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hunter

(38,264 posts)
38. I say it often: The uberwealthy ought to be taxed out of existence.
Wed Jun 24, 2015, 04:25 PM
Jun 2015

Nobody should be so wealthy that they can buy and control our democracy.

Taxes should be near zero at minimum living wages and near 100% on income some multiple of that minimum living wage; I would propose a multiple of less than twenty. If minimum wage is $100 a day than maximum possible income is $2000 a day. If minimum wealth is fully owning a $50,000 house and a small hunting cabin by the time you retire, than maximum wealth might be owning a million dollar house and a fancy beach condo somewhere.

The wealthiest people would live in the same neighborhoods as their employees, and send their kids to the same schools. They'd have a stake in the world as they've made it; they would not be insulated from the damage they do to society.

That's right, a Bill Gates might have the biggest house in town, the fanciest cars, maybe a couple of vacation homes, but the guy who cleans the corporate bathrooms has a pretty comfortable home too and his kids attend the same schools, colleges, and universities, and everyone shops in the same places.

Couldn't agree more. Coventina Jun 2015 #1
Do you realize those of means donate to different causes, a few which comes to mind is Warren Buffet Thinkingabout Jun 2015 #2
the one thing about foundations is that Angry Dragon Jun 2015 #13
And what would be wrong with them controlling the foundation? Thinkingabout Jun 2015 #39
I am unfamiliar with conrillong Angry Dragon Jun 2015 #42
Oh, those magnanimous rich folks. Always looking out for the little guy. I can almost feel the Ed Suspicious Jun 2015 #23
which one of those rich folks can I count on to help me when I lose my job because it's been sent antigop Jun 2015 #29
It's a fair question. I hope one of those rich folks or rich folks supporters can clue us in. Ed Suspicious Jun 2015 #30
Perhaps the foundations should be notified their money is not appreciated. Thinkingabout Jun 2015 #40
Yeah, like the Walton family. progressoid Jun 2015 #57
Competition is a fundamental human compulsion... TreasonousBastard Jun 2015 #3
And tax the living bejesus out of it above certain levels. hifiguy Jun 2015 #8
I go along with raising estate taxes... TreasonousBastard Jun 2015 #36
There is a difference between wealth avebury Jun 2015 #12
I agree-- the way things are now, concentration of wealth is the real problem. TreasonousBastard Jun 2015 #37
If and only if access to the basics of life are not distributed equitably. LanternWaste Jun 2015 #19
Wouldn't focus on directly regulating top-end individual net worth BeyondGeography Jun 2015 #4
I totally agree. What isn't well understood is how excess money corrupts. NRaleighLiberal Jun 2015 #5
Everyone should have a net worth of a billion dollars. Everyone. jtuck004 Jun 2015 #6
"Please deposit $100,000 for the next three minutes of your local call" DFW Jun 2015 #15
That's kinda what I was thinkin' n/t jtuck004 Jun 2015 #34
It should be the '50's tax rate: 93% top marginal. salib Jun 2015 #7
Yep, but close the loopholes. hifiguy Jun 2015 #10
One thing in particular about reichwingers puzzles and bemuses me. hifiguy Jun 2015 #9
you mean I have to give some back?? Angry Dragon Jun 2015 #11
It has been suggested that once one reaches a billion, that they pay 100% in taxes over that Cleita Jun 2015 #14
UNREC brooklynite Jun 2015 #16
-1 PETRUS Jun 2015 #43
Actually the argument is quite valid mythology Jun 2015 #45
No. PETRUS Jun 2015 #46
What if one person had *all* the money? Fumesucker Jun 2015 #49
We may find out. lonestarnot Jun 2015 #59
Well, it is written in stone... kentuck Jun 2015 #17
If you don't want them to have the money don't purchase their goods and services. Nuclear Unicorn Jun 2015 #60
The triumph of theory over practice DFW Jun 2015 #18
However, we had very had tax rates (redistribution) in the 1950's... kentuck Jun 2015 #21
yes the top marginal tax rate in the 1950's was melm00se Jun 2015 #26
There was no redistribution in the 50s. former9thward Jun 2015 #28
We have narcissists, sociopaths, and other greedheads that are determined that there will never be.. AZ Progressive Jun 2015 #20
Pitcairn actually does a pretty good job of income equality. KamaAina Jun 2015 #22
That "freedom" shit is so overarated. BKH70041 Jun 2015 #24
In a perfect world.... En Garde Jun 2015 #25
A big advantage of having a very high top marginal tax rate is investment in business. napi21 Jun 2015 #27
JFK significantly lowered the rate. former9thward Jun 2015 #31
Yes he did. BUT he also eliminated a number of loop holes to offset the reduction. napi21 Jun 2015 #47
Precisely. High taxes encourage investment and philanthropy. Clearly we need to strike a balance, Ed Suspicious Jun 2015 #32
how to become a billionaire: KT2000 Jun 2015 #33
Message auto-removed Name removed Jun 2015 #35
I say it often: The uberwealthy ought to be taxed out of existence. hunter Jun 2015 #38
I got an idea, we will make one new billionaire each year and tha person would be taxed at Thinkingabout Jun 2015 #41
That doesn't make sense. What would you do with Bill Gates? LittleBlue Jun 2015 #44
We should tax and tax and tax them until they're only fabulously wealthy. Scuba Jun 2015 #48
True. PowerToThePeople Jun 2015 #50
Cap inheritance. moondust Jun 2015 #51
High top marginal rates and a high inheritance tax Kennah Jun 2015 #52
Don't disagree. Though, I bet you would be surprised how little it is divided among 7 Billion peopl Hoyt Jun 2015 #53
I've posted this before. Half-Century Man Jun 2015 #54
This is your second OP with highly inflammatory language. (The other was locked.) X_Digger Jun 2015 #55
No one seems to have picked up that the wealth tax I proposed pogglethrope Jun 2015 #56
Ok, then give a person a billiondollars a year and tax them at 100%, now that is a good deal. Thinkingabout Jun 2015 #58
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