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This is a startling fact: > A one-off 99 percent tax on the ten richest men’s pandemic windfalls, for example, could pay: to make enough vaccines for the worl

by edf13 4y ago

This is a startling fact: > A one-off 99 percent tax on the ten richest men’s pandemic windfalls, for example, could pay: to make enough vaccines for the world; to provide universal healthcare and social protection, fund climate adaptation and reduce gender-based violence in over 80 countries; All this, while still leaving these men $8 billion better off than they were before the pandemic.

robertlagrant 4y ago
It's not a fact. They don't have that money in cash. It's mostly based on shares in their companies. If you take those shares, who's going to buy them, given you'll probably just take them again.
- ZeroGravitas 4y ago
  If you distribute them widely why would that happen? You could even give them to the people who actually work in the business and their suppliers and their suppliers suppliers etc. to make it "fair". Wouldn't want people's hard work to be stolen from them.
  - robertlagrant 4y ago
    1) What's the point in giving them shares that no one will buy? 2) Did you read the parent comment? They were saying to take this "money" and pay for all vaccinations with it.
    - ZeroGravitas 4y ago
      Yeah, they were talking about a windfall tax for coronavirus. You were saying they couldn't do that because of shares. I was saying the shares could be redistributed directly. You seem to have decided that the shares can't be sold or transferred (and then sold) but I'm not sure why you made that leap.
      - robertlagrant 4y ago
        As I understand it, it's not a windfall tax. That $8bn is not cash. It's the ownership of their businesses. My point is the government steals 95% of the business, and then what? Who would buy those shares to turn them into cash to spend on vaccinations (or whatever else)? Why would anyone buy shares that the government can take from them? In your example of taking shares and giving them to other people, why would anyone buy them from the people they were given to? Why buy what the government will just take and give you?
        ZeroGravitas 4y ago
        Because a windfall tax is a sensible and boring idea that has been applied in even right-wing capitalist societies with success and general approval, not a slippery slope into totalitarian communism? It doesn't matter if the windfall is a stack of cash, or an appreciating asset. It's the fact that you got richer without doing anything to earn it that makes it a windfall.
        robertlagrant 4y ago
        > Because a windfall tax is a sensible and boring idea that has been applied in even right-wing capitalist societies with success and general approval, not a slippery slope into totalitarian communism? This isn't relevant. Only how it works is. > It doesn't matter if the windfall is a stack of cash, or an appreciating asset Can you elaborate on how a windfall tax on an asset works? An example might help.

by edf13 4y ago

robertlagrant 4y ago

It's not a fact. They don't have that money in cash. It's mostly based on shares in their companies. If you take those shares, who's going to buy them, given you'll probably just take them again.

ZeroGravitas 4y ago
If you distribute them widely why would that happen? You could even give them to the people who actually work in the business and their suppliers and their suppliers suppliers etc. to make it "fair". Wouldn't want people's hard work to be stolen from them.
- robertlagrant 4y ago
  1) What's the point in giving them shares that no one will buy? 2) Did you read the parent comment? They were saying to take this "money" and pay for all vaccinations with it.
  - ZeroGravitas 4y ago
    Yeah, they were talking about a windfall tax for coronavirus. You were saying they couldn't do that because of shares. I was saying the shares could be redistributed directly. You seem to have decided that the shares can't be sold or transferred (and then sold) but I'm not sure why you made that leap.
    - robertlagrant 4y ago
      As I understand it, it's not a windfall tax. That $8bn is not cash. It's the ownership of their businesses. My point is the government steals 95% of the business, and then what? Who would buy those shares to turn them into cash to spend on vaccinations (or whatever else)? Why would anyone buy shares that the government can take from them? In your example of taking shares and giving them to other people, why would anyone buy them from the people they were given to? Why buy what the government will just take and give you?
      - ZeroGravitas 4y ago
        Because a windfall tax is a sensible and boring idea that has been applied in even right-wing capitalist societies with success and general approval, not a slippery slope into totalitarian communism? It doesn't matter if the windfall is a stack of cash, or an appreciating asset. It's the fact that you got richer without doing anything to earn it that makes it a windfall.
        robertlagrant 4y ago
        > Because a windfall tax is a sensible and boring idea that has been applied in even right-wing capitalist societies with success and general approval, not a slippery slope into totalitarian communism? This isn't relevant. Only how it works is. > It doesn't matter if the windfall is a stack of cash, or an appreciating asset Can you elaborate on how a windfall tax on an asset works? An example might help.