3 ms·
Most "billionaires" have no where near a billion to tax. This is the problem with net worth, its a made-up number. Most billionaires own companies which are "w
by mjburgess 5y ago
Most "billionaires" have no where near a billion to tax.
This is the problem with net worth, its a made-up number. Most billionaires own companies which are "worth in principle" something to someone.
You can only tax that if you force them to sell, and if they can find a buyer.
Do that, and the number of billionaires would precipitously drop from a global few thousand, to a few hundred.
- ajsnigrutin 5y agoDepends... We've seen the panama papers, and all the other ways to avod taxes. And also, compare taxes eg. amazon pays to taxes your local mom-and-pop store pays (percentual)... [0] [0] https://www.cnbc.com/2019/04/03/why-amazon-paid-no-federal-income-tax.html https://www.cnbc.com/2019/04/03/why-amazon-paid-no-federal-i...
- maccolgan 5y agomight as well ask why that entire system exists in the first place?