Losing half your money in divorce and still becoming the richest person in the world again proves we can take 90% of their wealth and they'd still be fine.
Former president Donald Trump on Thursday raised the prospect of scrapping the U.S. income tax system and replacing it with something very different: much higher tariffs on imported goods.
The fucking idiot still doesn't get that Americans pay the tariffs. Or is he expecting to collect $16,180,461,000 from caviar imports?
@rbreich
Just imagine how much #HealthCare and #AffordableHousing that could have provided for so many people who need it. Instead, Robber Barons are hoarding their wealth and force-feeding us propaganda with what little they are willing to part with.
About 125,000 notices will be sent to high-income earners, including 25,000 people with income more than $1 million, the tax agency said. Maybe we should eat the rich before the price per pound exceeds that of ground beef.
Absorb this graph—but note that the final year is 2018, the year of Trump’s tax cuts. That’s #Trump’s big goal, always has been: to rip off working people and hand huge bags of cash to the ultra-wealthy, like himself and his Mar-a-Lago buddies.
Rutger Bregman:
Stunning graph: the plummeting tax rates of the richest Americans. For the first time in history, billionaires have a lower effective tax rate than working-class Americans.
The world’s 3,000 billionaires should pay a minimum 2% tax on their fast-growing wealth to raise about $313 billion a year for the global fight against poverty, inequality & global heating
New report: over 10,000 San Francisco households received rent relief totaling $61.2 million dollars through SF’s unprecedented local rent relief program. This shows what happens when we tax the ultra-rich to fund people’s basic needs. I’m incredibly proud of how our city came together to make this happen.
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. #taxtherich#sferap#rentrelief#sanfrancisco
I recently started playing a game where you gather resources to make upgrades to get more resources.
Its totally addictive, because the reward system in your brain constantly fires, with every achievement or upgrade you unlock.
But at the same time this totally stresses me out.
Now I kinda understand rich people. If you have so much money at your disposal, that, not only it "works for you" and "multiplies on its own" (in reality someone's work, the planet's resources and everyone's future are being exploited for the rich person to make that money), but you can constantly invest in stocks and other stuff to multiply your money even more super fast, then its hard to resist.
If you don't have that much money, but enough to get by, then you can be much more mindful and zen about it.
If you're poor, that's stressful in many different ways.
So I suggest, to relieve billionaires from their stress, we take the burden from them by taxing them. And as a bonus we can take a lot of stress from the poor by introducing a universal basic income.
The whole model of taxing "income" is wrong. We need to tax Wealth, not Income. Because the ones who desperately need taxing aren't the working folk.
Incidentally, in Canada there is a tax rebate called the "Canada Workers Benefit" (previously "Working Income Tax Benefit") which returns several thousand dollars to those within the bracket. It's a tiny band-aid step in the right direction, to lighten the tax load on those who are working for it, but the whole system needs to change.
A new analysis reveals how beginning in 2018, American #billionaires began paying a lower tax rate than the working class. We can thank #Trump's giant tax scam, and decades of #Republican policy catering to the ultra-rich.
"A coordinated minimum tax on the super-rich will not fix capitalism. But it is a necessary first step."
Voting Republicans out of office is necessary, too.
“[The report shows that] tackling global #poverty will not overshoot global #carbon budgets, as is often claimed. Failure to address the power and privilege of the polluter elite will. These are related because reducing carbon consumption at the top can free up carbon space to lift people out of poverty.”
As with many things, distribution, not the average, is the important thing.
"The finance ministers of Brazil and France pushed this week for a tax on US-dollar billionaires of at least 2% of their wealth each year, with the $250 billion it could raise going to tackle poverty, hunger and #ClimateChange.
If some countries don’t tax billionaires, others can tax them more to make up for it, he said, adding that is how the global minimum corporation tax rate of 15% – which went into effect this year – works."