Communist & Socialist Politics

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A political community for those who have communist and/or socialist beliefs and who are 100% opposed to Republicans and Democrats and who understand that voting doesn't work. Because you can't vote out fascists and oligarchs.

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founded 8 months ago

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zerkrazus

Tax the Rich Is Actually a Popular Bipartisan Stance, Poll Shows (www.bloomberg.com)

submitted 8 months ago by zerkrazus to c/communistsocialistpolitics

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While I agree that the rich need to be heavily taxed, income is only one component. Most of their wealth is potential wealth, that is it's in the form of stocks and the like and thus they don't pay taxes on it until they sell it. This is why we need a tax on holding stock too (based on dollar value of that stock). Maybe do it quarterly or monthly, I don't know, and take the average value of it during that period and that's the amount they're taxed on.

The corporate tax rate is a joke and a half and needs to be doubled or tripled IMO. The 1950s which a lot of older folks have rose colored nostalgia for, had tax rates up to 50% for corporations. It's time to bring that back. There was also the 90% tax for rich individuals. Bring that back too.

If the rich or corporations don't like it, too fucking bad. They can leave and fuck off. They need us, American consumers, more than we need them.

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