@anna_lillith

Robust fair taxation is necessary to democracy. Also, and here's the SECRET, it creates a ROARING, wealth building, wage rising, unemployment destroying economy. A economy so RICH it can afford to STOP CUTTING CORNERS, and make products that arent pollution increasers, afford to repair damage caused by extraction, pause to listen to concerns.

FDR, Truman Eisenhower did it. Biden is doing it.

We asked for fair taxation.
Biden taxed the untaxed a trillion dollars, and it works,

@anna_lillith I think a cutoff of 20mio should be fine for having a good life. No private jets, no car colletions, no superyachts.

999mio enable too much political influence, and too much toxic behaviour a.k.a. pollution.

@anna_lillith Agreed; the numbers are open for discussion, but this is one side of #DoughnutEconomics.* The other side is support for the least wealthy; caring for the natural environment is in there too. Wins all round, I think!

* Or #DonutEconomics, if you prefer.

@anna_lillith More like 5 or 10 million, and that applies to the sum of all assets, not just cash. Plus a similar limit on companies that also includes all of their subsidiaries.

Also make any attempt at hiding money in extraterritorial or tax-exempt bodies (e.g. Foundations) punishable like murder.

@anna_lillith That lid is way too high.

One Life. You get what you can produce, not what you can extract from many other people. So the lid is somewhere around ten times the lower of mean or median for annual income, and fifty times whatever that income cap happens to be for assets. (If you work from 20 to 50 at the maximum and somehow keep it.)

And if you go over, you get liquidated and keep nothing. (And the state doesn't keep it, either. It's gone.)

@anna_lillith

Seems similar to https://berniesanders.com/issues/tax-extreme-wealth/

@anna_lillith

999 millions is already way too much. There should be a vital minimum for all allowing everybody for living no matter what, a minimum salary for those working and a maximum wealth indexed on it (even 1 or 2 life-time of it to stay on a human scale wouldn't be as large). Passed that, the amounts are just delirious, nobody should be able to take the world and its future hostage. Even less for selfish reasons.