With wealth inequality and billionaire control over American society growing ever more obscene, it’s well past time to implement a maximum wage limit.
With wealth inequality and billionaire control over American society growing ever more obscene, it’s well past time to implement a maximum wage limit.
@desmosthenes @technocrit why does that matter if they’re not contributing anyway. But also https://taxjustice.net/press/millionaire-exodus-did-not-occur-study-reveals/
because they buy things - especially luxury items, create more companies, hire people, in theory… who knows anymore
@desmosthenes a lot of it is more likely to go into the Cayman Islands or investing in media they can control or buying politicians. Give $1b to one man or $20 each to 50 million people - bet you more money makes it into your local economy the second way.
this is what I was alluding towards. but have to crawl back that initial 1b in the first place… but agreed, normal folk actually pay taxes
@desmosthenes they also buy food and drink from your local town, rather than designer limited editions from Paris.
@desmosthenes but to go back to the first point - if they want to have a company in the US they will do it whether or not they’re resident. Can’t very easily employ thousands of Cayman Islanders in your billion dollar business. A Way would be found. But by structuring the business in such a way as to avoid whatever restrictions there are, there would at least be a small reduction in their cut. And a small reduction in billions is not insignificant. Plus… One fewer tax haven reduces options.