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Do you ever wonder if it’s possible that some millionaires actually do want to be taxed more, for the greater good of society? Or are you only able to imagine t

by alecst 5y ago

Do you ever wonder if it’s possible that some millionaires actually do want to be taxed more, for the greater good of society? Or are you only able to imagine the shadowy claw-handed cabal of millionaires deceptively arguing for higher taxes so that they can take over the world. I’m serious. How are you so cynical.

motohagiography 5y ago
Honestly no, I have never once wondered that, because anyone who makes money necessarily knows how to deploy it with greater impact than the general revenue account of a government. At least if they just set it on fire it would reduce inflation. The only reason a wealthy person would want to pay more tax is as some hopeful implied contract that ensured they would be left alone and secure with the rest of their wealth. Even still none of them are that naive, because if what they're paying now hasn't reduced govt demand for their money, why should more? Yes, some billionaires have asked to be taxed more, but that's only because they deal with capital at a level of pure abstraction. It's meaningless to them whether you increment or decrement one of the many variables they manage, so long as you don't add new ones. Not only does it cost them nothing to say that, but it often yields 4 years of non-interferance in growing their capital. Regarding cynicism, I just think the merit we assign ideas should be based on something more than applause, and this "in tax we trust" astroturfing campaign doesn't meet that bar.
- bananabiscuit 5y ago
  You are assuming earning money is a meritocracy. It definitely is not. Also the government’s role in spending money is to offset tragedies of the commons. No matter how well someone can deploy money, they have little incentive to deploy their own money to fix issues of the commons. However, it is possible for them to know that society as a whole would be better off if everyone was forced to contribute a fair share to those issues.
neilwilson 5y ago
Because it perpetuates the myth that taxes fund spending, when they don't. Surely after two years of countries finding ridiculous sums of money down the back of sofas by magic, as well as ten years of 'QE' it should be clear that there isn't really a shortage of money. https://new-wayland.com/blog/how-the-governments-super-platinum-credit-card-works/ https://new-wayland.com/blog/how-the-governments-super-plati...
BitwiseFool 5y ago
>"some millionaires actually do want to be taxed more, for the greater good of society?" I'm sure there is actually a population of millionaires out there who want this. That being said, I suspect this is a small subset of millionaires and billionaires as a whole. It seems like the substantially wealthy who want to help the greater good turn towards philanthropy rather than donating money to the government. If you had significant wealth, wouldn't you rather donate it directly to the causes you care about? >"I’m serious. How are you so cynical." In just about every other situation, people distrust the 1% and assume they are conniving, ruthless, and up to no good. Am I suddenly to believe they have had a change of heart and are wholeheartedly endorsing something so progressive?
jl2718 5y ago
Well… are they STILL millionaires?

by alecst 5y ago

motohagiography 5y ago

Honestly no, I have never once wondered that, because anyone who makes money necessarily knows how to deploy it with greater impact than the general revenue account of a government. At least if they just set it on fire it would reduce inflation. The only reason a wealthy person would want to pay more tax is as some hopeful implied contract that ensured they would be left alone and secure with the rest of their wealth. Even still none of them are that naive, because if what they're paying now hasn't reduced govt demand for their money, why should more? Yes, some billionaires have asked to be taxed more, but that's only because they deal with capital at a level of pure abstraction. It's meaningless to them whether you increment or decrement one of the many variables they manage, so long as you don't add new ones. Not only does it cost them nothing to say that, but it often yields 4 years of non-interferance in growing their capital. Regarding cynicism, I just think the merit we assign ideas should be based on something more than applause, and this "in tax we trust" astroturfing campaign doesn't meet that bar.

bananabiscuit 5y ago
You are assuming earning money is a meritocracy. It definitely is not. Also the government’s role in spending money is to offset tragedies of the commons. No matter how well someone can deploy money, they have little incentive to deploy their own money to fix issues of the commons. However, it is possible for them to know that society as a whole would be better off if everyone was forced to contribute a fair share to those issues.

neilwilson 5y ago

Because it perpetuates the myth that taxes fund spending, when they don't. Surely after two years of countries finding ridiculous sums of money down the back of sofas by magic, as well as ten years of 'QE' it should be clear that there isn't really a shortage of money. https://new-wayland.com/blog/how-the-governments-super-platinum-credit-card-works/ https://new-wayland.com/blog/how-the-governments-super-plati...

BitwiseFool 5y ago

>"some millionaires actually do want to be taxed more, for the greater good of society?" I'm sure there is actually a population of millionaires out there who want this. That being said, I suspect this is a small subset of millionaires and billionaires as a whole. It seems like the substantially wealthy who want to help the greater good turn towards philanthropy rather than donating money to the government. If you had significant wealth, wouldn't you rather donate it directly to the causes you care about? >"I’m serious. How are you so cynical." In just about every other situation, people distrust the 1% and assume they are conniving, ruthless, and up to no good. Am I suddenly to believe they have had a change of heart and are wholeheartedly endorsing something so progressive?

jl2718 5y ago

Well… are they STILL millionaires?