7 years ago there were no billionaires worth more than $100 billion - today there are 18!
7 years ago there were no billionaires worth more than $100 billion - today there are 18!
Billionaires 7 years ago:
https://web.archive.org/web/20171004002738/https://www.bloomberg.com/billionaires/
Billionaires today:
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If my math is correct and we taxed everything over 100 billion at 100% we'd get over 900 billion in taxes. Nearly a trillion bucks if we limited these assholes to a measly 100 billion.
A trillion bucks, but not in cash; in shares of those companies. Try to sell it all for cash and you tank the share price. People lose their jobs, pension funds that own shares in those companies lose value.
That’s the trouble with taxing wealth. It’s not liquid like income. All that net worth is tied up in the companies and not easily accessed.
I'd be okay with the govt owning shares, honestly. That way the public would get a voice in how these megacorps operate, and that voice would get bigger the larger the company becomes.
Sovereign wealth fund baby, time to get Nordic
govt owning shares, honestly. That way the public would get a voice
How would a public get a voice? The government would have a voice.
In theory, the government is elected by the public. Not a given these days, I know.