[PEN-L:4849] Re: Asset tax -Reply

[Patrick Bond <PBOND@xxxxxxxxxxxxxxxxx>]

Interestingly, the Left within South Africa's trade unions tried to
push the "wealth tax" idea to fund reconstruction and development,
but were quickly shot down; instead an additional 5% income tax was
imposed as a once-off in 1994, with other minor adjustments this year
to what is becoming the norm:  lower corporate income tax, relatively
high (and probably rising) sales tax (value-added tax), and rapidly
rising user-fees.

Has the asset tax been tried anywhere?