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Do you agree with this?
This is like walking onto the floor of the NYSE and asking if people agree we shouldn't raise taxes on billionaires. Straight-up cheap engagement bait – which I'm contributing to, but at least not in a way that's intellectual empty carbs.
Literally of fucking course everyone here agrees, OP, and you obviously know it.
Literally of fucking course everyone here agrees, OP, and you obviously know it.
I thought so, but I'm not so sure you do.
What if we just make it impossible to make a billion dollars? Anything over say 5 million dollars gets taxes progressively higher rates until it's a 100% tax rate at 10 million dollars. No billionaires and less money in politics. Or there's the other way to get rid of billionaires..
They become billionaires not by receiving income directly, but by holding assets that appreciate in value. A progressive income tax isn't going to do it. We will need some variety of wealth tax. The major criticism against a wealth tax is that their wealth is in stocks, and a tax would require them to liquidate their shares in order to pay the tax. That would crash the market.
Which is why we should just tax the shares directly. Take the shares. Send them to an IRS liquidator, who can sell them off slowly, such that liquidated shares never comprise more than 1% of total traded shares. The sale of those shares won't have a significant effect on market value.
It might take years or decades to liquidate what they collect, but over time, such a tax will drive stock ownership away from the ultra rich and toward the working class.
Will he cut the Pentagons budget put the American bourgeoise on trial and leak all the fucked up shit american intelligence agencies have been up to the last 30 years?
Someone explain to OP the actual problem with billionaire lobbying, and elasticity.
I'd use that check on gender affirming care.
Where would the money come from to tax the wealth? Are the billionaires going to have to offload assets? Then who is buying them?
No. It's a stupid idea. A one time check isn't the benefit it seems. The money should be used for genuine universal healthcare and affordable housing.
