A billionaire I know once told me “My taxes are so low it’s obscene.” There should be a #WealthTax of 2% on assets over $50M & and an additional 1% on assets over $1B. Our government’s groveling at the feet of the ultra rich is the surrender of our democracy to oligarchic rule.

Jul 5, 2021 · 6:39 AM UTC

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Replying to @marwilliamson
Say who it was or don’t say anything at all. Really unhelpful 🙄
Replying to @marwilliamson
No. Because that threshold will surely drop to ensnare us all.
Replying to @marwilliamson
Well bless his heart. Did offer to voluntarily pay extra in taxes? Did he have accountants working to keep that tax so low?
Replying to @marwilliamson
This is only part of the solution. The other part is creating advantages for small business to better compete with big business so we don't get so much wealth concentration to begin with. Perhaps no payroll taxes for small biz. Or no income tax for sole proprietors up to $100k.
Replying to @marwilliamson
That is insane.
Replying to @marwilliamson
A flat fee ceiling is reasonable - they wouldn't avoid a flat fee and it's easier to social shame. Plus, our government should ACTUALLY make drugs like cocaine "controlled substances", meaning made in America and taxed.
Replying to @marwilliamson
Bad take. There should be no such thing as a billionaire. Grovel at their feet much while talking about groveling?
Replying to @marwilliamson
For the last time, MW, we do not have a functioning democracy. We live in an oligarchy and they set the rules we’re grovel along with….
Replying to @marwilliamson
Many would be happy to@pay more taxes if they felt Uncle Sam could manage things properly and without graft and so donate privately.
Replying to @marwilliamson
Any wealth tax needs to be substantially higher than inflation or its just a bandaid on a bullet wound.
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