3 ms·
I'm not sure what are you trying to say. Do you agree with AOC or not?! A tax rate of 1000% won't result in "fewer billionaires" as 0 of the top 10 (and approx
by tomp 8y ago
I'm not sure what are you trying to say. Do you agree with AOC or not?!
A tax rate of 1000% won't result in "fewer billionaires" as 0 of the top 10 (and approximately 0 of the top 100 I guess) billionaires made their wealth through salary. It's almost always either entrepreneurship or inheritance or marriage or more multiple of these. Taxing income won't change that.
AOC's suggestion is a cheap political play that encourages the low-vs-middle-class adversity and might win her some votes, but really most billionaires would applaud it, because, again, they'll escape unscathed. She can't suggest taxing profits/capital gains/inheritance/trust funds of course, because then she'd make enemies of actually powerful people.
- DFHippie 8y ago>She can't suggest taxing profits/capital gains/inheritance/trust funds of course, because then she'd make enemies of actually powerful people. Maybe you're right, but I very much doubt it. I'm at work, so I don't have more time to research it, but I'd be willing to bet AOC will or has suggested increasing taxation on at least capital gains and inheritance. These are commonplace suggestions from the center to the left.
- tomp 8y agoWell I sincerely wish they pull it off (not just cosmetically of course, but in a way that prevents all tax avoidance) but I also sincerely doubt they can.
- scrollbar 8y agoI agree it’s a political play. It’s not enough, we need to address tax loopholes, capital gains, offshore tax havens, etc. The spirit of her comment- that billionaires and poverty should not coexist in our current society- I believe is clear, and my comment holds in supporting it.