this post was submitted on 23 Jul 2025
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[–] Aussiemandeus@aussie.zone 2 points 6 days ago (2 children)

So say i own a house and my wife owns a house and we hit the 3 million dollar mark in land value in 40 years,

You think that 95 percent of that should go back to the government rather then or children?

[–] ultranaut@lemmy.world 9 points 6 days ago

Taxes like that typically apply only to money beyond the limit so if you hit 3 million and a dollar you would be paying 95 cents in tax on that dollar only.

[–] hazl@lemmy.blahaj.zone 5 points 6 days ago

Not sure whether it changes anything for you, but I think they're proposing that each dollar past the 3 million be taxed at 95%. Both the 3 and the 95 being spitball numbers, of course. I'm not confident that 3 million will be worth much at all in 40 years anyway.