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by myrmidon
19 days ago
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I'm not arguing against wealth taxation, my point is just that the amount you can extract that way is too small relative to pensions, even under extremely generous assumptions (in Germany, you'd need a ~7% yearly tax on all wealth to pay for pensions, which would be super insane compared to the income-based scheme used now). The narrative "rich people took/take all the money that's needed for pension funding" is simply incorrect, and that is what I primarily wanted to argue against (the pension funding problem is an order of magnitude bigger than wealth inequality right now). |
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That's also how much the stock market grows by on average.