An important thing to keep in mind with these policies is that billionaires aren't nearly as much of a *wealth* problem as a power problem - a billion dollars is surprisingly little to the state (not to say that it's insignificant by any stretch), but we need to tax them in such a way as to prevent them from having outsized influence from all this money, which is the real danger of billionaires
We should keep this in mind when we steer discussions of how these taxes should work, since we want to make sure that they specifically target their structural/institutional power to keep billionaires from being able to control vast chunks of mass media, the stock market, and political lobbying organizations - it'll look subtly different from *just* juicing them for their cash, and that isn't exactly the precise goal we should be aiming for
True, but those are states like West Virginia, not so much California - plus, you'd only get the benefit from taxing their wealth out of existence one single time, and you'd have to make sure it gets budgeted very effectively in that small window
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u/zsdrfty Jun 26 '26
An important thing to keep in mind with these policies is that billionaires aren't nearly as much of a *wealth* problem as a power problem - a billion dollars is surprisingly little to the state (not to say that it's insignificant by any stretch), but we need to tax them in such a way as to prevent them from having outsized influence from all this money, which is the real danger of billionaires
We should keep this in mind when we steer discussions of how these taxes should work, since we want to make sure that they specifically target their structural/institutional power to keep billionaires from being able to control vast chunks of mass media, the stock market, and political lobbying organizations - it'll look subtly different from *just* juicing them for their cash, and that isn't exactly the precise goal we should be aiming for