Setting aside the policy details and the fact that it will never happen, what would be a good wealth cap in the U.S.? I'd be cool with $1 billion though I obviously recognize good-faith reasons to set it waaaaay lower.
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Replying to @jessesingal
Would you favor an audience cap for popular journalists/writers? Seems more socially corrosive since it’s easier to launder media influence into votes.
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Replying to @matthews_bd @jessesingal
We actually do have laws in this area. There are limits on the market share that media companies are allowed to attain. These laws have been weakened a lot over the past decade thought, to many people's consternation.
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Replying to @harryh @jessesingal
True! But that affects distribution, not the content itself—there are not, as far as I know, any limits on how many people can tune in to a given show or read a particular column. A progressive tax on HuffPo’s pageviews would do a lot of good.
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Replying to @matthews_bd @jessesingal
To the extent that page views lead to profits, HuffPo (or its parent company) did face progressive tax rates until the 2017 tax bill changed the corporate tax to a flat rate.
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But that just means that, on the margin, they had an even stronger incentive to accept compensation in the form of influence, rather than money.
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