I know this was semi-facetious, but because failure-to-file is easy pickings... and if you do file, tax fraud has no statute of limitations, and you don't want to be financially misaligned to a change in administration in 4 years.
It's a national security threat to have individuals with no actual loyalty to country or laws but the ability to buy significant control of the federal and/or state governments.
Hell, set the bar at $250M since that's how much Elon paid (excl. Twitter purch.) to control the entire executive branch.
For real. I've gone from "billionaires are a great reward the country offers" to like "confiscate all wealth over 200 million and send any billionaire to a people's commission."
I seriously think we should build a party around 99% marginal rates on yearly income of over $1 million and asset caps of $10 million, but I would be happy with that!
Wealth inequality is almost upstream from every social problem we have, and responsible for the level of capital capture we now see.
Democratic party, are you listening? Looking at my crystal ball, taxing the rich, eliminating billionaires, is your future or you have none. Money is power and concentrated power is a force that no democratic nation can withstand. Sooner or later it will always be we the people, or we the wealthy.
Trump, the gangs with him in power, his entire cult all the way down to the dumbest hillbillies are absolutely convinced that they have won forever, annihilated their enemies for eternity, and they will never lose power again.
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Hell, set the bar at $250M since that's how much Elon paid (excl. Twitter purch.) to control the entire executive branch.
Anything over 100x the poverty line.
If you’re a single adult, the poverty line is $15,650.00.
So 100% tax on anything over $1,565,000.00.
We can have millionaires, but not billionaires, and if material conditions measurably improve for the poorest…
Come to think of it why aren't we doing universal basic income. That just needs to be a thing.
Wealth inequality is almost upstream from every social problem we have, and responsible for the level of capital capture we now see.