Call for new taxes on super-rich after 1% pocket two-thirds of all new wealth

theguardian.com

11 points·pseudolus··4 comments

don't tax 'em. expropriate 'em, for most of their accumulated wealth was stolen anyway.

there should be an initial tax of net worth say 200 million per billion, then a tax of 20 percent on wealth over a billion.

have it be a global tax, like with a nato like org that basically bars travel, and business dealings for individuals who don't pay the tax.

Then create some global ubi program or some humanitarian Congress to use the taxes to resolve many income inequality issues.

This won't end billionaires but it'd at least hold them more accountable. Personally I think they should be taxed 90 percent on increase(including capital gains, interest, etc), for every dollar over 1 billion, but the powerful would never let anything like that pass.

I feel that one of the big flaws in our tax system is that while the growth rate of wealth rises exponentially, taxation does not. Taxation should be used to change the exponential growth curve to a linear one.

What in the current tax codes requires this change?

Income is already taxed.

Capital gains are already taxed.

Most of their wealth is from property and shares, so actually only on paper and taxed when realised (when the shares/properties are sold).

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