I actually disagree with a straight wealth tax, I believe the approach of adequately taxing the wealthy needs a more two pronged approach, which I happen to have pitched already, so I'll just copy paste that comment here to explain what I think will work instead:
I believe someone suggested loans collateralized on stock and other such speculative assets be taxed as realized gains, which should go a long way to stop the absolutely mindbogglingly obscene displays of mega wealth we've been seeing as of late.
As for income, there should be nominal brackets established at the 20th, 40th, 60th, 80th, 95th, and 99th percentiles of income for a given year, with 20th, 40th, and 60th percentile income taxed at the percent of national wealth each of those brackets owns, income in the 80th and 95th brackets being taxed at twice their respective shares of the national wealth, and income above the 99th income being taxed at three times their share of the national wealth. Then have a half a percent multiplier for every multiple of twenty times the median income of the 0-20 percentile bracket an income crosses.
Doesn't just tax the rich, it directly makes it their class interest to spread the wealth to lighten the crunch on their top dollar. The rich literally can get their own tax cuts by sharing the wealth.
It actually even incentivizes the ultra rich to police each other since one of them building up the riches too much hits all of them, meaning the rich will be eating each other whenever one of them steps out of line!
61Can somebody please fix the bar scales? Nothing corresponds to anything else, and as such the difference between "millions" and "billions" is indicated by just 1 letter. Not to mention, there is no source for the data or indication why their rates are different (3.05% for Musk and Bezos, 0.309% for Gates).
43I personally really hate the term "pay their fair share" because if it's implications. I would much rather hear something like "pay like the rest of us" because it's about percentages, not actual dollars.
17The only gripe I have with this is settling for billionaires paying ‘their fair share’. That would have been acceptable if they paid that while hoarding these unimaginable levels of wealth.
At this point; the amount they should be due to pay should be punitive - to discourage anyone from attempting anything similar in the future.
16Bill Gates looks like a loser with his 372kk compared to other guys.
7How about leaving them with a billion? That's way more than they need.
6Just give their wealth to the workers they exploited to gain it.
6This is a much nicer version of the same meme I put up here last week (not complaining, it really does look nicer).
4Fuck the "fair share". Seize their stupid asses away from under them. Followed by the means of production.
4Permanently Deleted
3Look, our politicians are bought and paid for so I'm going to suggest something unorthodox here: we get the blood boys to float the idea of a wealth tax with these people.
A man's never as vulnerable and open to new ideas as when he's siphoning the life force from his best blood boy.
'Open veins open brains', as they say.
3Bezos looks kind of like Putin in that pic.
3This chart is bullshit. Scale the taxes owed the same as the money remaining so we can visualize what a fuckall pittance it is in comparison.
1While I agree with the sentiment it's worth noting that this wealth isn't usually liquid. It's tied up in other assets. Like shares in companies. Liquidating those shares to pay a wealth tax will also dilute their influence in those companies. Not to mention liquidation comes with additional taxes.
1How many times a month do we repost this meme and it gets a lot of controversy every single time?
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