this post was submitted on 05 Jun 2024
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The purpose is wealth redistribution, not financing the State. Ideally, that money would go to a one time expenditure like a tax rebate for lower earners or a stimulus or something. Revenue neutral for the State.
I feel like that almost makes it worse
Even assuming we could just get all the money with no complications, every billion seized this way would redistribute something like 3 dollars to the average american, because there's a fokkin' lot of us.
What'd be better would be to turn that money into a sovereign wealth fund that can be tapped for crisis moments or unexpected budget deficits. Basically as a "fuck you we don't need austerity" piggy bank whenever economic downturn prompts the right wing nutcases to start complaining how things like a functioning government are a waste of money.
Why piggy bank it when there are things right now that could, and would, use the money?
Crumbling road infrastructure, social programs, implementation of better public transit, EV rebates, homelessness programs, library attorney's fees, replacing lead pipes for water delivery systems, forest fire management, employment insurance, boosting food and cash aid for the needy, etc.
Because we currently have money for those things and just aren't spending it on them.
Building up an actual lean time fund for actual lean times instead of engineered poverty that can and should be addressed with what's already there is just good policy, growth is not infinite, and having an emergency fund available to make up differences can significantly smooth over bust times for the working class.