Meet the top economist - and newest Zeteo contributor! - who is making the intellectual, political, and financial case for a wealth tax. Read this exclusive excerpt from his latest book.
Love the idea, but why do we set our sights so low? Why do we hope to get something approaching parity of rates for the ultra wealthy instead of progressively higher rates (e.g. 2% for 100M, 3% for $1B, 5% for 10B, 10% for 100B, etc).
Also, another simple change would go a long way - whenever they "borrow" money against their shares/companies, this should be a taxable event (in effect treated the same as selling and resetting the cost-basis). Right now, the ultra rich, just "borrow" billions and never pay back to fund their yachts, homes, etc, which lets them realize all their gains tax free. Its obscene.
Wow now that's ironic • what I'm reading on substact I am also watching on the tube. I guess if we don't fix taxes, next generation's commercials will feature it. * Except for the billionaire's owning TV. It's got to be changed.
With all the talk of taxing billionaires, is that why Peter Thiel bought a $12 million mansion in Buenos Aires & Zuckerberg just bought a castle in Ireland ? 🙄
Yes it’s past time to tax the ultra wealthy. The current system is unsustainable.
The thirst for power like greed becomes insatiable like a malignant cancer Since the 1980's during the Reagan years of dominance the Nazi Republicans decided it was their time to flip the script of Democratic dominance but they knew because of unpopular policies eg reducing the social safety net, lowering taxes for the wealthy and corporations, reducing/elimination of federal control over the states, that the only solution was to rig the electoral system in their favor, at that time gerrymandering.
But over at the DOJ a fella named Roberts had another idea Seeing what the VRA had done to the Nazi's ability to control the power dynamic he and his Federalist Society buddies decided that the judicial solution would be to declare that racism was over and the VRA had to go
Now fast forward to today and one can see the result of the rise to power by the fascist Republicans Not only was it labeled legitimate to illegally rig the 2016 and 2024 elections(abundant circumstantial evidence supporting such statements) for the betterment of American society but it was necessary with a malignant narcissist candidate like Cheeto to head a fascist takeover of the government What may have been "cute judicial manipulation" by GW gradually grew over the decades to frank obsession and thirst for power and need to retain it
And voila!! The trifecta achieved!! Now with the governmental levers of power in hand it's time to make hay The antidemocratic Roberts Court as it will go do in the history books is merely a symptom as often the case in these situations of a greater sickness in an organization like the Nazi....and I don't use that word lightly.....party aka CNPP(Christian Nationalist Pedo Party) What WE the People are witnessing is an organizational thirst/lust for power and survival like a cancer that has gone out of control and metastasized and WE the People must stop it
Repeal the filibuster and expand SCOTUS and make hay on this fascist coup to pass severe voting rights protections, pass a wealth tax on billionaires and corporations, pass meaningful immigration reform, pass national abortion protections, pass severe restrictions on campaign finance and end the Citizens United decision, renew commitment to clean renewable energy, put an end to support Israeli military budget support.
What a wonderful and maddening article. Holy cash cows!!🐮 💔🇺🇸
Love the idea, but why do we set our sights so low? Why do we hope to get something approaching parity of rates for the ultra wealthy instead of progressively higher rates (e.g. 2% for 100M, 3% for $1B, 5% for 10B, 10% for 100B, etc).
Also, another simple change would go a long way - whenever they "borrow" money against their shares/companies, this should be a taxable event (in effect treated the same as selling and resetting the cost-basis). Right now, the ultra rich, just "borrow" billions and never pay back to fund their yachts, homes, etc, which lets them realize all their gains tax free. Its obscene.
This is the kind of analysis and information we need. Thank you Zeteo
THE GREED! The hoarding of billions of dollars that you never spend is a mental illness.
Wow now that's ironic • what I'm reading on substact I am also watching on the tube. I guess if we don't fix taxes, next generation's commercials will feature it. * Except for the billionaire's owning TV. It's got to be changed.
With all the talk of taxing billionaires, is that why Peter Thiel bought a $12 million mansion in Buenos Aires & Zuckerberg just bought a castle in Ireland ? 🙄
Yes it’s past time to tax the ultra wealthy. The current system is unsustainable.
Power And SCOTUS
The thirst for power like greed becomes insatiable like a malignant cancer Since the 1980's during the Reagan years of dominance the Nazi Republicans decided it was their time to flip the script of Democratic dominance but they knew because of unpopular policies eg reducing the social safety net, lowering taxes for the wealthy and corporations, reducing/elimination of federal control over the states, that the only solution was to rig the electoral system in their favor, at that time gerrymandering.
But over at the DOJ a fella named Roberts had another idea Seeing what the VRA had done to the Nazi's ability to control the power dynamic he and his Federalist Society buddies decided that the judicial solution would be to declare that racism was over and the VRA had to go
Now fast forward to today and one can see the result of the rise to power by the fascist Republicans Not only was it labeled legitimate to illegally rig the 2016 and 2024 elections(abundant circumstantial evidence supporting such statements) for the betterment of American society but it was necessary with a malignant narcissist candidate like Cheeto to head a fascist takeover of the government What may have been "cute judicial manipulation" by GW gradually grew over the decades to frank obsession and thirst for power and need to retain it
And voila!! The trifecta achieved!! Now with the governmental levers of power in hand it's time to make hay The antidemocratic Roberts Court as it will go do in the history books is merely a symptom as often the case in these situations of a greater sickness in an organization like the Nazi....and I don't use that word lightly.....party aka CNPP(Christian Nationalist Pedo Party) What WE the People are witnessing is an organizational thirst/lust for power and survival like a cancer that has gone out of control and metastasized and WE the People must stop it
Repeal the filibuster and expand SCOTUS and make hay on this fascist coup to pass severe voting rights protections, pass a wealth tax on billionaires and corporations, pass meaningful immigration reform, pass national abortion protections, pass severe restrictions on campaign finance and end the Citizens United decision, renew commitment to clean renewable energy, put an end to support Israeli military budget support.
Important article