Subject: Re: Buffett’s view on current account deficits
Never heard that. Property taxes are a form of wealth tax, including the portion of an auto registration fee that is based on the value of the car. The estate tax is a form of wealth tax.

It is a grey area. The constitution forbids "direct taxes" which many people believe would preclude wealth taxes. But the states are not bound by this requirement, hence property taxes.

Estate taxes are a transfer tax, and technically paid by the heirs of the estate.