Should just start by issuing a 80 percent tax in wealth that we haven’t hit yet
Say, 400 billion.
That way when they can pass it and say it doesn’t impact anyone. It’s just there as a buffer…
And when musk or zuck hit that eventual trigger we tax the piss out of them
We (U.S.) should revisit the Alternate Minimum Tax. The whole idea was to mitigate excessive deductions for the wealthy by earablishing a more straightforward way of calculating that their tax must at least match the minimum. I believe it even worked for a few years.
AMT was not indexed for inflation so affects more people every year with inflation , not just the wealthy
there are still too many loopholes so “money finds a way”
Should just start by issuing a 80 percent tax in wealth that we haven’t hit yet
Say, 400 billion.
That way when they can pass it and say it doesn’t impact anyone. It’s just there as a buffer… And when musk or zuck hit that eventual trigger we tax the piss out of them
We (U.S.) should revisit the Alternate Minimum Tax. The whole idea was to mitigate excessive deductions for the wealthy by earablishing a more straightforward way of calculating that their tax must at least match the minimum. I believe it even worked for a few years.