It’s sad that even the idea of a very high tax rate for even the top 0.1% is off the table. I really like the suggestion of capping net worth at $999 million and the government gets the rest.
I completely agree. It is likely a constitutional amendment will be needed to institute a wealth tax/ceiling. But it is needed, for national security. The centre cannot hold.
Could you imagine the talent pool the most profitable companies would have if all net profits over X billion dollars were automatically redistributed to it’s labor force? Suddenly the wealthiest middle class on earth would be in the US until then somehow clawed that money back.
That’s how it should be. When you actually think about how a few rich people who don’t actually do the work get to “own” the entire company it’s absurd.
It’s sad that even the idea of a very high tax rate for even the top 0.1% is off the table. I really like the suggestion of capping net worth at $999 million and the government gets the rest.
I completely agree. It is likely a constitutional amendment will be needed to institute a wealth tax/ceiling. But it is needed, for national security. The centre cannot hold.
How does that work when for example a single company is worth two billion? Does the government now own >50% of it?
Companies are not people. That court case needs to be overturned. Companies can be worth more. People should not have that much money.
People don’t have that much money. They have companies that are worth that much.
Easiest implementation would be shares start getting shared to all other employees. No more big owner when profits come from the laborers.
Could you imagine the talent pool the most profitable companies would have if all net profits over X billion dollars were automatically redistributed to it’s labor force? Suddenly the wealthiest middle class on earth would be in the US until then somehow clawed that money back.
That’s how it should be. When you actually think about how a few rich people who don’t actually do the work get to “own” the entire company it’s absurd.
Companies would be handled differently than persons.
However there should be regulations too.
No single person has 1 billion. They just own companies that are worth that much.