Agreed for the most part, but I disagree about the 100% taxes thing. I think we should instead cap inheritance/gifts, not income. You can be as wealthy as you want, but once you die, it all goes back to the common pot.
I don’t care about rich people, I mostly just care about generational wealth.
Wealth and income are two different things. We should tax wealth savagely, i.e., the ownership of assets, and we should also tax income, but to a lesser degree.
Just to level set: income refers to the flow of money earned over a period, like a salary or wages, while wealth represents the accumulated assets minus liabilities at a specific point in time
Agreed for the most part, but I disagree about the 100% taxes thing. I think we should instead cap inheritance/gifts, not income. You can be as wealthy as you want, but once you die, it all goes back to the common pot.
I don’t care about rich people, I mostly just care about generational wealth.
I mean, those are kinda two sides of the same coin. Both ways to limit the compounding of wealth in few hands.
I’m open to all these ideas, and more
Wealth and income are two different things. We should tax wealth savagely, i.e., the ownership of assets, and we should also tax income, but to a lesser degree.
Just to level set: income refers to the flow of money earned over a period, like a salary or wages, while wealth represents the accumulated assets minus liabilities at a specific point in time