grteLet’s Set a Maximum Wage for the Rich | The Tyee
originaluciferyou dont need a max wage if you tax effectively. it would be 100% past a certain, massive amount.
How does that work when the super rich don’t pay any taxes to begin with? How do you tax wealth? How do you tax loans against shares?
Easy, make capital gains tax match income tax marginal rates.
But capital gains only execute when you sell.
Right. So when they sell, they’ll get taxed. You can’t spend shares.
The problem is that’s basically what billionaires do, though. They take out loans with their shares as collateral. So on paper they have huge debt, but it’s minuscule compared to their wealth.