Will the United States pass a federal wealth tax before January 1st, 2030?
Basic
9
Ṁ286
2030
12%
chance

A wealth tax is a tax levied on an individual's or household's net wealth, which includes assets such as real estate, financial investments, and personal property, minus any liabilities. There is ongoing debate in the United States regarding the implementation of a federal wealth tax to address wealth inequality, fund public services, and reduce the national debt. As of September 2021, the United States does not have a federal wealth tax, but the idea has gained traction in recent years due to proposals from various politicians and academics.

Before January 1st, 2030, will the United States pass a federal law that establishes a wealth tax meeting the detailed criteria specified below?

Resolution Criteria:

This question will resolve positively if, before January 1st, 2030, credible news sources, government documents, or the text of the legislation itself confirm that a federal law has been enacted to create a wealth tax that meets all of the following criteria:

  1. Tax Base: The wealth tax must apply to an individual's or household's net wealth, which includes the value of all assets (such as real estate, financial investments, personal property, and any other items of monetary value) minus the total value of all liabilities (such as loans, mortgages, and other forms of debt).

  2. Valuation Rules: The legislation must include detailed and explicit rules for valuing assets and liabilities to determine an individual's or household's net wealth subject to the wealth tax. These rules must encompass various types of assets and liabilities, addressing issues such as fluctuating market values, non-market assets, and intangible assets.

  3. Enforcement Provisions: The legislation must outline enforcement provisions, which include penalties for noncompliance, underreporting, or evasion of the wealth tax, as well as the roles and responsibilities of government agencies in enforcing the wealth tax.

If credible news sources, government documents, or the text of the legislation confirm that a federal wealth tax meeting all of the above criteria has been enacted before January 1st, 2030, the question will resolve positively. If no such law is enacted by the deadline, the question will resolve negatively.

Note: This question focuses exclusively on the passage of a federal wealth tax and does not consider the implementation or enforcement of such a tax. Furthermore, this question is not concerned with potential legal challenges to the wealth tax or its constitutionality.

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