if the goal is wealth distribution, we should really be going to the root of the problem.
how do these people become billionaires in the first place? fight the wage theft and legislate benefits for workers in the first place instead of taking the money back after the fact…
as much as i love taxing billionaires and seizing wealth, i think getting to the root of the problem is better optics and maybe more palatable to people
We need to raise their taxes to compensate for how much control they have over the system. For example, we can’t just increase the minimum wage because businesses will raise prices, often beyond whatever additional spending power was given to workers.
The reason why taxing our rulers isn’t palatable is because we’re stupid. Until we climb over that hurdle, we shouldn’t expect things to improve.
if the goal is wealth distribution, we should really be going to the root of the problem.
how do these people become billionaires in the first place? fight the wage theft and legislate benefits for workers in the first place instead of taking the money back after the fact…
as much as i love taxing billionaires and seizing wealth, i think getting to the root of the problem is better optics and maybe more palatable to people
You can do both things.
This would cover the billionaires that exist today, while your approach would cover situations where they are being manufactured.
Both approaches are required here.
Rentier economy
We need to raise their taxes to compensate for how much control they have over the system. For example, we can’t just increase the minimum wage because businesses will raise prices, often beyond whatever additional spending power was given to workers.
The reason why taxing our rulers isn’t palatable is because we’re stupid. Until we climb over that hurdle, we shouldn’t expect things to improve.