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Palantir CEO, With a Straight Face, Warns That Wealth Tax Will Cause Mass Surveillance (futurism.com)
submitted 18 hours ago by to c/nottheonion@lemmy.world
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[–] 2 points 8 hours ago* (3 children)

Alrighty, here goes -

Taxes on annual income -

0 upto 1st quartile of the distribution

5% on part 1st quartile to median

10% on part median to 90%ile

20% on part 90%ile to 99%ile

40% on part 99%ile up

Taxes each year on wealth -

0 upto 50M USD

1% on part 50M to 100M USD

2% on part 100M to 200M USD

3% on part 200M to 400M USD

4% on part 400M to 800M USD

5% on part 800M to 1.6B USD

6%... Keep going, you get the pattern

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  • [–] -3 points 7 hours ago (2 children)

    Up to 50 million at 0%? That leaves most of the wealth in the country untaxed.

    Wealth tax should start at about 5 million, indexed to median income. It should get pretty heavy before 100 million. Otherwise what's the point? The billionaires as a class don't own shit, there aren't that many of them. Millionaires (mostly baby boomers) own everything.

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  • [–] 2 points 3 hours ago

    Somewhere between 10M and 100M, you get infinitely wealthy - which is what I call when you and your descendants can have a comfortable lifestyle from low risk bonds forever. I want the wealth tax to be the tool to remove such a situation.

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