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How is that supposed to happen in a capitalist system, where, by definition, those with billions in capital have obscene, outsized political power? They are the ones with the power to tax, not us.

Disagree - we have power in numbers. While there’s still a shred of democracy, which there is, we can vote to change this 🤜⭐️

The cool part is that I’m pretty sure that adequately taxing billionaires can alleviate the tax burden for most of the rest of society.

No, it can’t, not if people want at least standard Western European-style social-democratic services, let alone the harebrained socialist vision many here on Bluesky advocate for.

What I mean is that it won’t completely eradicate taxes, but it can lower them for 99%.

How many if the problems we face today could be solved by making billionaires extinct? We leave them 500 million each and take the rest and invest it in schools, research, a decent healthcare system, public transportation, communications infrastructure and public support services.

Okay, but if you start a successful company and its valuation goes over $500M, should you be forced to sell it? What about Taylor Swift, who fought to own her music catalog, should she be forced to sell it again? A federal wealth tax would also be unconstitutional, but let’s ignore reality for now.

No one has contributed a $billion worth of value to society. If you’ve “earned” that much, you’ve done it by not paying others what they’re worth or thru investments that should have been taxed higher. But more importantly the influence that money buys is very dangerous. No one should have that.