Assuming billionaires were going to get a special tax, how would you actually determine how much to tax them? Sure some would be straightforward like Musk where it’s entirely derived from a few companies with known ownership stakes, but what about all the others?
We don’t even know the names of most of the billionaires. With all the games they can play to hide money, now made even easier thanks to the changes Trump made in his first few months, how would you even figure out who and what amount to tax? They don’t have a normal salary or easily documented income like everyone else.
Flat tax on spending, flat tax on financial assets, flat tax on out of state transfers. Just no matter what anyone does with their money, it’s taxed.
It’s actually more complicated than you think. Here’s the starting point of the complexity. When do you tax someone’s investment earnings? When do you tax someone’s business? When do you tax someone’s income from abroad? If they live part of their life abroad, how much of their income does your country tax? … If you think the above have simple answers, then you don’t understand the actual situations that people are living.
It’s great to say that a flat tax is simple and it will work but in reality actually it’s not simple at all because there are always ways to gain the system and you have to find those and keep working on fixing them.
A flat tax is regressive and impacts the poor the hardest
you’re assuming nothing changes. I’m assuming we increase revenues by massive amounts and actually implement social welfare policy.
regressive af