> tax 100% above it. (should only concern a fraction of a fraction of cases) 3) put all this tax's proceeds in a sovereign wealth fund 4) at 21, a citizen gets access to her redistributed generational wealth 5) profit
If you think you’ve seen zany tax schemes, just wait till they try implementing something as crazy as a 100% tax.
There’s also a moral question of why you feel entitled to not just a majority of the fruits of my labors, but apparently all of them.
There's an unproven assumption that somehow the inequality of outcome is 1) unjust, and 2) something to be "corrected."
The first has no foundation other than appeal to emotion to create in-group / out-group tribes ("eat the rich!") to then suggest what end up being power grabs that destroy the middle class and do nothing to the wealthy.
The second item requires destroying value. All economic activity comes from exchanges of value, which is intrinsically tied to time; that irreducible finite quantity to which everyone is subject. We've seen over and over again, when you try to destroy the concept of value, which is subjective and circumstantial for each individual, all you end up doing is causing human misery.
This obsession with taking other people's money rather than enabling opportunities to make your own is unhealthy, destructive, and immoral.
I am actually advacating for something different: I am not taking your money, I am saying after some level, what you accumulate is not - your kids - money. It realigns incentives (do something with it before you die), helps your kids (unearned weath corrupts, enormous unearned wealth corrupts enormously), and actually enables opportunities through investment and redistribution at a time when most people need something like a downpayment or school debt clearing.
>There's an unproven assumption that somehow the inequality of outcome is 1) unjust, and 2) something to be "corrected."
There's decades of research into this if you care to look up wage theft, worker productivity vs compensation, the lobbying against unions and minimum wage and any other labor protections, and the fact that we ruled that it's okay for billionaires to buy politicians.you talk about enabling opportunities, but lobbyists have used it to pull up all the ladders and pay less back to the people. So yes, we're due for a correction.
If you're a millionaire this doesn't really apply to you. Your taxes go up maybe 2-3%. "Wealth tax" is in the realm of 100m and definitely by 1b.
No one earns a billion dollars. By that point you aren't "earning" money anymore. Tax it 99% for all I care. You or someone else should be spending that by thatpoin. If you're a multi-billion aire then that's rough, but o don't think your QoL will be impacted.
Also, your loins did hot "earn" that money either by popping out of a uterus. Inheritance tax is probably the easiest to push of you can convince people that children aren't entitled to be billionaires by existing.
If you think you’ve seen zany tax schemes, just wait till they try implementing something as crazy as a 100% tax.
There’s also a moral question of why you feel entitled to not just a majority of the fruits of my labors, but apparently all of them.