prosp3kt
Mandu 🥟How would one go about getting this added to the Constitution? Asking for a nation.
stevenray@yurnidiot put it on the ballot instead. Sure to pass.
Mike@yurnidiot First you gotta do something about billionaire behavior. It's a chicken and egg thing 😆
lateralus_kitty@Subumbral @yurnidiot we need to somehow tie power to empathy.
Alan@lateralus_kitty @Subumbral @yurnidiot Wasn't there literally a study demonstrating that power cripples empathy?
@ln @Subumbral @yurnidiot I wouldn't be surprised if that study focused on Western practices. But the Blackfoot Native American society accomplished this it was part of Maslow's research on the hierarchy of needs. Here is the article if you want to read it but the important bit is in the screenshot. So yes it is possible but it would require a divestment from Western culture and probably capitalism overall. https://www.resilience.org/stories/2021-06-18/the-blackfoot-wisdom-that-inspired-maslows-hierarchy/
@yurnidiot this is pretty good
A realistic alternative is to make some new tax brackets. I’m thinking something like 50% @ $1m; 70% @ $10m and 99.9% @ $100m
This is not far off from what we had back in WW2 timeframe.
Simon@yurnidiot call it the 'patriotic freedom law'. Then the senators would have to say that they're against the patriotic freedom law. And they'd never say that.
Full Metal Archaeopteryx@yurnidiot
The first step: reverse Reaganomics
Make stock buybacks illegal again
schamspeare@yurnidiot I would get behind this proposition with 100% seriousness.
StarkRG@yurnidiot I've been suggesting this for *years,* though perhaps I should have marketed it better. I called it a wealth tax, as in, once someone has above a certain wealth, I suggested $500m, all income is taxed at 100%. I guess some people have a visceral reaction to the word "tax" because I got some pushback on it from people who are unlikely to ever see even one million. 🤦
congusbongusgames@StarkRG @yurnidiot good observation that it’s basically a 100% wealth tax. Unfortunately it may create perverse incentives, like people at the cap consuming unlimited champagne and caviar because it’s basically free, so at best it’s an extremely inefficient and wasteful wealth transfer. Most wealth taxes in practice and in proposal are quite modest, like 1% of wealth taxed annually.
@congusbongus @yurnidiot Income below the wealth cap would still be taxed at normal, progressive tax rates, so staying below it wouldn't exactly be a free ride. I don't think it matters how they stay below the cap, as long as they don't have the power that having a massive amount of wealth provides. I'm also using the term "wealth" very deliberately, I'm not just talking about cash on hand, but the total value of everything they own.
@congusbongus @StarkRG @yurnidiot That's not a thing that happens. That's not how billionaires operate. We need to stop buying into the "capital flight" myth. You can literally make it more expensive to circumvent taxes than to pay them.
🏳️🌈🜏Technomancer🜏🏳️🌈@yurnidiot , my cap is a lot lower. Who can't live well beyond their dreams with like... let's say $25M?
Stu Duerson, machina exo deus
Ángela Stella MatutinaJust dog parks? Hey, go wild, regular parks and streets too. Whatever it takes within reason (no hospitals, no schools and definitely not "chairs".)
Breathe@yurnidiot I'm with you 100%.
TopKnotVery good. Thanks for sharing.
yoused@yurnidiot Honestly, money is like guns: it makes people stupid. Just implement a 100% tax bracket over $25M, with no write-offs for "philanthropy" or anything else. $25M is super-comfort level – beyond that is just poer-seeking.
tekhedd@yurnidiot and the dog park will still be a fenced dirt square with no shade. 😔
Dagnabbit, Pascaline! 💥@yurnidiot
😊 I suggested that a loooooong time ago, but no one wanted it then. Times changed and still no one wants it, but things are slowly shifting, so: who knows? Would be fab, right? Better yet (my dream): a world without money, based on a merit system where everyone gets everything for free and people who do good get benefits, where rare objects, say, diamonds are worthless but people who do good for society can have them, that kind of stuff. There is a lot more but I am in bed and tired 😊
😊 I suggested that a loooooong time ago, but no one wanted it then. Times changed and still no one wants it, but things are slowly shifting, so: who knows? Would be fab, right? Better yet (my dream): a world without money, based on a merit system where everyone gets everything for free and people who do good get benefits, where rare objects, say, diamonds are worthless but people who do good for society can have them, that kind of stuff. There is a lot more but I am in bed and tired 😊
Pamela@yurnidiot Sounds like a fabulous idea!
Mnemonicman@yurnidiot Sounds good but if I win Capitalism I would like a cat cafe named after me. I like cats and coffee more than dogs. Still like dogs tho.
gmthor@yurnidiot can we add a sentence along the lines of.
Limit is automatically adjusted by the minimum wage rise?
I would love the rich to have an incentive to raise the minimum wage
David B. Himself@yurnidiot What about other nations? Can they have billionaires ?
Phil Höfer@DavidBHimself Sure, but our schools, health care and other public amenities would make it quite attractive for them to live here as millionaires.
@phoefer "our schools"?
My reply to OP is mostly to underline how they consider their country as the only one that matters, and I guess you're going on step beyond, assuming your country really is the one one that matters to the point you assume we're all from that country. Or am I misunderstanding?
My reply to OP is mostly to underline how they consider their country as the only one that matters, and I guess you're going on step beyond, assuming your country really is the one one that matters to the point you assume we're all from that country. Or am I misunderstanding?
@DavidBHimself You're right, I was assuming this to be a hypothetical scenario where we're all in the same country (I know we're not) because I find that to be the best context for discussing policy changes. It's how I understood the original post.
I understood your post as pointing out that billionaires would just move to a different country and I wanted to make a case that there are arguments against that.
I understood your post as pointing out that billionaires would just move to a different country and I wanted to make a case that there are arguments against that.
Harshal Suryawanshi 🇮🇳@yurnidiot
I think it has been ingrained in people that money equates to happiness. If we pause for a moment to think, what everyone really wants is to be happy. Money is absolutely necessary to have a happy life, but at 999 mil, it is just a large number and people should just focus on being happy rather than growing that number.
I think it has been ingrained in people that money equates to happiness. If we pause for a moment to think, what everyone really wants is to be happy. Money is absolutely necessary to have a happy life, but at 999 mil, it is just a large number and people should just focus on being happy rather than growing that number.
OddMinus1@yurnidiot I'd love it, but there is a problem which is evident in Norway: billionaires emigrate to countries with more favorable tax laws. Those countries are very happy to welcome wealthy billionaires, as they can extract a decent amount of tax money, even if they don't have nearly as high tax requirement as Norway.
So thia law would effectively deport a lot of billionaires, ensuring that they won't leave any money at all for the state.
Jan@yurnidiot I'd consider $999 million too high. Also there should be a income tax of 100% for every dollar earned after 1 million.
Moose Jolly Holcomb@yurnidiot honestly you can take one of those 9s away and they'll all be fine, 99 million is a lot of money.
Ehay2kLol. I think you could sweeten the pot a little bit, and offer to name a polo stable after them. 🤣
kJ@yurnidiot Good intentions, however, if the terms are left vague, the usual suspects will get around it.
The "health maintenance industry" is corrupt; education industry is also corrupt.
A lot has to be fixed before trust in government is restored.
Nils Hammer@yurnidiot I‘d like to ask for another nation. (the currency would be Euros)
Lux@yurnidiot @Viss Taxing billionaires wouldn't fix anything. Money is already printed from thin air. They could literally print the money necessary to fix the issues. Instead, they choose to let them rot.
Wulfy—Speaker to the machinesOne of the founding fathers, Jefferson I think, said something along the lines of
"The tree of liberty needs to be watered with blood of patriots from time to time."
So I'm guessing, lots and lots of that.
For the tree.
And liberty.
It would take that.