Unless you’re talking about a 100% tax rate beyond a certain point, then you’re still going to have billionaires (or whatever other arbitrary number you want to choose).
I personally think we should abolish all these complicated taxes and go with land value tax because the increase in the value of land is unearned wealth and the current system leads to gross inefficiency, not to mention tax loopholes.
There are a large variety of ways to tax the wealthy. I am no econimist and will not be able to tell you which is best. But honestly, if they are paying more than billions in taxes, then I am OK with them still being billionares.
Unless you’re talking about a 100% tax rate beyond a certain point, then you’re still going to have billionaires (or whatever other arbitrary number you want to choose).
I personally think we should abolish all these complicated taxes and go with land value tax because the increase in the value of land is unearned wealth and the current system leads to gross inefficiency, not to mention tax loopholes.
There are a large variety of ways to tax the wealthy. I am no econimist and will not be able to tell you which is best. But honestly, if they are paying more than billions in taxes, then I am OK with them still being billionares.