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This is the whole thing I wrote: > And generally, people aren't talking about the average small business owner who makes $200k/yr profit. We're talking about p
by camgunz 6y ago
This is the whole thing I wrote:
> And generally, people aren't talking about the average small business owner who makes $200k/yr profit. We're talking about people who have more than $50m in a big money vault. It's a straw man to replace people like pg with like, the people who run email octopus or your local credit union.
If you have a "small business" in your assets worth $49m, no worries! If you have one worth $50m, that'll be 2% please. This affects something like the richest 100,000 Americans, and they're not going to have to like, sell bricks out of the family's car wash business in order to pay it. They may spitefully lay people off or raise prices rather than pay out of their personal/business assets, but that's capitalism for you. I wouldn't blame taxes, I would blame jerks.
The amount of catastrophizing and backseat economizing around a wealth tax is super strange. Income and wealth inequality in the US is by all measures extremely high. 66% of Americans support a wealth tax, including 55% of Republicans. Does anyone really think it's better to have billionaires than universal health care?