It looks like the Democrats are now moving towards my policy suggestion of a few weeks back: that we should tax the richest person in America at 50%, and recalculate it every week. We'll stand to raise even more revenue from the reality show rights.https://www.washingtonpost.com/us-policy/2021/10/26/billioniare-tax-dems-biden/ …
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We could raise even more revenue if we taxed billionaires' assets at 400% and made them go hat in hand begging all their millionaire friends
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use your power wisely.
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Back in the 1940s when the highest tax bracket was 94% it basically applied to only one person in the country, so this wouldn't be so unheard of. Dynamically changing the target is a cool twist though.
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Meanwhile, incentivizing caps on executive salaries and spreading more of the wealth across the rest of the employees in a company sounds pretty good. I.e., there's no point in landing a 7 figure salary if Uncle Sam will take 90% of it.
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