You're saying we shouldn't tax the rich because eventually it might be used to tax the less wealthy? That's a lot of "might" on something that should otherwise positively impact a lot of problems with wealth distribution in the US.
The more principled stance here, is "What value are shareholders providing to companies whose shares they hold?" Like, why do I care if we tax you based on your holdings in a space that has historically been used to dodge taxes? Especially when I think the good of taxing the ultrawealthy and subsequently anyone making a lot of untaxed gains through dubious avenues (making building ultrawealth harder) far outweigh the negative consequences of taxing more middle-class folks who happen to have stock.
Like, if the concept of a 100-millionaire goes away, then we necessarily strengthen people with less wealth (middle class). And before anyone calls this "class warfare", it's definitely class warfare, just currently the ultra-wealthy are winning.
>You're saying we shouldn't tax the rich because eventually it might be used to tax the less wealthy?
No, what I said was:
>>If the government puts in the effort to develop systems to track/process/etc a new kind of tax like this, no one should pretend it will only ever be used agains the ultra wealthy. If anyone doubts this, you need only look at the Alternative Minimum Tax:
>...far outweigh the negative consequences of taxing more middle-class folks who happen to have stock.
The older I get the more I realize just how envy-driven people can be.
I would be taxed more according to what you're saying, and I'm still advocating for it.
I recognize that the benefit to society of having better distribution of wealth far outweighs any potential cost to myself in the scenario where this gets expanded.
The more principled stance here, is "What value are shareholders providing to companies whose shares they hold?" Like, why do I care if we tax you based on your holdings in a space that has historically been used to dodge taxes? Especially when I think the good of taxing the ultrawealthy and subsequently anyone making a lot of untaxed gains through dubious avenues (making building ultrawealth harder) far outweigh the negative consequences of taxing more middle-class folks who happen to have stock.
Like, if the concept of a 100-millionaire goes away, then we necessarily strengthen people with less wealth (middle class). And before anyone calls this "class warfare", it's definitely class warfare, just currently the ultra-wealthy are winning.