this post was submitted on 27 Apr 2024
720 points (96.3% liked)
Political Memes
5501 readers
2289 users here now
Welcome to politcal memes!
These are our rules:
Be civil
Jokes are okay, but don’t intentionally harass or disturb any member of our community. Sexism, racism and bigotry are not allowed. Good faith argumentation only. No posts discouraging people to vote or shaming people for voting.
No misinformation
Don’t post any intentional misinformation. When asked by mods, provide sources for any claims you make.
Posts should be memes
Random pictures do not qualify as memes. Relevance to politics is required.
No bots, spam or self-promotion
Follow instance rules, ask for your bot to be allowed on this community.
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Depends on scale.
At the scale of a property tax, might be ok. Or at least more fair, I'm stuck being taxed on my house which is most of my net worth, so...
At the scale of an income tax, or as frequently demanded an extreme income tax at like 90%, then yes, it would explode, fall to produce desired revenue, and take down most retirement funds with it.
Yep, that's the issue, most people ITT want the second part of that. They don't understand how destructive it would be to do a tax like that.
Of course, in the wrong thread you get branded as some billionaire defender, when you are trying to explain that it's fine to go after them and they do enjoy having way too much actual money, but any strategy to make it fair has to be smart and workable rather than going after an extrapolated number of dollars that don't "actually" exist. It's true that it's all imaginary is an oversimplification when they clearly lead lives of intense wealth, but have to recognize the degree to which that claim is true. So take that into consideration and advocate things like covering unrealized gains as collateral in a better tax system, or a property tax level rate on unrealized gains (though even then, have to tread carefully. Most property has an intrinsic use and the tax burden has been priced into the market for eternity, for a more purely financial vehicle previously not subject to a tax, might have unintended consequences).
Yup, this meme keeps getting reposted over and over like its something super intelligent...when in reality it's someone who has no clue how our economy works at all.
Well, as presented it's not totally out of reason, it sticks to a fairly modest percentage.
The real problem comes in when the pitchforks say '2%?!?!, it should be like 90%!!!!'
Yep that's the issue. People don't realize that they have to sell stocks which in turn is going to have a completely destructive action on people's retirements, when the stock market goes tits up from stocks being sold in mass quantities to cover a 90%