Why. We used to have much higher tax rates on the super wealthy. That was when America was doing stuff rather than floundering.
I'd even argue it's in their own interest to have higher taxes. There is no guarantee the current structure of society will continue indefinitely. Without a more reasonable distribution of wealth, we may end up repeating the "let them eat cake" episode.
Very astute. Of course my comment is saying no it won't - its called mathematics. Its all posturing without any meaningful effort but people lap it up because it doesn't require anyone else to anything different.
Such that one person doesn't have the power to buy, legally, a presidential election, multiple regional elections, or half the politicians via lobbying/corruption.
The problem you are describing is revoking Citizen's United. What your trying to do is a patch job to another problem which is going to cause all sorts of unintended consequences.
First principles people, not these lazy slap dash approaches.
It's not about Citizen's United, because it's very specific to the US, while it's a global problem that rich people have too much influence.
Forget about elections and politicians, they can fund media empires at a loss to push their ideologies. No one should have that much power. They can buy lawyers effectively putting them out of the reach of the law. So many problems would be solved or reduced in intensity by taxing them.
The goal is to stop wealth inequality from continuing to rise and to even decrease it. Taxing wealth (holding on to assets and letting them generate income passively) past a certain amount (progressive tax brackets based on wealth) is the first step to have precisely the effect of reducing that inequality.
People with no/little wealth will be taxed nothing/very little and the wealthiest will be taxed a lot; offer government subsidies for those with no or little wealth to make their daily spending easier, perhaps even a small UBI. All of a sudden, wealth inequality is going the other way. That seems kind of obvious, frankly.
Why. We used to have much higher tax rates on the super wealthy. That was when America was doing stuff rather than floundering.
I'd even argue it's in their own interest to have higher taxes. There is no guarantee the current structure of society will continue indefinitely. Without a more reasonable distribution of wealth, we may end up repeating the "let them eat cake" episode.