Wow you're right, I'm sure everyone would much rather the economy collapse because people can't afford food or rent rather than do anything to make billionaires pay their fair share.
S&P goes up 7-10% a year, and you think an evenly applied property tax on assets, realized or not, would make people move that money to a place it's not growing? Tax them wherever their money is. If they wanna lose more money by taking their money out of the growth machine, by all means. But it'll be taxed and put back into the economy that relies on the workers, not the parasites on top. The scenario you've been conditioned to parrot assumes a lack of enforcement, but I think you're just not creative enough. A properly motivated U.S. government could 100% force a proper solution.
U.S. already levies taxes on expats... Enforcement is only a problem if there's no motivation
Yet progesives want more than they make each year! Their goal is to destroy wealth as they have said they want no billionaires! They want government to control all major wealth in the USA! Bad enough they spend 7 trillion a year it’s not good enough they want to wipe out the billionaires and their 9.4 trillion, or roughly 1 year of spending by congress! So you take it all then what? Who is next that’s right millionaires. Now we are all poor! It’s ridiculous
Assuming taxed money simply disappears into a void.
Assuming I care that someone who made their money exploiting labor and being subsidized by existing programs is now simply a multimillionaire. How does "no more billionaires" mean everyone's simply poor now? You're being disingenuous here. Before corporate greed spiraled out of control, a person could buy a house and support a family with multiple kids on a single-income simple job without an education. That's not poor.
So assuming progressive safety nets mean anyone on the bottom is truly poor.
Unsourced numbers.
I'd rather a government poised to do something productive with the money use it than it simply being hoarded.
You're using bad faith arguments, and have no understanding of where your money goes or what progressives advocate for. Someone think of the poor billionaires? You're ridiculous.
Wealthy people paying their fair portion of taxes would have the opposite effect, actually.
We already did this with the New Deal, which created the middle class and funded our modern infrastructure. It brought about the most widespread economic prosperity in our history.
These uber wealthy are simply parasites on our society. They want the benefits of being in our society, while not paying their portion.
Government didn’t create the middle class! The fact Europe and Japan was destroyed did! Had Europe and Japan been full force immediately after ww2 they would have eaten our lunch just like the 1960s and 1970s, issue is you romanticize a period of time that really didn’t exist, but for a very small group of people.
New deal didn’t crash the economy. Was responding to https://www.reddit.com/r/PoursTea/s/I3EY1LA53y it’s like when they claim taxing billionaires makes them leave. Theres no empirical source that proves it.
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u/Blacksad9999 Aug 24 '26
Right, which is what all rich people are doing: Living on low interest loans on their accrued investments.
That's exactly why we need to tax unrealized gains on stocks, just like normal people do on their property taxes.