Gotta say, as someone who identifies as a progressive, she's really been beating my expectations compared to what she was saying and doing back in the 2020 primaries.
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If Zucman is a fan, this is great news indeed. A 25% minimum tax on billionaire wealth sounds great, and with broad support, as the article notes (even 51% of Republicans).
Much better news, too, for those of us who only saw this part reported on til now:
The campaign spokesperson called the move—which would still leave the corporate tax rate lower than it was when Trump first took office in 2017—a "fiscally responsible way to put money back in the pockets of working people and ensure billionaires and big corporations pay their fair share." (emphasis mine)
IIRC, the corporate tax rate was slashed by Trump from 30-something percent, maybe 35%, to something like 18%, so to see that Harris was not interested in reversing this Trump tax cut fully (only to 25%) felt til now like yet another depressing instance of the ratchet effect, where the right does what they do, and neoliberals only undo part of it when they are in power.
I'm just a millionaire. I'm worth diddly squat "on paper" because I intend to stay a millionaire. This isn't a difficult fiscal apparatus to create. Billionaires have much more effective methods at their disposal.
It doesn't matter what the tax rates are so long as the loopholes remain wide open and there's very little enforcement.
Should be over 50% to start. Simply to aline align with current tax brackets.
fuck it. give them a certificate that says "you won capitalism" and tax everything over $1bn at 100%
align*
Aline is my ex. lol
Not a common misspelling but the irony is pretty funny.
I mean......is she single?
In the 1950s the top marginal tax rate for couples filing jointly making over $400,000/year was 91%. Adjusting for inflation, that’s $5,200,000. Just to put our current tax structure in context.
In 1945 the top tax rate in the USA was 94%. This should be a goal.
But please based on wealth rather than income.
Rich people don't become rich from income.
I support a wealth tax as well, but even taxing income aggressively is a good start especially if it includes higher capital gains taxes.
I'm not super familiar with US tax law, but in Canada benefits like stock are taxed as income when granted. This would still be great.
In 1945, we operated under what was functionally a command economy at the tail end of a globe-spanning total war.
I mean, we can debate the efficacy of that economic model (re: The People's Republic of Walmart), but I'd rather the US be funding and fighting fewer wars, not more of them. FFS, if you give any number of shits about climate change, a global mobilization of killing machines is not going to point us in the right direction.
The threat and urgency of climate change is all the more reason to take that money and apply it to those problems. Not only does that help tackle the issue directly, it takes resources away from the biggest contributors to the problem. You have asshole rich fucks commuting to the office by private jet.
Why do you assume the taxes have to go hand in hand with investing in war?
The supreme court will call it unlawful theft of profits and strike it down. What else could possibly happen in a federalist controlled legal system?
We really need to stop calling the republican party republican. It's not at all what it once was. It's the Federalist Society party.
Correct if I'm wrong here, but is this article just "Economist comments on something it has been claimed the Harris campaign team said, but is not explicitly mentioned anywhere in writing or in speeches"?
If she planned on taxing billionaires, she'd be shouting it from the rooftops. That's a popular policy. It's not going to be something she keeps in her back pocket and then when she's president goes SURPRISE MOTHERFUCKERS. Not that she could do it by EO anyway, but honestly, this is so far from a reality it just barely qualifies as news.
If she planned on taxing billionaires, she’d be shouting it from the rooftops. That’s a popular policy.
Not among corporate mega-donors, it isn't! Keeping it in her back pocket -- not until she's president, but until shortly before the election and, crucially, after their checks clear -- is exactly what she should do.
Nobody would be happier than me to see that happen, but seeing how nobody's ever done something like that before I have my doubts. Can't remember the last Democrat that actually got more radical than the platform they ran on. Certainly wasn't anybody in the last 50 years.
Massachusetts did it. And it is a huge success.
https://www.cbsnews.com/news/massachusetts-millionaires-tax-free-lunch-every-kid/
The article cited the 2025 budget [PDF]. It's under the section "Proposes a Minimum Tax on Billionaires".
To finally address this glaring inequity, the Budget includes a 25 percent minimum tax on the wealthiest 0.01 percent, those with wealth of more than $100 million.
Though the Harris campaign is not directly mentioned, I think we may assume it's coming from both Harris and Biden.
Sounds like a solid plan! I would be surprised if the public opinion here would be any different. There are no billionaires on Lemmy.
Not now, no, but I need to make sure they have a favorable tax regime for when my scratch-offs inevitably raise me to my appropriate station.
First stop Joe Rogan. Not a billionaire, but he is an ignorant little bitch.

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