Wealth taxes aren’t really about raising more funds for government, they will but its not the goal. The problem is the wealthy have all this excess money and they are driving up the price of everything, houses especially but other assets too and taking wealth away from the rest of society. The goal of wealth taxes is to try and slow that process down, no one yet is talking about reversing it but we really should be because the level of inequality is unsustainable.
Comment on Why The Economist hates wealth taxes.
Blue_Morpho@lemmy.world 2 months ago
I think if a wealth tax was implemented, it wouldn’t change anything. Trump would spend the extra money on new wars and bigger monuments to himself.
BrightCandle@lemmy.world 2 months ago
Blue_Morpho@lemmy.world 2 months ago
The problem is the wealthy have all this excess money and they are driving up the price of everything,
Transferring $50B from Musk to Kuschner (Ivanka) doesn’t change this. Any excess tax money will go directly to Trump’s friends and family. He is already increasing the debt to it’s highest levels in history to do this. More money won’t change it.
Sibshops@lemmy.myserv.one 2 months ago
To be fair, the longest journey starts with a single step.
Blue_Morpho@lemmy.world 2 months ago
I’m pointing out that this is putting the cart before the horse. We need actual leftist politicians or it won’t do anything.
nialv7@lemmy.world 2 months ago
ah yes. make the government terrible so people hate the government. then use this distrust to dismantle the public sector and privatize everything.
Blue_Morpho@lemmy.world 2 months ago
Yeah, that’s my point. It’s not the income that’s as much of a problem as the leadership.
You need leaders willing to spend money on workers instead of owners.
AbouBenAdhem@lemmy.world 2 months ago
Shifting the tax burden from the working class to the wealthy reduces the ability of the wealthy to influence politics—that’s how you get leaders willing to prioritize workers over owners.
Blue_Morpho@lemmy.world 2 months ago
It’s not a shift if you have a Republican Congress and President who will not only give it all to their billionaire friends but run up a debt to give more than they took in taxes.