Taxing wealth instead of work is touted as an important part of the solution to the wealth gap, but I’m curious which other solutions have been proposed or attempted and have succeeded or failed.
Taxing wealth instead of work is touted as an important part of the solution to the wealth gap, but I’m curious which other solutions have been proposed or attempted and have succeeded or failed.
Capping wealth. 100% taxation over a certain amount. If you can’t make more money, why steal wages from your employees or raise prices more than it’s needed? And if you do, all extra money will be taxed and gets back to the people anyways.
Are you proposing a 100% tax on wealth after a certain limit? How would that work? For example you own a house and from year to the next its worth goes above that limit: what’s supposed to happen?
Removed by mod
I think he’s saying that in reality it’s going to be impractical.
Say his assets gain 10% value due to world economy. You can definitely tax him on it if it’s that clear but things rarely are.
Yes we agree billionaires don’t need to exist but the actual practical way of completely preventing anyone from becoming one is going to br harder than it sounds if you’re only leaving one million as a margin of error.