WEALTH TAX TALK RETURNS WITH EXPOSURE OF BILLIONAIRE TAX RATES. Warren Buffett allegedly pays around a 0.1% income tax rate, but the odds that someone with billions of dollars isn’t going to find a way to avoid a wealth tax are even lower than that. Plus, do we actually care about taxes as a revenue stream any more? At this point we’re just funding everything through printing money, and the tax is inflation. No surprise there; the only way we can possibly pay the national debt is through inflating it away eventually.

Update: To be clear, Buffett’s “0.1%” tax rate was calculated by ProPublica by taking into account unrealized gains in his wealth, not just “income” like the average person gets, though ProPublica points out that they can just borrow against their wealth and avoid ever realizing the gains for tax purposes. Ultimately, it’s hard to imagine any “fix” that won’t end up missing the super rich and hitting the average person somehow instead.