Why is a tax on bank deposits any worse than a property tax?Submitted by jetguy on Sat, 03/23/2013 - 12:49
Let me mention right up front of course, that as a fiscal conservative and a Liberty Movement Republican, I am against ALL taxes - except as to provide for those government functions mentioned in the Constitution.
But having said that - WHY are people making such a big thing about confiscation of a portion of one's bank account by the government? Assets such as cash are a form of property, just like real estate is. People are taxed a portion of the assessed value of real estate all the time.
I think that taxing one on real estate is wrong on principal of course - but how is this any different than that, based on principal?