this post was submitted on 19 Mar 2024
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How you gonna afford all the social schemes with no tax under $50K? I have "free" healthcare but it's 2% of my taxable income. The taxable brackets start at $18,200 ($11,880 USD) here. You'll need to ensure there is finance for social services else you'll be bringing harm to your society in the form of failed infrastructure.
Tax the rich
Mainly: "Increase highest bracket tax (+5%)", "VAT for luxury items", "Collateral for loan is realized gain". Universal basic income will put money back into the economy and generate sales tax. Legalizing marijuana will bring in tax revenue when regulated properly, same with prostitution. Universal healthcare will arguably save us money over time.
Taxing 50 thousand people earning $50k at just 1% gets you 25 mil.
Taxing a single billion dollars (of which there are thousands among the top 1%) at 5% gets you twice that.
Bezos' net worth is around 210 with a capital B. Tax just him 5% and you could pay those 50k earners a 210k salary. One guy.
Tax the rich.
And by the way, that 2 trillion dollar tax cut they got from their orange canary god would've paid for the US military budget 3 times and still had enough left over to solve world hunger, educate everyone, and end homelessness.
Whos take home is 1 billion per year?
So sometimes it's a wealth tax, not necessarily an income tax.
Still, the top 10 billionaires are averaging +$40B/yr. Tap that for 5% and that's $21B.
Here's some things you could afford with that money:
And that's just from 10 people, at 5%, one time.
The top 10 billionaires are not increasing their wealth by 40billions a year. So that's wrong.
Why wouldn't they just take all their money out of America and invest in other countries?
Well, the tin-foil-hat answer is because they make more by investing it here, namely, in politicians. (Like Musk bought Twitter in an attempt to control the national discourse, so he could, you know, help influence who gets elected and make more money.)
It's probably just more profitable here. We're a Capitalist nation. Capitalists are gonna wanna play our game. If you had a giant stack of bills in Monopoly, you wouldn't take a bunch of them over to the Chutes and Ladders table.
What do all men with power want? More power.
Oh god. Financial illiteracy and misandry this is everything wrong with Lemmy.
There is tax avoidance and multiple other capitalist countries. Wealth tax will be exceptionally difficult to implement for billionaires.
Were all just dreamers. The solution is out there.