this post was submitted on 19 Mar 2024
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Whos take home is 1 billion per year?
So sometimes it's a wealth tax, not necessarily an income tax.
Still, the top 10 billionaires are averaging +$40B/yr. Tap that for 5% and that's $21B.
Here's some things you could afford with that money:
And that's just from 10 people, at 5%, one time.
The top 10 billionaires are not increasing their wealth by 40billions a year. So that's wrong.
Why wouldn't they just take all their money out of America and invest in other countries?
Well, the tin-foil-hat answer is because they make more by investing it here, namely, in politicians. (Like Musk bought Twitter in an attempt to control the national discourse, so he could, you know, help influence who gets elected and make more money.)
It's probably just more profitable here. We're a Capitalist nation. Capitalists are gonna wanna play our game. If you had a giant stack of bills in Monopoly, you wouldn't take a bunch of them over to the Chutes and Ladders table.
What do all men with power want? More power.
Oh god. Financial illiteracy and misandry this is everything wrong with Lemmy.
There is tax avoidance and multiple other capitalist countries. Wealth tax will be exceptionally difficult to implement for billionaires.
Were all just dreamers. The solution is out there.