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by pishpash 3071 days ago
Half (46% in 2013) of all Americans owned some financial wealth, that's already counting indirect investments -- I believe this number came from a study by Ed Wolff. In the same year (2013), the bottom 80% together owned about 5% of the financial wealth in the US, under the same definition counting indirect investments (80%-99% owned about 50%, 99%-100% owned about 45%). So no, "everyone" does not benefit in the same way from corporate wealth and "regular people" (the bottom 80% seems like a pretty good proxy) have basically nothing to do with it, even in aggregate -- forget about per capita.

As for not taxing corporations at all and instead fully taxing dividends and gains, that's a different discussion with its own merits.

1 comments

That’s kind of like saying that because I have a house on a tiny plot of land and my rich neighbor owns half the land in town, that property taxes don’t affect me. It doesn’t really follow.
It certainly woudn't affect you as much as your rich neighbour. And if the additional tax on land brought in more community services, you would be all for it, whilst your neighbour would be against (since he'd be paying a majority of that cost to fund said community service).