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robber barons
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- 1Economist argues billionaires should be taxed out of existence●Yes, billionaires must be taxed out of existence - eg, robber-baron style: 94% The primary reason for taxing them is to
An economist is arguing that billionaires should be taxed out of existence, citing a poll figure of 94% in favour. The argument holds that the main purpose of such taxes would be to reduce billionaires' political power, which he says threatens democracy, rather than to fund government spending. He contends the federal government, as a sovereign currency issuer, does not need revenue from the wealthy. The remarks are drawing strong engagement in economic and political circles.
- 2Calls Grow for 90% Taxes to Strip Billionaires of Power●Yes, billionaires must be taxed out of existence - eg, robber-baron style: 90+% The primary reason for taxing them is to
An economics commentator is arguing that billionaires should be taxed at over 90%, in the style of mid-century rates on robber-baron-era fortunes. The argument is that the goal of such taxation should not be raising revenue, since a sovereign currency issuer does not need billionaires' money, but reducing their political power, which the author says threatens democracy. The post has drawn modest engagement and echoes wider debate over wealth taxes and oligarchy.