Of course we can tax billionaires (opens in new tab)

(pluralistic.net)

19 pointsssklash1y ago8 comments

8 comments

I support a wealth tax. I think a good starting point is a 1% tax on wealth above $10M and 3% on wealth above $100M.

I also support a more progressive income tax, say the tax rates of 1945, which had lower taxes on the lowest income people (even with FICA/SS taxes), and higher taxes for the highest incomes.

See the link below if you want to see what tax structures have been like in the past.

https://taxjusticenow.org/

ssklashOP1y ago

I agree, and it seems like such a commonsense (and proven!) approach that I can't help but think any opposition is simply from super wealthy people themselves or those they've managed to brainwash.

1 more reply

hnburnsy1y ago

That added nothing new or practical to the debate. Would like to see realistic discussions instead of more complaints that the rich have power.

avmich1y ago

It's a nice reminder though.

shams931y ago

Having had my ability to pay tax destroyed by the newest outsourcing. If we eliminate everyone's profession the billionaires would be the only people who even have an income of any kind to tax.

avmich1y ago

Billionaires have income? Then why, as this article says, they don't pay tax? Do they really have income? Or should we use some other word for that?

hcfman1y ago

It’s a good idea. We should ask Trump for this next when he gets in.

j / k navigate · click thread line to collapse

8 comments

slwvx1y ago

I support a wealth tax. I think a good starting point is a 1% tax on wealth above $10M and 3% on wealth above $100M.

I also support a more progressive income tax, say the tax rates of 1945, which had lower taxes on the lowest income people (even with FICA/SS taxes), and higher taxes for the highest incomes.

See the link below if you want to see what tax structures have been like in the past.

https://taxjusticenow.org/

ssklashOP1y ago

I agree, and it seems like such a commonsense (and proven!) approach that I can't help but think any opposition is simply from super wealthy people themselves or those they've managed to brainwash.

1 more reply

hnburnsy1y ago

That added nothing new or practical to the debate. Would like to see realistic discussions instead of more complaints that the rich have power.

avmich1y ago

It's a nice reminder though.

shams931y ago

Having had my ability to pay tax destroyed by the newest outsourcing. If we eliminate everyone's profession the billionaires would be the only people who even have an income of any kind to tax.

avmich1y ago

Billionaires have income? Then why, as this article says, they don't pay tax? Do they really have income? Or should we use some other word for that?

hcfman1y ago

It’s a good idea. We should ask Trump for this next when he gets in.

j / k navigate · click thread line to collapse