I actually disagree with a straight wealth tax, I believe the approach of adequately taxing the wealthy needs a more two pronged approach, which I happen to have pitched already, so I'll just copy paste that comment here to explain what I think will work instead:

I believe someone suggested loans collateralized on stock and other such speculative assets be taxed as realized gains, which should go a long way to stop the absolutely mindbogglingly obscene displays of mega wealth we've been seeing as of late.

As for income, there should be nominal brackets established at the 20th, 40th, 60th, 80th, 95th, and 99th percentiles of income for a given year, with 20th, 40th, and 60th percentile income taxed at the percent of national wealth each of those brackets owns, income in the 80th and 95th brackets being taxed at twice their respective shares of the national wealth, and income above the 99th income being taxed at three times their share of the national wealth. Then have a half a percent multiplier for every multiple of twenty times the median income of the 0-20 percentile bracket an income crosses.

Doesn't just tax the rich, it directly makes it their class interest to spread the wealth to lighten the crunch on their top dollar. The rich literally can get their own tax cuts by sharing the wealth.

It actually even incentivizes the ultra rich to police each other since one of them building up the riches too much hits all of them, meaning the rich will be eating each other whenever one of them steps out of line!

Can somebody please fix the bar scales? Nothing corresponds to anything else, and as such the difference between "millions" and "billions" is indicated by just 1 letter. Not to mention, there is no source for the data or indication why their rates are different (3.05% for Musk and Bezos, 0.309% for Gates).

How is 4% "fair share" when I am paying 24%

I personally really hate the term "pay their fair share" because if it's implications. I would much rather hear something like "pay like the rest of us" because it's about percentages, not actual dollars.

The only gripe I have with this is settling for billionaires paying ‘their fair share’. That would have been acceptable if they paid that while hoarding these unimaginable levels of wealth.

At this point; the amount they should be due to pay should be punitive - to discourage anyone from attempting anything similar in the future.

You can’t just vote for politicians who want to tax the wealthy more money because how else can I get trans kids out of middle school basketball?

I wonder how high we could get the standard deduction without even impacting their quality of life?

But it only takes $50k to buy a congress person, so this will never happen.

Neat part is that Bill Gates has been saying he wants taxes to increase for the ultra-rich, he is on board, if only all of them thought that way

Who the fuck is doing Bill Gates' taxes and how do I get them to do that but on my much more modest income.

Nearly all of us pay more than these clowns do, when considering the percent of our incomes. And most of us are losing savings or being forced to budget to the extreme these days.

Fuck the ultra rich that never give back. People like Musk are a fucking scourge to our entire society.

Why such a % difference between Gates (0.3) and Bezos(3)? Is it based on the last year's income?

Bill Gates looks like a loser with his 372kk compared to other guys.

Just give their wealth to the workers they exploited to gain it.

Fuck the "fair share". Seize their stupid asses away from under them. Followed by the means of production.

This is a much nicer version of the same meme I put up here last week (not complaining, it really does look nicer).

Why is Gates' rate so much lower than the other guys'?