At best people like him should get to KEEP 2.5 % of their wealth. More reasonable, likely, will be TJ jail them as few billionaires can claim to gave gotten there without stepping on the back of someone. Elmo personally should be jailed for life.
Also, we don’t need religions for tax. Just tax the rich fucking bastards
Give 2.5% of their wealth, each year, not just give 2.5% of their income. There’s a huge difference.
Wealth gets taxed every year, unlike income which gets taxed only once. So in 20 years, the wealth tax is roughly 20*2.5% which is 50%. And in 30 years it’s closer to 75%.
2.5% of his wealth is nothing, he quite easily gains or loses ten times that in a year
Set a maximum amount of wealth per person each year. Anything you earn over that automatically goes into a 100% bracket.
There literally is no reason why one person should be allowed to have a billion dollars in wealth, whilst another person is homeless and needs to waddle into crime to be able to feed themselves
10 million total wealth. That sounds like a reasonably sane maximum anyone should ever have the power over. Anything above that, taxes.
Elmo give 2.5% of his wealth?
Fuck that shit.
At best people like him should get to KEEP 2.5 % of their wealth. More reasonable, likely, will be TJ jail them as few billionaires can claim to gave gotten there without stepping on the back of someone. Elmo personally should be jailed for life.
Also, we don’t need religions for tax. Just tax the rich fucking bastards
I think Bill Gates and the Gates Foundation pledge means keeping only 7% of annual income and it’s still too much.
Anything over 10 million should be automatically 100% tax
You seem to be misreading.
Give 2.5% of their wealth, each year, not just give 2.5% of their income. There’s a huge difference.
Wealth gets taxed every year, unlike income which gets taxed only once. So in 20 years, the wealth tax is roughly 20*2.5% which is 50%. And in 30 years it’s closer to 75%.
That is exactly what I’m saying.
2.5% of his wealth is nothing, he quite easily gains or loses ten times that in a year
Set a maximum amount of wealth per person each year. Anything you earn over that automatically goes into a 100% bracket.
There literally is no reason why one person should be allowed to have a billion dollars in wealth, whilst another person is homeless and needs to waddle into crime to be able to feed themselves
10 million total wealth. That sounds like a reasonably sane maximum anyone should ever have the power over. Anything above that, taxes.
sounds reasonable IMO
But it is not 0.025*50. It is 0.975^20.
is roughly the same
the first results in 0.5, the second one in ~0.6.
but you’re right, from an analysis point of view.