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Wealth is taxed, there’s just a ton of loopholes. It should be illegal to borrow with stock as collateral. This makes tax avoidance really easy for wealthy peo
by dgfitz 1y ago
Wealth is taxed, there’s just a ton of loopholes.
It should be illegal to borrow with stock as collateral. This makes tax avoidance really easy for wealthy people.
Nobody needs as much wealth as the top 1%. Limits and incentives need to be put in place to essentially create a luxury tax.
Stock buybacks should be disincentivized. Companies holding so much money in cash sitting on the sidelines (Apple) don’t stimulate the economy.
The US has an embarrassing amount of money, it’s just all manipulated away from the market and the people.
- toomuchtodo 1y agoThe logistics can be argued elsewhere, I’m simply saying that is where you can tax; there is nowhere else of material value to. The majority of US households can’t even afford to survive, let alone face a tax burden. > For the bottom 60% of U.S. households, a "minimal quality of life" is out of reach, according to the group, a research organization focused on improving lower earners' economic well-being. https://www.cbsnews.com/news/cost-of-living-income-quality-of-life/ https://www.cbsnews.com/news/cost-of-living-income-quality-o... https://lisep.org/mql https://lisep.org/mql
- dgfitz 1y agoOh, I wasn’t disagreeing with you or trying to argue anything. I agree with your points.
- Animats 1y agoSome countries have a net-worth tax. Here are Switzerland's rules and tax rates.[1] There are few exemptions. The canton of Geneva charges about 0.9% of net worth per year. [1] https://fidulex.ch/en/swiss-wealth-tax/ https://fidulex.ch/en/swiss-wealth-tax/
- sfifs 1y ago> The US has an embarrassing amount of money, it’s just all manipulated away from the market and the people. Well if the people consistently elect the wealthy to govern, would that not be the direct result of the wealthy looking after their interests?