produnisfair share?
PheganTax billionaires until there are no more billionaires
It’s really insane that we legally treat the tenth billion dollars at the same level as a working persons house or car.
Everything is legally just “property”.
No, fuck that.
The law should protect the first million of every citizen with ferver. (and when we tackle wealth inequality, most people will have this level of wealth at the end of their working life. The fact that most currently don’t is due to inequality. )
Up until 100 million, it should be taxed at a reasonable level. Because at some level, it’s fair that people prefer watching Taylor Swift instead of me sing on a stage.
Above that it should be taxed heavily.
And above a billion, it should be just confiscated. As in, oopsie, our system malfunctioned, you weren’t supposed to end up with more wealth than what a thousand normal people would save up after a whole lifetime of work, so we are taking it back.
The problem is that this wealth is ownership in companies they made. If you start a company and it becomes too successful, Is it right that we really just forcefully take that ownership away from you? Who wants to start a company in a country that takes away your company from you if it’s too successful?
SketchySeaBeast“I won’t start a company because it may be worth over a billion one day and that would only leave me with hundreds of millions of dollars. That doesn’t seem worthwhile,” thought no one ever in your hypothetical.
No, it’s more like
" why start a company when if it becomes too successful it will literally be taken away from me for being too successful". I don’t believe we should be taking away businesses from business owners, do you?
If you’ve gone public with the company yes, you’ve set up the situation where paying your due means giving up some control of the company. That was a you decision. But congratulations you’re worth hundreds of millions. If you find yourself thinking that’s not enough you’re deeply broken and one of the most selfish people in human history, a true 0.01%er.
And again, this is a billion dollar baseline people are talking about. This is the same as people upset about the possibility of inheritance taxes because then they’d only get $10,000,000 tax free. No one is not starting a business because of that, which was your original argument.
It’s one thing to willfully sell some company shares to investors, it’s another to be forced to give up more shares just to pay taxes on wealth because of those shares.
This brings up an interesting point though, let’s say it’s a private company worth billions, where one person owns 100% of the shares, do you force them to sell also?
People may not start a business with the intent to be a billionaire, but if we say that if you make it that far we will just tax you so much you will be forced to sell away your ownership, who would keep their company here when they get close to that? I think it’s telling that many of the most successful worldwide companies are US companies.