benefit you, wouldn't it? After all, it would tax your non-essential accumulated wealth. Well, if you don't have any of that, then you're not taxed!
As for me, switching to a wealth tax would benefit me too. I earn a good income, but since I give a fair bit of itaway, I'm 'comfortably poor' (if that makes any sense to you?). So with an income tax, I pay a fair bit. But if it were a wealth tax, I'd pay little.
:-( I had a nifty, full page reply all drafted up, read it, took a deep breath, and realized I really don't give a shlt.