Tax the rich!

Forum Forums Kafeneio Chats In a Greek kafeneio Tax the rich!

  • This topic has 9 replies, 6 voices, and was last updated Jan 26-4:38 pm by oops.
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  • #50777
    Forum Admin
    anticapitalista

      Earnings of wealthiest 10 men during pandemic ‘could buy vaccines for all’

      http://www.bbc.com/news/world-55793575

      Philosophers have interpreted the world in many ways; the point is to change it.

      antiX with runit - leaner and meaner.

      #50779
      Member
      Murdock2525

        But they all secretly use Macs.

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        #50781
        Member
        Murdock2525

          murka…

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          #50785
          Anonymous

            FYI
            http://personal-view.com/talks/categories/blog

            The “blog” is actually a subforum (a ‘Category’?) presented in a forum website.
            Almost every day, across years, Vitaliy_Kiselev and MikeLinn have posted an interesting blend of (anti)capitalism, global economics trends, and technology topics.

            #50786
            Member
            Xecure

              How can you know who wrote the BBC article? I never trust articles not signed, but I also distrust the ones signed (but at least I can investigate the author).

              antiX Live system enthusiast.
              General Live Boot Parameters for antiX.

              #50787
              Forum Admin
              anticapitalista

                How can you know who wrote the BBC article? I never trust articles not signed, but I also distrust the ones signed (but at least I can investigate the author).

                The original research is from Oxfam, which also links to other research.

                http://www.oxfam.org/en/press-releases/mega-rich-recoup-covid-losses-record-time-yet-billions-will-live-poverty-least

                Philosophers have interpreted the world in many ways; the point is to change it.

                antiX with runit - leaner and meaner.

                #50798
                Member
                Xecure

                  The original research is from Oxfam, which also links to other research.

                  http://www.oxfam.org/en/press-releases/mega-rich-recoup-covid-losses-record-time-yet-billions-will-live-poverty-least

                  Thanks for that, but the problem is that only some of the information of the Oxfam article is used by the BBC author, and there are a few inaccuracies related to the other numbers posted (not related to the oxfam article).
                  When I see this I normally check other articles written by the same author, to see if they usually are this inconsistent and if they have an objective in their articles, not about informing but by manipulating information, leading people to accept the conclusions they want.

                  Going back to the main point in the article, I agree with returning the flow of money back to where can be useful, and not in the hand of a small group of individuals. The problem with these super-rich is that they have most of their wealth not in physical assets, but in stocks, which are not taxable except if they are sold (or at least I think this is how it works, I may be wrong).
                  A better solution, in my opinion, is to control heritage tax. People live and die, but the biggest problem that keeps inequality is that families share their wealth (and expand it) through the ages. If the inheritance amount can be limited (maybe max 10 million per heir, maybe max to 20 people), and the rest (be it cash or assets) would flow to their nation (a discussion would sprout, between the country where the person died and lived the last X years of their life or the one related to their passport nationality), making high taxes unnecessary.

                  The problem then is governments (and the high rate of corruption), but this would probably solve a lot of problems.
                  Excessively high taxes only leads to the rich moving their riches covertly (and not so covertly), as I have seen in my country in the last ten years.

                  If someone becomes rich with “their own effort” (as Americans propagate to the world as the ideal of success, “a self-made entrepreneur”), they can rejoice and continue living and spending their money in their country (I don’t know how VAT works in other country, but I would guess most of the money received by my government comes from VAT), creating work there, etc. And later when they die, the country can inherit their success, making it prosper even more.

                  Hahahaha! I don’t think this could convince a capitalist, who believes that their wealth and property are theirs and for their descendants, for them to decide where it should go. “No government can take what is mine and of my children by force!” Isn’t 10 million more than enough for each child? “There is never enough!”

                  antiX Live system enthusiast.
                  General Live Boot Parameters for antiX.

                  #50799
                  Moderator
                  BobC

                    Not trying to say those people have earned what they got, but I think the underlying reason is that the Central Banks are Counterfeiters. They just print whatever they want. There is no need for taxes at all anymore. Something tells me that just can’t be right, but here it is in black and white. 72% increase in money supply in 2020 alone.

                    PS: I think I know who got most of that money they printed! If only they could print things people need instead.

                    • This reply was modified 3 years, 2 months ago by BobC.
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                    #50837
                    Anonymous

                      the (my) contrarian viewpoint:
                      The motivation to shelter one’s assets is usually not borne of greed, it’s a matter of self-protection.

                      In the U.S, creation of an irrevocable trust can, in addition to dodging inheritance taxation, provide shelter from personal liability suits, personal bankruptcies, etc.

                      My dog bit your cat, so you’re gonna sue “me”?
                      Nursing home or hospital or ??? wants to file a collateral lien against “my” property?

                      http://en.wiktionary.org/wiki/blood_from_a_stone

                      #50867
                      Member
                      oops

                        Earnings of wealthiest 10 men during pandemic ‘could buy vaccines for all’

                        http://www.bbc.com/news/world-55793575

                        Right, of course, in fact at one time, fundamentally by empiricism, taxing the rich is very much easier and efficient than taxing the poors.

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