[Gustomaximus]

I feel this abolish billionaires movement needs some tweaking.

History has many examples of people changing the world for the better and getting filthy rich doing so. If we start wealth taxing these people to limit their resources you are limiting their ability to push boundaries and hopefully advance society.

Where I feel the issue sits is with dynastic wealth. Just because grandpa did something, great grandchildren 10 generations on shouldnt be expected it's their right to be sitting on massive trusts of assets.

And I think this limits society if we let capital accumulate for a bunch of reasons but mainly 1) we become a divided society with little social mobility, 2)we lose innovation as people sit on assets and industries reduce competition. And poor people don't have the access to time or resource to innovate themself and 3) most importantly if we let small groups of elites run the country they stop caring about services that matter to most people. Things like schools and hospitals become cost lines to be reduced because they or their kids will never use the public system so that increasing teacher ratio, or longer waiting lists become less meaningful.

[empath75]

Carnegie wrote about this 100 years ago in the Gospel of wealth and that’s why we had estate taxes and a high top marginal tax rate.

[masonic]

... and no wealth tax.