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The new American retirement fear: working until you die (fortune.com)
submitted 1 day ago by to c/aboringdystopia@lemmy.world
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[–] 1 point 1 day ago (1 child)

I also like the tax wealth not work approach, but taxing earnings would be like taxing work, wouldn't it? With the wealth tax, if profit is re-invested, wouldn't the stock price go up, hence getting the owners closer to the wealth gap? (Asking from a place of ignorance)

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  • [–] 4 points 1 day ago* (last edited 23 hours ago)

    They'd have to relinquish stocks or other assets if it put them over the limit.

    Although in my opinion it would be better to tax loans using investments as collateral (that cross a cumulative yearly threshold) as realized gains and income.

    The threshold could be a variable like 50x the annual take home pay of the bottom 20% of earners. That way for cheaper loans, people need to be paid more.

    Edit: my variable would be about $1.6m right now.

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