Mmastodon BusinessEconomy first seen 23 h ago, last 24 min ago, peak #1
Calls grow for 90% taxes to strip billionaires of power
Original: Yes, billionaires must be taxed out of existence - eg, robber-baron style: 90+% The primary reason for taxing them is to
A US-based commentator is arguing that billionaires should be taxed at more than 90%, in the style of mid-20th-century rates on robber-baron fortunes. The argument is that the goal of such taxation should be to reduce the political power of the ultra-wealthy, which the author says threatens democracy, rather than to raise revenue, since the federal government as a sovereign currency issuer does not need billionaire money to fund spending. The claim has drawn engagement in economic-policy discussions online.
Why now: Debates over extreme wealth inequality and the political influence of billionaires are a recurring flashpoint in current economic and political discourse.
billionairesUnited States federal government
Rank over time, top of the chart is #1. 7 snapshots from 8 h ago to 24 min ago.
Evidence
- Yes, billionaires must be taxed out of existence - eg, robber-baron style: 90+% The primary reason for taxing them is to *decrease their power*, eg, to destroy democracy. The feds do *not* need oligarch money for fed spending. As a sovereign currency issuer, the feds can… · DrALJONES · 26
- Yes, billionaires must be taxed out of existence - eg, robber-baron style: 90+% The primary reason for taxing them is to *decrease their power*, eg, to destroy democracy. The feds do *not* need oligarch money for fed spending. As a sovereign currency issuer, the feds can… · DrALJONES · 22
- Yes, billionaires must be taxed out of existence - eg, robber-baron style: 90+% The primary reason for taxing them is to *decrease their power*, eg, to destroy democracy. The feds do *not* need oligarch money for fed spending. As a sovereign currency issuer, the feds can… · DrALJONES · 9
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