Not taxing the rich would be deadly to the rest of the humanity

“Poverty exists not because we cannot feed the poor, but because we cannot satisfy the rich.”

There are few different economies. The top 1% own the businesses, top 10% own shares and investments and the 90% who just work paycheck to paycheck.

This guy is not talking about the 90%.

I have a game, where every time I hear or read "the economy" in the news, I replace it with "rich fucks' money" in my head - works really well, and in many cases is actually closer to reality than the original news...

Richest man

French economy

We don’t need them or their ill gotten gains.

I’m sure he is saying that from a completely objective position and has no personal stake in it whatsoever.

Every time they whinge about leaving if they get taxed and they actually do get taxed, they stay. Because it's hard to move your fortune off of the source.

The Zucman tax is absolute minimum of what's required at this point. It should be higher, it should be progressive, and it should start at lower levels of wealth. Moreover, in the future it should be applied globally and yearly.

I propose a simple, practical test: ask anyone with more than 100 million dollar or euro what their exact wealth is. The difference between what they say and what it really is, that can just be taxed away. It's going to be more than 2%.

I feel like for balance they should also talk to Europe's poorest man.

If the economy dies from barely taxing this cunt, let it fucking burn.

...Good?

“aims to destroy the liberal economy, the only one that works for the good of all”.

Lmao. Seriously dude?

That's why you don't ask those people about these topics.

No shit, Sherlock! No ask someone without money in the game.

Deadly for who?

I wonder if he thinks a wealth tax or a guillotine would be deadlier

The idea of a 2% wealth tax on fortunes worth more than €100m has been proposed by Gabriel Zucman, an economics professor who has become a household name in France.

I fully 100% agree.

The reason why the tax exempt amount is $100m is sothat 99% of the population have less than that amount in total wealth, so they pay no taxes at all; that's why it should be widely popular. At least parties like the AfD can't argue that it "hurts the small man", because that's simply not true.

I think that a wealth tax can only work if it's combined with import taxes, because otherwise companies just leave the country and go somewhere else to produce their products. To prevent them from doing so, they have to suffer a disadvantage if they do that, so they have to lose access to the market, for example, by implementing import taxes.

and in other "news", men who had exclusive-of-all-non-men rights, have asserted that allowing women to have civil-rights, would be bad, too..

and white-supremacists have asserted that allowing non-whites any validity would be bad, too..

Duh!

Rigged-privilege protects itself, using all ideological disinformation it can!

it always has, it always will.

But why would this be deadly for the overall, if it removes feudalism/oligarchism's validity/economic-might/rights-are-exclusive-of-the-regular-citizenry paradigm?

Gaslighters need to be controlled/limited, not platformed/boosted/validated.

Read the important "Screwed" by Thom Hartmann, for REAL and ACTUALLY EVIDENCE-BASED economics..

Here's a not-affiliate link to the actual book, so hopefully you can read a sample & begin understanding why I'm recommending it.

https://www.kobo.com/us/en/ebook/screwed-47

I'd tried understanding economics for decades and something was "off" about everything the textbooks were pushing, which got clarified in Hartmann's book, right up front.

Economic-strength is citizenry based, and NOT mere-wealth/stocks based!!

Duh!, right?

But until Hartmann's book, I'd not seen the correct framing for economic-strength, in ANY book on economics!

Sad, and true.

Get clear understanding: it de-stresses one's view, & therefore one's whole mode of living, to good extent!

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I know this is a lot of math but this is my tax plan:

• The government prints money and gives it out to the people, but has to tax it back at some point to create real demand for the currency, otherwise the currency devalues and becomes meaningless.
• Since the government has to sooner or later tax back all money it hands out, the total government balance is always close to 0; i.e. there's no substantial government debt.
• The government hands out the money directly to the people. It is really a hand-out and not a loan-out. Big banks can also take credits, but these are loans, not hand-outs.
• The people continue to spend their money for products. A low sales tax would mean higher amount of sales and therefore higher revenue for companies.
• The companies get money from sales, but the companies can't meaningfully profit. If they profit, where does the money go? The shareholders can't invest that money anywhere meaningfully, since the market is already fully grown and new investments simply aren't worth that much. So, since profits are less meaningful, the company lowers their sales price to reduce profit, which in turn increases sales amount. As the company profits converges to zero, all the company's income is spent on expenses - either labor expenses or expenses in materials.
• The materials either come from agricultural farms, or from mining operations. Since these two can also be looked at as companies, the same applies and they will eventually lower their profit to the point where all their expenses go either towards wages or material expenses.
• The lower that sales taxes are, the longer the journey of the dollar is before it finally gets taxed back by the government.

"In a statement to the Sunday Times". A newspaper that was never going to be read by people without significant means.

France tried this is the late 80s, 10-12,000 millionaires left and it lost money overall so they scrapped it. A wealth tax doesn't work in Europe where it's so easy to leave.

But my understanding is France is already pretty tax heavy, so I don't know of a better tax revenue solution.