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Marginal tax rates on income and wealth that make being a billionaire impossible? The US was prosperous with much higher marginal tax rates for instance. We sh
by michaelmrose 5mo ago
Marginal tax rates on income and wealth that make being a billionaire impossible? The US was prosperous with much higher marginal tax rates for instance.
We should treat existing fortunes as bugs and correct them.
- hsbauauvhabzb 5mo agoI’m not sure if you are aware but there are ways for the rich and powerful to live, maintain and earn fortunes outside of the US.
- johnnyanmac 5mo agoGood, let them leave, then. I'm tired of this excuse of "but the parasites are crucial to our way of life". As if the invisible hand won't have dozens of other companies to compete and fill the void should the monopoly man walk away with his money. They've had decades to move to Dubai or New Zealand or whatever other magical country doesn't tax its residents. I wonder why they choose to stay in one of the richest countries in the world instead?
- hsbauauvhabzb 5mo agoMy point is they can still influence the US even if they / their money isn’t there. Do you really live in that much of a US-centric bubble where you don’t realise outside influence exists?
- johnnyanmac 5mo ago>they can still influence the US even if they / their money isn’t there. Sure, but I wager not being in the US means less money. And thus less influence > Do you really live in that much of a US-centric bubble where you don’t realise outside influence exists? Adding any friction to their influence is a good thing, in my eyes.
- hsbauauvhabzb 5mo agoNo, your trillion dollar company invests all its money in offshore companies which just happen to be owned or controlled by you.
- johnnyanmac 5mo agoCool, more american companies to invest in.
- michaelmrose 5mo agoYou realize that there is no sort of outsized influence we couldn't declare illegal?
- hsbauauvhabzb 5mo agoI’m not sure you know how the world works lol.
- michaelmrose 5mo agoI do we are discussing whether the problem is theoretically solveable not whether it would be politically possible.
- hsbauauvhabzb 5mo agoSo in layman’s terms, you haven’t solved the problem.