4 ms·

If people having money is driving up costs, why not just go after the 600 billionaires rather than the millions of others?

• kqr 4y ago
  Because when you try to increase taxes on income and capital for the rich, the very rich always manage to loophole their way out of it and the middle class gets screwed over. Guess who votes?
  • candiodari 4y ago
    Plus the very rich, the ones meant here, don't represent a decent part of the total. What you will effectivly destroy, going after "income and capital for the rich", first and foremost, are pensions. That's where the majority of FANG (and other) profits go to: paying people's pensions.
    • kqr 4y ago
      I'm not sure I follow. Even if what you say is true, government with sovereign currencies can tax the capital and still pay out just as generous pensions. They just have to tax capital even harder to keep inflation at bay. No? Basically if you look at taxation as a way to destroy money, and then you focus taxation on things you want to discourage (too high concentration of capital, unhealthy habits, environmental impact, etc.) you can incentivise and disincentivise whatever you want.