this post was submitted on 04 Mar 2025
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It's sad that even the idea of a very high tax rate for even the top 0.1% is off the table. I really like the suggestion of capping net worth at $999 million and the government gets the rest.
How does that work when for example a single company is worth two billion? Does the government now own >50% of it?
Easiest implementation would be shares start getting shared to all other employees. No more big owner when profits come from the laborers.
Could you imagine the talent pool the most profitable companies would have if all net profits over X billion dollars were automatically redistributed to it's labor force? Suddenly the wealthiest middle class on earth would be in the US until then somehow clawed that money back.
It's a question of wording in OP's post - basically you tax based on net worth. And yes, boohoo it may mean you sell some of your buildings or part of your company to get there - including to things like Employee Ownership Trusts and other perfectly acceptable "curbed capitalistic" options.
It's still capitalism, don't get your dollar-bill panties in a bunch folks, but not savage unfettered capitalism, that's all.
Why do you think Bezos is repurposing the Washington Post to become an agent of "the free markets"? The writing is on the wall...