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Wealthy individuals will just keep all their wealth in a company and accumulate forever. It's terrible for wealth inequality.
by dannyw 5y ago
Wealthy individuals will just keep all their wealth in a company and accumulate forever. It's terrible for wealth inequality.
- prepend 5y agoCorporate income taxes don’t matter with this as corporate income gets deferred even longer than individuals. So I think it’s neutral for wealth inequality, since an individual getting $1B in income or a corporation getting $1B in income to a single individual is the same. Or deferring income with trusts, credits, etc. I think for wealth inequality, the goal is to have more individuals with greater wealth, so this doesn’t seem to affect the number of people impacted.
- djbebs 5y agoPunitive taxes and regulation is what heightens wealth inequality. In any case I find that any appeals to decrease wealth inequality is ultimately no more than greedy appeals to take from the responsible and give to the irresponsible, so I've long since stopped seeing that as a legitimate argument.