Media Owned by Wealthy Are Quick to Tell You Wealth Taxes Are a Bad Idea

Re:Media Owned by Wealthy Are Quick to Tell You Wealth Taxes... by kilroy123 on Thursday October 22, 2020 @02:11PM (#24861236)

I'm convinced the best strategy is a tax system where net worth is capped and heavily taxed based on average net worth of all Americans.

There is simply no other way to align interests of the wealthy.

https://anacyclosis.org/2020/05/25/how-do-we-save-democracy

[ Parent | on HN ]

Re:Media Owned by Wealthy Are Quick to Tell You Wealth Taxes... by MacsHeadroom on Thursday October 22, 2020 @02:29PM (#24861489)

I'm in favor of astronomical marginal tax rates. But that post of comically bad at making the argument.

The founding fathers, including a handful of those quoted in the linked post, were highly critical of democracy and even of men who didn't own multiple house like they did.

We just narrowly missed out on having a constitution which only allowed land owners to vote. There were even years long debates on whether votes should be proportional to the amount of land owned.

Using the founding fathers to argue for state enforced equalization of outcomes is plainly absurd.

[ Parent | on HN ]

Re:Media Owned by Wealthy Are Quick to Tell You Wealth Taxes... by kilroy123 on Thursday October 22, 2020 @03:41PM (#24862489)

I still think it's a good idea and worth studying.

Frankly, I don't care what the plan is. I just want to see a less inequality and a stronger middle class.

[ Parent | on HN ]