3 ms·
> Tax the shit out of the ultra-rich and spread it around. That would be great but think of the difficulties. Firstly, which politicians would support it? Most
by davidreiss 9y ago
> Tax the shit out of the ultra-rich and spread it around.
That would be great but think of the difficulties. Firstly, which politicians would support it? Most politicians spend their time fundraising ( begging the wealthy for money ).
https://www.theatlantic.com/politics/archive/2013/06/the-humiliating-fundraising-existence-of-a-member-of-congress/277227/ https://www.theatlantic.com/politics/archive/2013/06/the-hum...
Can you imagine the future of such politicians?
Especially now that corporations can donate as much as they want?
https://en.wikipedia.org/wiki/Citizens_United_v._FEC https://en.wikipedia.org/wiki/Citizens_United_v._FEC
Secondly, the ultra-rich will simply move money/assets offshores in hidden accounts. A lot of them already do that to avoid paying taxes. If it were to increase, a lot more money will go underground.
Thirdly, citizenship is something that can be bought and sold in modern society. The ultra-rich will buy citizenship in countries with lower taxes and simply move their companies/assets there. Look at what the pharmaceutical industry has been doing the past 10 years.
https://en.wikipedia.org/wiki/Tax_inversion https://en.wikipedia.org/wiki/Tax_inversion
The problem is that the international world order is corrupt and the wealthy write the rules/laws. Even if there was a raise in taxes, they would add a loophole for the wealthy to bypass it.