Wealth taxes aren’t really about raising more funds for government, they will but its not the goal. The problem is the wealthy have all this excess money and they are driving up the price of everything, houses especially but other assets too and taking wealth away from the rest of society. The goal of wealth taxes is to try and slow that process down, no one yet is talking about reversing it but we really should be because the level of inequality is unsustainable.
The goal is just to remove wealth from those that have too much to restore function to the market, if we don’t succeed immense poverty for most people will happen, a trend we are very rapidly accelerating down.
The problem is the wealthy have all this excess money and they are driving up the price of everything,
Transferring $50B from Musk to Kuschner (Ivanka) doesn’t change this. Any excess tax money will go directly to Trump’s friends and family. He is already increasing the debt to it’s highest levels in history to do this. More money won’t change it.
Wealth taxes aren’t really about raising more funds for government, they will but its not the goal. The problem is the wealthy have all this excess money and they are driving up the price of everything, houses especially but other assets too and taking wealth away from the rest of society. The goal of wealth taxes is to try and slow that process down, no one yet is talking about reversing it but we really should be because the level of inequality is unsustainable.
The goal is just to remove wealth from those that have too much to restore function to the market, if we don’t succeed immense poverty for most people will happen, a trend we are very rapidly accelerating down.
Transferring $50B from Musk to Kuschner (Ivanka) doesn’t change this. Any excess tax money will go directly to Trump’s friends and family. He is already increasing the debt to it’s highest levels in history to do this. More money won’t change it.