With an Autopen…

I guess they are not smuggling drug because if you actually smuggle drugs Trumps pardons you…

It’s ok to kill people without trial for drug dealing but if you get convicted for large scale drug dealing then you’ve been treated very harshly and Trump will pardon you. My head spins .

Starts with a T and and ends with a p.

And the the Trump family in the first place among those businesses.

I’ve said that to avoid discontinuities you need to not have bands that pay a fixed amount but rather a tax that is a % of the property value. That works if you apply from a certain level or universally from zero.

So why did you say I want cut offs when I said the opposite?

Even if you think so doesn’t change that the implementation is terrible and it’s not exactly difficult to make it much better.

I’m not sure you are understanding what I’m saying.

I’ve never said I want or not.
I’m only talking about the proposed implementation as far as we know it and how it is not well designed in terms of either economic efficiency or fairness.

You charge a % (say 0.3%) above your desired level (say 2M)
Then it is continuous and there are not jumps. So a 2,050,000 only pays 150£ more than a 1,999,999 and by the time you are at say 3M is 3,000 so it is roughly in line with the expected tax etc.

Second. Doesn’t take mortgages into consideration. You have more house wealth if you have a 1.9M house mortgage free than a 2M with a 500k mortgage, but the later will pay and the former won’t.
Third. Why a cap? Makes no sense that a 10 or 20M house pays the same as a 5M house.

Host of reasons but the most important are: it has cliffs. A house of 1,999,999 pays zero and a 2M house pays £2,500. That is obviously arbitrary, creates price bunching and also fails any test of fairness. You solve that by taxing some % amount past 2M. Likewise with the other bands.

Or this one www.latimes.com/california/s...

www.politico.com/magazine/sto...

Basically the whole history of the USA is a proof that he is utterly wrong.

You are right was looking at the 0.85% one. Didn’t know they issued a zero coupon one as well!