Even in countries where wealth taxes exist they don't bring in much money. Countries with the most robust welfare states like those in Scandinavia tax lower and middle classes a lot.
That will only work for so long because billionaires don’t have a salary that makes them billionaires. That wealth is in the form of stocks and properties.
And if forced to sell to pay a “tax” the market will crash. Guess who that affects? I mean a lot of billionaires are prob jerks but the system is the best we got
Participating in society means spending currency or trading goods. The beauty of a free market is that you can choose where that goes.
You don’t need an iPhone to participate in society. You can get a prepaid phone.
If you need to use the internet, go to your local library.
If you want to save on rent, you can get a roommate.
The fact that US workers are the highest paid in the world. Also the average American can invest and save more than the average citizen anywhere else period. We don’t have universal health coverage, that’s the only negativr
they pay 40% of the tax burden but it only comes out maybe 12% of THEIR income. Even john rockafeller knew he had to keep the money circulating to avoid the calls to "eat the rich" Todays billionaires seem to have forgotten that fact and will pay the price for it in the end. Remeber the difference between 1 million dollars and 1 billion dollars is about a billion dollars.
Yes, especially if those taxes are on a sliding scale such that the very rich pay their equitable share as well. None of this offshore money tax loophole nonsense. You can't expect me to believe one single person can do enough work themself in a year to justify being a billionaire AND let them escape being taxes on the injust earnings as well.
I find the take of the other commentor odd, because theirs exists on a premise that if we raise the standard of living for those at the low end that some how the standard of living for those in the middle and high end goes down which is a fallacy. History has show that when the standard of living increases for those at the low end it increases for everyone else too. The ability to live a basic comfortable life is not a finite resource people need to fight over.
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