@InternetEh same tbh. i feel like it may be wishful thinking a little but, but if we don't wish for a better future we *definitely* won't get one.
@FuchsiaShock problem is: they get taxed in most cases. But they own no wealth personally - but a company that owns things. And they can take debt against that.
If you take that money out or sell your shares you get taxed like everyone. They just choose not to (or mustn't do so due to contracts).
@FuchsiaShock as said.. Taxes on what? Things they don't own personally?
Taxes on money you already paid taxes on?
High income-taxes only solve parts of the problem..
@Drezil if they own it they pay taxes on it. a proper amount of taxes, not the ridiculously low taxes they usually pay if they're even paying them. if they put shell companies around it and thus want to claim they don't own it and don't need to pay taxes on it, then i guess they can't complain if we take it.
@FuchsiaShock example: you own a house for 100k. The house goes up in value. When do you pay taxes on that gain?
At the moment you pay, when you sell.
Same for billionaires who own Amazon .. The taxman only comes when you sell, not when you hold.
The problem is that it is hard to estimate the value of something when it isn't sold.
The taxes will get paid when someone inherits... But that can take a long time.
The current system isn't great.. But I don't know how to make it better.
@FuchsiaShock main problem is that the companies never pay taxes.
If a billionaires company would pay up then he/she won't be a billionaire long... ;)
@Drezil i don't believe it's ever possible to justify one person holding such an obscene amount of wealth anyway, so no biggie.
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