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It's not nearly a high enough tax rate, but it's always good to take money away from billionaires.
Problem is, this kind of shit that is far far far from enough is enough to placate centrists and liberals who see it as a win and are happy to leave the system that enabled the vast inequality that this is so feebly trying to fix, in the first place, chug on uninterrupted.
This isn't even pocket money to those it is designed to impact, to think it would change their ways or the system in any way is absurd at best.
Absolutely. Liberals will see "new tax on billionaires" and break out the confetti, but it's literally "between the couch cushions" money to them. I don't know about them, but the money taken through my effective tax rate genuinely could impact my life for the better. At the very least, there's a chance radlibs will see through this one. I know something like this would have put me past the line back in the day.
The only one that's almost reasonable is the lowest tax bracket, which would be better at 4%. For the rest, I'd double it and add 2%. That's almost approaching something fair in the capitalist system
that's the problem - there is no such thing, the unfairness is built in to the system, it's not a bug.
Which is why the whole system needs abolishing, and not just its symptoms addressed.
I hate to preach to the choir, I just feel like these things need repeating as often as possible..
But abolishing the system might hurt the economy. /s
Yea, bit of an oxymoron there lol my bad
Think of the tactics applied from the other side. It's seldom groundbreaking but often slow and gradual.
It's a wealth tax, those are pretty aggressive rates.