Wealth tax, equality tax

[veqsms]

 

This may take decades to implement but is necessary for increasing human well-being overall.

[Bobby_2021]

You will not reduce inequality by taxing the rich.

It's mindbogglingly  hard to implement and it's yet to see if it will seriously reduce inequality in the long term. The rich will keep getting richer and that's how the system is designed. You need to simply change that system by turning the right knobs.

Taking away some money from the rich is akin to throwing money at a problem and expecting it to solve everything.

There are far more creative and tangible ways to reduce inequality. When you implement those policies you start to face real resistance. Even Nanci pelosi, Bill Gates and Buffet advocate for tax the rich policies because they know that this is a dead horse. Nothing good will come out of it. 

It's not an easy problem to solve and it requires you find a solution that hit it at the root. Tax the rich is not one of those solutions. It may be the fifth best solution to reduce inequality which comes at a huge cost of administration.

[veqsms]

@Bobby_2021

I know it is complicated topic, but at the same time this phenomenon is a real problem,

the reason these super rich acquired their wealth is mostly they were born in USA or other developed countries and NOT in africa or Middle east and other places (im talking about those that have some merits for their wealth) so they should be forced to pay extra money for commmon good.

[Bobby_2021]

Don't think in terms of inequality. Think in terms of absolute wealth. USA has been phenomenal in building absolute wealth. The inequality is a feature of building astronomical wealth.

I am not promoting inequality, but inequality will always be there in all societies regardless. 

Is US is so unequal, why are people flocking to move to US from almost all places in the world. Since that's the system that gives everyone the most opportunities for wealth.

Even I used to purport the idea of a wealth tax. But there are so much obvious problems with it. Then I realised that it's impractical and politicians are merely paying lip service to it. 

 

[Bobby_2021]

10 hours ago, veqsms said:

so they should be forced to pay extra money for commmon good.

I totally agree.

But you don't need them to "pay" for things of common good. The government can simply fund things like it always did. Government just prints money and funds things.

Think about how did American finance the invasion of Iraq. They simply didn't need anyone to pay for it even though it costs 2T.

Likewise you don't need the rich to pay for things of common good.

That's an additional unnecessary hurdle you are getting infront of things of common good.

You certainly don't need anyone to pay for it.