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What's stopping Billionaires from donating to the US government right now at whichever rate they think is fair? There's an extra field for this on the tax retur

What's stopping Billionaires from donating to the US government right now at whichever rate they think is fair? There's an extra field for this on the tax return document. Lead by example, etc. If you're going to downvote me, please explain why. I'm honestly perplexed.

martin-adams 7y ago
My guess is that they want to level the playing field for the super-rich. If all are taxed, they feel it's even, if they give up their wealth, it weakens their ability to remain in the club. On the flip side, they may have a sense of responsibility to contribute more, but no gauge of when the contribution is enough. If the government makes that decision, then they resolve themselves of making the judgement.
objektif 7y ago
I think we should stop making this argument when we debate increasing taxes. It is about systematic change of tax code on wealthy class not at individual level.
lvh 7y ago
Nothing: but that doesn’t tax all billionaires equally. The point is that you want George Soros and Grover Norquist to pay.
- Macross8299 7y ago
  Ah, so billionaires want to pay, but only if their ego isn't sufficiently damaged by voluntarily reducing their stack. Because let's be honest, it's not like their living standards would be significantly damaged by paying a few more millions to the treasury.
  - lvh 7y ago
    The treasury is not out “a few million”.
- jumbopapa 7y ago
  Why should they be able to force their will on others? If you think you should pay more then do it, but you shouldn't use the government's gun to force the action of others.
whytaka 7y ago
Money is a weapon. Why would you disarm without others doing the same at the same time?
linuxftw 7y ago
There's nothing stopping them. They could contribute a token amount, say, create the '1% club' or similar (probably needs a better name). In any case, you have to ask yourself why they're advocating for this stuff in the first place. These billionaires have international wealth. Raising the taxes fom them in the US is just going to drive capital overseas. It would make it harder for US-only business to compete with the international conglomerates if US taxes were raised. If you want to see improvements domestically, it has little to do with income taxes. You need to raise tariffs and outlaw subsidies to businesses ("I'll give you 50B to build your new stadium in nowhere's-ville"). They'll be forced to invest domestically, pay domestic wages, pay for the infrastructure they need to support their businesses, etc.

martin-adams 7y ago

My guess is that they want to level the playing field for the super-rich. If all are taxed, they feel it's even, if they give up their wealth, it weakens their ability to remain in the club. On the flip side, they may have a sense of responsibility to contribute more, but no gauge of when the contribution is enough. If the government makes that decision, then they resolve themselves of making the judgement.

objektif 7y ago

I think we should stop making this argument when we debate increasing taxes. It is about systematic change of tax code on wealthy class not at individual level.

lvh 7y ago

Nothing: but that doesn’t tax all billionaires equally. The point is that you want George Soros and Grover Norquist to pay.

Macross8299 7y ago
Ah, so billionaires want to pay, but only if their ego isn't sufficiently damaged by voluntarily reducing their stack. Because let's be honest, it's not like their living standards would be significantly damaged by paying a few more millions to the treasury.
- lvh 7y ago
  The treasury is not out “a few million”.
jumbopapa 7y ago
Why should they be able to force their will on others? If you think you should pay more then do it, but you shouldn't use the government's gun to force the action of others.

whytaka 7y ago

Money is a weapon. Why would you disarm without others doing the same at the same time?

linuxftw 7y ago

There's nothing stopping them. They could contribute a token amount, say, create the '1% club' or similar (probably needs a better name). In any case, you have to ask yourself why they're advocating for this stuff in the first place. These billionaires have international wealth. Raising the taxes fom them in the US is just going to drive capital overseas. It would make it harder for US-only business to compete with the international conglomerates if US taxes were raised. If you want to see improvements domestically, it has little to do with income taxes. You need to raise tariffs and outlaw subsidies to businesses ("I'll give you 50B to build your new stadium in nowhere's-ville"). They'll be forced to invest domestically, pay domestic wages, pay for the infrastructure they need to support their businesses, etc.