Of course -- taxes should be progressive. But this doesn't address "rich people" evading taxes, it addresses transactions from people from all slices of the socioeconomic spectrum, with a cap that is entirely too low and invasive.
For example: if and when your country goes to pot, and you have a moral obligation to get your family out because we have this perceived notion of borders and sovereignty based on history we didn't agree to, a $3k block on transactions may well block you. We don't have to imagine very hard -- the US withdrawal from Afghanistan is a recent prime example. Social order is delicate.
As a more mundane example, perhaps I purchase an item at auction, art or contents of a storage locker. Reporting burden should be on the records of the facility and subject to occasional audit, not on every single transaction that goes through. That'd be like implementing a carbon toll for every mile that I use a bus, walk with shoes, ride a bike, or use any form of motor vehicle. There are much better ways to do that.
Yet, it still doesn't address the core issue, tax avoidance by the wealthy.
Further, implementing a road tax would require cumbersome monitoring generally (and especially if making it progressive) or, if equally treated, would be horribly regressive.
For example: if and when your country goes to pot, and you have a moral obligation to get your family out because we have this perceived notion of borders and sovereignty based on history we didn't agree to, a $3k block on transactions may well block you. We don't have to imagine very hard -- the US withdrawal from Afghanistan is a recent prime example. Social order is delicate.
As a more mundane example, perhaps I purchase an item at auction, art or contents of a storage locker. Reporting burden should be on the records of the facility and subject to occasional audit, not on every single transaction that goes through. That'd be like implementing a carbon toll for every mile that I use a bus, walk with shoes, ride a bike, or use any form of motor vehicle. There are much better ways to do that.