I’d argue there should be a flat out cap on wealth. Nobody should have 500 billion dollars. Not sure what it should be, but somewhere under 500 billion.
There is a reason every country that’s tried a wealth tax has abandoned it (or neutered it to the point that it’s primarily the burden of the middle class, completely defeating the ostensibly-stated purpose of getting more money from the wealthiest), learn some world history.
How tho?
I’d argue there should be a flat out cap on wealth. Nobody should have 500 billion dollars. Not sure what it should be, but somewhere under 500 billion.
You can have a soft cap with higher taxes as wealth goes up.
To name a few:
All come with some serious downsides of course.
or to sum it up: socialism
Tax wealth.
Turns out that technically they don’t have wealth, just a lot of loans with paper assets as collateral.
No. Leave my IRA and 401k alone.
There is a reason every country that’s tried a wealth tax has abandoned it (or neutered it to the point that it’s primarily the burden of the middle class, completely defeating the ostensibly-stated purpose of getting more money from the wealthiest), learn some world history.
Are they worth over $10M? I mean $0.01B…