also billions of dollars is just an insane amount of money
even someone having millions of dollars can still only add up to a tiny percentage compared to someone having billions of dollars
the thing is that you can comfortably live without millions of dollars. im not as extreme as like booting all of the rich out of their homes and income but the general consensus is that the divide needs to be way more balanced than it is
I think even you miss the greater problem.
Its not about them owning billions or trillions of dollars
Its about how much of the money supply they own.
And they own an absurd ratio. Back in 2009 the top 1% owned 50% of the money.
That was 12 years ago and things have only gotten worse. .
There needs to be a ratio based limit. Thats why taxation is always a percentage not a dollar amount. Atleast on the taxed amount... However the brackets themselves arent properly being adjusted or broken up.
When people like bernie say the rich aren't paying their fair share, it's because they hold more tax responsibilty for how much money they make.
However the rich have managed to lower taxes on themselves and raise taxes on the mid and mid-high tier class people.
We need a more advanced tax system that deals with stagnant cash and assets that exceed a certain percentage of the money supply in the high end of the tax brackets.
Yes, after a certain point, and if you understand tax bracketing this wont scare you, but if you do youll think we're "taking all their money!!"
But at some point a 100% tax bracket is necessary. A top. A lid.
If an individual can buy policy they have too much money.
If an individual can own even 10% of the land in the U.S. they have too much money.
There needs to be a line. Because money isnt an ambiguous number, its an amount of the money supply.
When money is printed and inflation goes up, the rich will tend to freak out and point at venezuela. However, the rich are the ones who suffer the most under inflation, not the middleclass and poor. So when they print money out the ass like they did last year, youll notice the rich got substantially more than any average american did.