5 ms·
1. somehow the hate against the 0.01% always turns into policies that tax the upper 20%, or 10%, or 5%. why is that? Is there a way to formulate the arguments
by sandoooo 7y ago
1. somehow the hate against the 0.01% always turns into policies that tax the upper 20%, or 10%, or 5%. why is that? Is there a way to formulate the arguments / policies so that it doesn't do this?
2. the wealth of the 0.01% are numbers stored in computers. They are claims on future production, yes, but the whole system only works because 99.99% of these claims never gets cashed out, because there are physical limits to what a handful of billionaires can consume, no matter how opulent their lifestyles. If you try to distribute this virtual wealth, people will try to turn it into physical consumables, only to find there really isn't enough for everybody, and the whole system will go to shit.
3. at some point, a guy I know made the observation that revolutions don't really redistribute much, mostly they just take the wealth from the wealthy and burn it. Well maybe how it works is the most important and expensive physical good - land - gets redistributed, most other physical goods are destroyed, and the virtual wealth is zeroed in a very expensive accounting exercise.
- chongli 7y agoIs there a way to formulate the arguments / policies so that it doesn't do this? No. The upper .01 percent have tax lawyers and accountants and many other staff members (not to mention lobbyists) working full-time to reduce their taxes. In theory, anyone could do the same. In practice, the tax code is so enormously complex that only people who can afford to hire multiple college grads full time can pull it off.