Mike CernovichVerified account

It’s not for you or a majority vote to decide. It’s their property. “Boost Investment In Private Sector” just means blow bubbles Abstaining from Investing when prices/earnings are too high is just as important to capital markets as buying when opportunity is good. Communist.

All these money are already invested in private sector (even if they are sitting in banks - they are being used by bankers to finance whosoever needs loans). Why people think that the government is better at handling money?

They can only make those millions (excluding rent-seeking) by bringing valuable goods to market for which people will voluntarily exchange those millions. So yeah, capping profits means capping the social good these entrepreneurs can create. Say bye to iPhones, et al. That's dumb

It’s theft.

Just move to a consumption tax. Income tax is archaic.

@BillGates you are wanted for questioning

who gets to decide and what right do they have to? would the threshold be fixed or linked to inflation? what if a super socialist government decided to lower the threshold? you would end up with capital flight and offshoring to compensate for the gov going after peoples money.

They would just move business somewhere else.

Cap on personal wealth would destroy innovation. No private space race for example.

It's called the Pareto Principle.

Wealth is power and centralized power is risky. Mistakes by the few can be catastrophic for all. Your proposal would tilt the power even more toward the politicians and bureaucrats. Smaller, distributed, gov't is how we can counter the winner-take-all threat.

The top 20% of earners pay over 80% of all federal income taxes collected. The bottom 50% pay zero. So tell me why we need more tax on the wealthy? It's not yours or the government's money. It's theres. When does it become theft?