> How about the rich say that 50% of the economy should pay their fair share?
How exactly do you propose that they pay their fair share when they literally do not have the money or assets to do so? Are you proposing modern day slavery? Perhaps people selling their family? I'm curious what happens if you take this line of thought to it's actual conclusion.
How about instead of taxes, we have a $10,000 per year subscription fee to live in society.
Maybe different depending on area, like $20,000 a year to live in NYC but only $2,000 per year to live in a rural village.
If you can't afford the fee that's OK, it just means you have to live outside of the developed areas and don't benefit from any services provided by the government. But you are free to set up a tent in the woods and live off the land.
Would this mean that a person that makes 50k/y most pay 20% of their income while a billion$ company still pays 10k? I don't think this helps with wealth inequality.
Even if you were to liquidate every billionaire in America, at a 100% tax rate above $1 billion, and were able to sell the shares at current stock prices without a collapse, you would pay for the government deficit for... 3 years. Because their combined wealth, on paper, is $7T while we're running over $2T shortfalls every year.
3 years of not taking out debt, while still needing everyone else to pay current rates. Then you're back to square one. Sans billionaires and sans any major capital investment anywhere.
How exactly do you propose that they pay their fair share when they literally do not have the money or assets to do so? Are you proposing modern day slavery? Perhaps people selling their family? I'm curious what happens if you take this line of thought to it's actual conclusion.