Instead, we need to have a wealth cap. No one in the world needs to have more than 10 million dollars in total wealth. Not just a 100% tax on income over that amount; I mean a 100% tax on appraised wealth over that amount.
The additional tax revenue is divided by the country's population size as a small, baseline income to every citizen. Everyone gets a small income.
The main reason for doing this isn't to punish the rich; no one can cry at having 10 million, inflation-adjusted. It's to deflate power. In 2007, the top 1% had 43% of the financial wealth; the next 4%, 29%. The bottom 80%, 8%.
The very concept of the billionaire is hedonistic and greedy. No one needs or deserves to have so much when others have so little. It's a bug in the system; a flaw in the design.
If you have a race and someone is 300 meters ahead of you, you can say, "Wow, great! That person must have trained hard and have a lot of talent." If someone is 40 kilometers ahead, you can say, "Wait, who took a taxi?" Some distance can be assigned to effort, skill and luck. But past that, it's indicative of a flaw in the system or a crime. Let's change that. It's time.
"Some distance can be assigned to effort, skill and luck. But past that, it's indicative of a flaw in the system or a crime. Let's change that. It's time."
I am reposting this on my website: susansayler.wordpress.com
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[ 1.3 ms ] story [ 238 ms ] threadInstead, we need to have a wealth cap. No one in the world needs to have more than 10 million dollars in total wealth. Not just a 100% tax on income over that amount; I mean a 100% tax on appraised wealth over that amount.
The additional tax revenue is divided by the country's population size as a small, baseline income to every citizen. Everyone gets a small income.
The main reason for doing this isn't to punish the rich; no one can cry at having 10 million, inflation-adjusted. It's to deflate power. In 2007, the top 1% had 43% of the financial wealth; the next 4%, 29%. The bottom 80%, 8%.
The very concept of the billionaire is hedonistic and greedy. No one needs or deserves to have so much when others have so little. It's a bug in the system; a flaw in the design.
If you have a race and someone is 300 meters ahead of you, you can say, "Wow, great! That person must have trained hard and have a lot of talent." If someone is 40 kilometers ahead, you can say, "Wait, who took a taxi?" Some distance can be assigned to effort, skill and luck. But past that, it's indicative of a flaw in the system or a crime. Let's change that. It's time.
"Throw on the cost of a small apartment and a used car, and you've arguably got all you could want: health, friends, and intellectual exploration."
"Arguably" is the key word here. I, for one, want a helicopter and a beer spa.
"Some distance can be assigned to effort, skill and luck. But past that, it's indicative of a flaw in the system or a crime. Let's change that. It's time."
I am reposting this on my website: susansayler.wordpress.com