What are the chances that he will even get 50 Dem votes in the Senate? From this side of the Atlantic (right side) there doesn’t seem to be any chance of it happening.
What is all of the hot air expelled for? Nothing.
Besides, it’s just “lit up”, it doesn’t mean that they will do anything to stop it. There will always be politicians who are either involved in the same plans or financially supported by people who are. Politicians have talked about taxing the rich for decades and they never do anything about it. Everyone works for money and most people can be bought for the right price. The recent ProPublica tax leak showed billionaires get away with minimal taxes.
These plans won’t go away. The only way to successfully tax the wealthy is to tax their transactions and their wealth, only taxing income is easily avoidable.
Politicians are mostly just mouthpieces who do not bring about meaningful changes. Some of them say that things like billionaires shouldn’t exist. OK but how? When someone starts a business with a billion customers and owns a significant portion of its sales, they become a billionaire. If you’re a cash billionaire, the government can take some of your revenue, but you still own the revenue of a billion people. If you are a stock billionaire, the government cannot take anything away from you because that is your control over your company.
Billionaires will always exist and tax avoidance will always exist no matter what people say to stop it.
In terms of supporting tax avoidance, it’s understandable that people would view taxes as being stolen by a government that didn’t make the money, but the economy is a closed system. The only money that is in circulation is what the government has put there. So when concentrated in small pockets, it causes great damage to everyone else’s quality of life in the form of fewer jobs, lower salaries and cuts in public spending. The people on the lower end are circulating almost all of their income back into the economy. Lots of people at the top are hoarding it and just want to keep amassing more and more fortunes and that affects the folks below:
The economy as a whole is a pretty strange system. Throughout life people are taught to get a job or invest in real estate / business, but the way businesses make money is by selling products and services at profitable prices to the same people who are trying to earn a salary or grow their investments in the companies they shop with. This loop is obscured by the number of companies, but this system can only lead to concentration of wealth if the areas of concentrated wealth are not heavily taxed.
I think it’s important to distinguish between different types of wealthy people. Elon Musk and Jeff Bezos are billionaires because they own companies that make billions in sales, but that doesn’t mean they automatically harm the economy. When they invest their earnings in their products and services, the economy will keep it going. The more detrimental types to the economy are the hedge funds and the banking system, who invest money and try to increase their pool of possessions – these people are driven by greed.