Robert ReichBy the way, a tax of up to 5% on the world’s multi-millionaires and billionaires could raise $1.7 trillion/year.
That would be enough to lift 2 billion people out of poverty and fund a global plan to end hunger.
We can't afford NOT to tax the rich.
OGJester has moved@rbreich taxing 100% of all personal wealth that exceeds one billion dollars would erase a third of the nation’s debt - ten trillion dollars - overnight... and all those billionaires would still be billionaires.
No one person should have more than a billion dollars.
ex or current IDF unwelcome@JohnLoader6 @rbreich the thing is, they can’t take their land/property with them. They can’t escape expatriation taxes (which are huge when you have that much money). They can’t liquidate stocks or bonds without paying taxes on them. We could solve a lot of societal problems if we got past the myth that we can’t tax these people.
@JohnLoader6 @rbreich I guess if we elect people who allow that to happen, then we kind of deserve it.