History tells us the the US was most prosperous when taxes were at 90% for the wealthy and corporations than could ever possibly be under the current absurdly low or non-existent levels. Everybody knows this. Reagan eliminating those tax brackets was an utterly failed policy, and we have been paying out of our pockets to bail out their continual and repeating collapses every 7-10 years since then, with the first one happening on Reagan’s watch.
Nobody is actually suggesting income tax brackets here, they are suggesting taxing loans and taxing wealth. The things being suggested here have never been done, and yes they are radical because nobody had been crazy enough to implement these ideas ever in the whole history of the US.
There are ways to use loans to hide and hoard wealth. That shit is evil and certainly should be taxed, if not prosecuted. Not sure if that’s what you’ve been reading, but it’s a thing.
Most of the wealth these billionaires have is ownership in their own companies, to take away that ownership because it’s worth too much according to the stock market is insane
Stocks are supposed to be a way to raise capital; the concept of someone being paid in stock to their own company is insane. Its a way to have all the wealth without it being taxable, which is also insane.
Why do you think stock has value? It’s because it’s a piece of ownership of the company. Yes it’s a way for the company to get some capital, but it’s also the way for private company owners to cash in on their company being successful.
Why is being paid in ownership insane? It’s directly tied to the performance of the company, if the company does well the stock does well, and it’s incentive to drive the company in the right direction to reward employees of all levels with stock.
It’s insane to tax this ownership, it’s not worth the amount it looks like. If an owner had to sell their stock, the stock value would plummet not only because of the huge uptick in supply of stock available to trade, but because the person running the company now has little to no stake in the success of the company.
You know who this also screws over? All the middle class people trying to retire on their stock values going up. You tax wealth, stock values will plummet, and there goes the middle class retirement, no thanks!
You don’t know what a hedge fund manager is, do you? There is an entire industry built upon destroying companies and their stock values because they’re completely arbitrary, which makes them a TERRIBLE retirement vehicle.
It’s like you’ve never seen a stock report; you’ve only heard Sean Hannity talk about “the economy”.
So then you understand that it isnt in fact "radical"
It is radical though, especially given the context.
History tells us the the US was most prosperous when taxes were at 90% for the wealthy and corporations than could ever possibly be under the current absurdly low or non-existent levels. Everybody knows this. Reagan eliminating those tax brackets was an utterly failed policy, and we have been paying out of our pockets to bail out their continual and repeating collapses every 7-10 years since then, with the first one happening on Reagan’s watch.
The only radical here is you.
Nobody is actually suggesting income tax brackets here, they are suggesting taxing loans and taxing wealth. The things being suggested here have never been done, and yes they are radical because nobody had been crazy enough to implement these ideas ever in the whole history of the US.
There are ways to use loans to hide and hoard wealth. That shit is evil and certainly should be taxed, if not prosecuted. Not sure if that’s what you’ve been reading, but it’s a thing.
Most of the wealth these billionaires have is ownership in their own companies, to take away that ownership because it’s worth too much according to the stock market is insane
Stocks are supposed to be a way to raise capital; the concept of someone being paid in stock to their own company is insane. Its a way to have all the wealth without it being taxable, which is also insane.
Why do you think stock has value? It’s because it’s a piece of ownership of the company. Yes it’s a way for the company to get some capital, but it’s also the way for private company owners to cash in on their company being successful.
Why is being paid in ownership insane? It’s directly tied to the performance of the company, if the company does well the stock does well, and it’s incentive to drive the company in the right direction to reward employees of all levels with stock.
It’s insane to tax this ownership, it’s not worth the amount it looks like. If an owner had to sell their stock, the stock value would plummet not only because of the huge uptick in supply of stock available to trade, but because the person running the company now has little to no stake in the success of the company.
You know who this also screws over? All the middle class people trying to retire on their stock values going up. You tax wealth, stock values will plummet, and there goes the middle class retirement, no thanks!
You don’t know what a hedge fund manager is, do you? There is an entire industry built upon destroying companies and their stock values because they’re completely arbitrary, which makes them a TERRIBLE retirement vehicle.
It’s like you’ve never seen a stock report; you’ve only heard Sean Hannity talk about “the economy”.