This hot take is unnecessarily defeatist and smacks of the rote defense for maintaining the current power structure, namely "the world is too complicated maybe we shouldn't try".
I'd like to mention that we had significantly higher corporate, inheritance and income taxes in the 40s to 70s and it absolutely did moderate growth of billionaire wealth.
If such a thing is implemented in some form by all, or even most, major global national entities it could have a very positive impact on future global development. It won't be perfect but we only need to work to improve. And currently having billionaires control trillions leaves much to improve upon.
I guess it comes down to how one answers the question - do taxes exist to support the country and its means, or enforce economic distribution with the benefit to social welfare?
This hot take is unnecessarily defeatist and smacks of the rote defense for maintaining the current power structure, namely "the world is too complicated maybe we shouldn't try".
I'd like to mention that we had significantly higher corporate, inheritance and income taxes in the 40s to 70s and it absolutely did moderate growth of billionaire wealth.
If such a thing is implemented in some form by all, or even most, major global national entities it could have a very positive impact on future global development. It won't be perfect but we only need to work to improve. And currently having billionaires control trillions leaves much to improve upon.