Bloomberg reported yesterday that if Sen. Sanders implemented his highly progressive tax plan, billionaires could face an effective tax rate of up to 97.5%. This will be met with complete apoplexy amongst the ruling-class, but, apart from the fact that it is entirely correct that governments use punitive tax regimes to discourage socially destructive behaviour such as ruthless exploitation and wealth hoarding, let’s put it in perspective.
If Jeff Bezos was hit by a 97.5% wealth tax, he would still be a billionaire. His fortune currently stands at roughly $108,200,000,000. After a Sanders wealth tax, he would still sit atop a hoard of almost $3.75bn. The tax from he alone would enable the federal government to wipe the debt of a million students (c. $50bn), to train half a million new grad nurses (c. $25bn), to pay the entire education budget of the five lowest spending states for a year(Utah + Idaho + Arizona + Oklahoma + Mississippi = c. $24bn) - andstill, still have enough spare change to double federal spending on energy efficiency and renewable energy ($4bn).
And that’s just one big fish.
Put in that sort of context there is simply no moral justification for any individual to have the private enjoyment of the sort of wealth that could seriously adjust the social outcomes of a entire nation’s working-class.
Pitchforks are an extremely moderate and conservative reaction.
lmao i lost at least 7 followers after reblogging that…. anyway if you exclude nonbinary people you’re ignoring the white stripe of the trans flag; aces and aros are not straight and thus lgbt+ because theyre literally not attracted to the opposite sex, trans women are real women, and physical dysphoria is not required to be considered trans
me watching the terfs, aphobes and transmeds disappear from my follower count
August 09, 2019
