Wealth of Elon Musk
2012: $2,000,000,000
2023: $248,800,000,000

Wealth of Jeff Bezos
2012: $18,400,000,000
2023: $160,900,000,000

Wealth of Mark Zuckerberg
2012: $17,500,000,000
2023: $105,200,000,000

Federal Minimum Wage
2012: $7.25
2023: $7.25

Three words: tax the rich.

@Strandjunker Tax everyone, why "the rich" ? The problem is that "the rich" is too vague, to ambiguous of a term, where do we set the threshold ?

Make it just, make it correct, so that everyone can get behind the idea !

Tax everyone, a just and fair percentage, and that way, nobody can complain they are taxed too much, or more than the next person. Only way to get everyone to agree !

@prolamerdude @Strandjunker the non-rich are already taxed pretty well
@potpie @Strandjunker That's a part of what I mean. Everyone should be taxed the same ! No more unequal treatment, where some are taxed already a lot, while others are not. The only fair solution would be the same percentage tax on EVERYONE !

@prolamerdude @potpie @Strandjunker

So Muskrat gets to pay the same tax as a immigrant labourer doing stoop work in fields? That is fair how?

There is no justification of any kind for any single person having a billion dollars of wealth.

Any out the top 20 riches men (its always men) in the world could use billions of dollars to, for example, end world poverty and still be insanely wealthy. They don't, they build penis space rockets, bigger and bigger yachts and ruin social media sites.

Its not taxation that's needed. Its appropriation of funds and assets. If billionaires wont use their money for good we take it from them.

@robcornelius @potpie @Strandjunker I don't understand almost any of the reasoning behind your ideas.
They don't pay the same, since the same percentage would translate to immensely different net value, based on the net income of each person. For example 25% of a billion dollars, compared to 25% of 50000$
But it feels to me that if everyone paid the same percentage, it would be fair. In my example, everyone would pay say, a quarter of all their income for the functioning of society.

@prolamerdude
why do you believe that Progressive Tax is bad?

It would only make sense if everyone paid the same percentage of taxes and also paid for everything at the same percentage of their wealth. For instance, imagine if those with lower incomes paid $1 for a burger, while billionaires paid half a million dollars for the same item. What do you think about that?

@tsungi @robcornelius @potpie @Strandjunker I don't think it's bad, but rather I cannot wrap my head around how it can be seen as fair. I'm still trying to figure this all out, I'm sorry if I maybe don't express my opinions too well yet.

In the example you gave, that would mean having more wealth poses absolutely no advantage. The idea of say, for example, my parents sacrificing going on vacation, in order to save for a better life later on, would mean nothing, because everything would [...]

@tsungi @robcornelius @potpie @Strandjunker [...] be more expensive afterwards, just because they saved money.

So what good would that do ?

The idea with taxes, in my view, is that we all have something to gain from a well-functioning society : infrastructure, education, healthcare etc. So we should all give back towards society, the same amount, percentage-wise. For me, it's like saying "Thanks to this society, I have earned this much, so I give a quarter/a third of my income [...]

@tsungi @robcornelius @potpie @Strandjunker [...] towards the betterment and the maintenance of this society".

This is how I see taxes, basically.

If a burger costs 10 times more when I have 10 times more savings, for example, I have absolutely no incentive to save money. Or to invest. Or to do anything else other than spend my money as soon as I get my salary.

That sounds very simplistic and would never work in a real, functioning society composed of normal people, at least I can't imagine

@prolamerdude
as you mentioned in another thread that everyone should contribute back to socieity. I would understand it as that everyone should also take responsibility for the common good (our environement or just burgers as example lol).
But what percentage of this responsibility for the common good should everyone bear? (It sounds somewhat akin to the concept of Individual CO2 credits.)

There are also a lot of concerns.
For instance, how do the wealthy tend to get even richer? Is it through hard work, or do they take advantage of those less fortunate and shift environmental problems elsewhere?
Why is it that someone with capital can generate even more wealth, while an average worker often has little to save after paying for rent and food?
Do you believe that "smart" individuals deserve to be rewarded with more wealth, even if many of them may do more harm than good to others (how about speculation on real estate? and poors get poor)
In your non-progressive tax idea, do you think there's a need for basic income or a minimum threshold?

maybe you have anwsers and I would be very interested in it.
Your idea sounds like someone who already possesses substantial wealth and keeps safeguarding their assets without knowing how poor the majority are. This situation is somewhat analogous to individuals in developed countries critiquing overpopulation in third-world countries and urging them to contribute /the same/ percentage of sacrifices to address climate change.

@tsungi I think this is one of the most interesting replies anyone gave me.

I cannot write messages that long (how did you do it?), so I'm going to write everything and break it down in multiple conséquent replies.

Firstly, a bit of background on me so that we can skip assumptions on a personal level : I come from Romania, our parents were low-middle-class, started from nothing, they both used to work two jobs when, I used to only see them at night around

[...]

@tsungi [...]

11pm or so when they got home, in order to save money in hopes of havin a better future.

We emigrated to France around 13 years ago, and as wedidn't have enough money, I used to look in bins for things people threw away that were still good. That's basically where I come from, I had some dark moments.

I worked during my studies (never had any government help, but that's because of myself, I didn't know that concept existed since it doesn't exist in Romania,

[...]

@tsungi [...]

so I never applyed for it), evenings and week-ends, finished 6 years of studies, with 2 bachelors and a Master's, and have been working on my own ever since I was old enough, basically. Have had a period of 10 years when I only saved and never went on vacation, because that's what my parents taught me, that's what they sacrificed their lives for, so that we could have a chance at a better life.

I'm writing all this, not for anyone

[...]

@tsungi [...]

to feel sorry for me or in the concept of "I had it hard so other people can do it too", but just so that I can explain to you that I'm not rich nor come from a rich family. I value hard work, saving, and living in a country where government is not corrupt all the way to its core and where if you work hard enough, you have a real chance to live a good life.

And regarding my current situation, I am currently in my thirties, I am probably lower middle class

[...]

@tsungi [...]

here in France, and have no urge to become rich; I only wish to live a tranquil life and to become self-sufficient, little by little.

I have a small amount of money put aside, and have been learning about how to best use that money in the future, how money works, how financial markets work, how to not fall in financial traps etc. I would love to be able to use that money for good in the future. So that's one of the reasons why I consider saving a good thing,

[...]

@tsungi [...]

and why I cannot comprehend people that talk about a "wealth tax", it seems so backwards to me...

So this is me.
Now, onto the points you made.

Yes, I agree that everyone should contribute back to society : anyone that earns even a single dollar, does so in part thanks to the fact that we have a functioning society (there are exceptions but let's say 99.9%) : simple example : if there was no infrastructure, absolutely nothing can

[...]

@tsungi [...]

function, no companies, no jobs, no nothing.

And I think, (again, in my very simplistic point of view) that the most fair way to express that contribution, would be a certain percentage of what you earn.

Now, that would not necessarily imply that "everyone should take responsibility for the common good", that is a different, more complex issue, at least in my view. What do you mean by the common good ? Who decides what that is ?

So that is absolutely not what I meant.

[...]

@tsungi [...]

I meant it more like a duty, or someone "owing" something in return for the very functioning of the society, which allowed them to earn value through their work or their company etc. But I didn't equate that to a "responsibility", neither did I relate the concept of "common good". I believe every person only has a true "responsibility" towards their children, parents, their family, basically. That comes before all else.

[...]

@tsungi [...]

But "common good" is a vague term and I don't think it should be pushed or forced upon anyone unless they wish for it willingly.

Individual CO2 credits are another, very complex issue. I don't have enough of an informed opinion in order to comment on that; there are an enourmous amount of questions that I would need to find an answer to, before cristalizing a definitive point of view on that. For example, who decides what a "credit" is ?

[...]

@tsungi [...]

Does planting a tree give me credits ? Do companies that are forced to use petrol for example, need to pay for "credits", or are the prices of goods and services they offer simply going to incorporate those costs ? Who decides all of this ? Would the creation of electric cars be credit-positive, or credit-negative, given how many rare earth metals they use ? And a whole list of other questions ...

[...]

@tsungi [...]

"How do the wealthy tend to get even richer ?" That is a high-level question, which is more like analysing a sympton, rather than the root cause of something. If you accept that people can invest capital, the result will be, some wealthy people will get even wealthier. But that is because you accept that some companies for example, in order to succeed, need to use capital at the beginning, for example for R&D, they need capital,

[...]

@tsungi [...]

a "rich person" will risk their capital in hopes of earning a return on that risk, knowing they may lose it all,and thanks to that capital, thanks to the risk they took, a company will be able to (hopefully) be born, give work to a few (or many) people, create a new service or product, and in the end, bring more value to the world and to the market. That is how it should work, at least. If you want a functioning economy,

[...]

@tsungi [...]

investment (and the risk and benefits it comes with) has to be a part of that.
One consequence is some of the wealthy people getting wealthier. Some of them can lose everything. But I don't see any other fair alternative for now.
Do you ?

Do I believe smart individuals deserve to be rewarded with more wealth ? No, I don't think anyone "deserves" to be rewarded with anything. We don't get "rewarded" what we "deserve" except for little children.

[...]

@tsungi [...]

I think we all get from the market the value the market considers we are worth. The perceived or agreed upon value of what we put forward, by the market, is what we usually tend to get. Again, there are exceptions, surely. But that is the case usually.

"- even if many of them do more harm than good (how about speculation on real estate?)" - this is a tricky one. First off, if someone does more harm than good, that's vague and I would need an example to

[...]

@tsungi [...]

be able to comment; if the example is real estate speculation : this is one of the few subjects that I am very on the fence about. I have read a bit about Pierre-Joseph Proudhon, and his famous quote "Property is theft". I think real estate is one of the few things we can easily consider finite in terms of a free market. And even though sure, if rent is too high or prices are too high in an area, you can move, but that's difficult, would be hard for some people

[...]

@tsungi [...]

(as I know all too well) etc. And I'm not sure how to think about it. The thing is, I consider everyone should be able to buy and have property, but physical land is finite, and if all land is already bought, you are at a disadvantage through no fault of your own (being bord 200 years later for example). So I don't know how to answer to that.

Do I think there's a need for basic income ? It might surprise you, but I

[...]

@tsungi [...]

absolutely think the idea of a universal basic income is VERY interesting. I consider that we have come very far as a society, and as civilized as we are, the next logical step towards our own evolution, would be to do the most we can, in order for our fellow humans to avoid starvation, avoidable death etc. So yes, I think UBI is the way to go. And I mean true UBI, not like welfare programs; universal, meaning EVERYONE gets it, no matter the rest of their income.

[...]

@tsungi [...]

Of course, I have no idea how to answer to a few issues, like how toavoidr inflation simply increasing to accommodate the new income, etc. But I think we should still try and find a working solution for this.

I'm sorry for the long thread. I hope I answered at least some of your questions.

What do you think about my views ? My ideas ?

Where am I wrong or where should I seek to improve ?

Thank you again for your reply. :-) Have a great evening !

@prolamerdude wow, a lot of thoughts! thanks for your sharing!
To be honest I did not really have a completely clear idea to formulate my previous reply and definitely I could never anwser those real-life questions. Your thoughts are valuable to let me think further.

I prefer equity over just simple equality :)

@tsungi Thank you !!!

Yes, I stumbled upon this image when trying to understand the difference between equity and equality.
I don't know what to think about it, to be honest...
I mean, of course, my first reflex is to say equity is better. But I have afeeling that the image is too simple of an example, and should not be used as a filter through which to judge all the other real life, much more complex examples...
Yes I would love for everyone to be happy. But how can that be done, fairly ?

@prolamerdude For sure, there is not just black and white, and the real world is much more complex. Back to the original debate about 'taxing the rich' (more precisely, taxing the rich more!). It is just a simplified idea to possibly achieve better social equity.
To be honest, I don't believe it would work. The rich have just too many tricks to offset any extra taxes. It is already a built-in failure in the system we are living in.
That is why many people suggest a radical change.....

@tsungi I think I understand the concept, but I still have a difficult time accepting the idea because of how it would feel "unfair" to me.
I agree that loopholes should not exist, but they do because of the corrupt politicians that let their donors get away with it. That should be very severely punished, imo.

But staying on track : what would "social equity" be for you ? Why is it desirable ? I mean, my first reflex would be to say it is good, too. I wish everyone a good life. But in what [..]

@tsungi [...] way would it be achievable without negating, for example, incentive for growth ? Or hard work ?

I think "equal opportunity" is infinitely more desirable than "equal outcomes". What do you think ?

I personally don't even like to think about the outcomes; I think concentrating on a floor, a minimum living standard, and not caring about the ceiling, letting people earn as much as they can, reach their potential, is the best view we can hold. What do you think ?