Forum Post: Tax the Dead - End Mega Wealth Dynasties
Posted 12 years ago on Oct. 21, 2011, 12:13 a.m. EST by RedNC
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any system that attempts to limit human ambition only becomes 'the new way to cheat'.
Therefore, make all the money you want. The sky is the limit.
But at your death, if you have amassed a mega-fortune, society should redeem it through a confiscatory estate tax. A generous exemption can allow for people to still provide lavishly for children and grandchildren. But the bulk should go back to society.
People are quick to ask, what is 'mega-rich'? That is a question for a thread of its own, but surely reasonable people could agree on a metric. The problem is not wealth itself. The problem is dynastic mega-wealth.
Poverty is not the natural state of man. Poverty is wrought by vast concentrations of birthright wealth in the hands of a tiny few. You can explain the poverty of individuals with personal responsibility. But when whole groups, whole communities, whole nations are poor, we have proof of systemic poverty in a broken system.
The scarcity we live in is a false scarcity. It brings out the worst in us as the large majority is forced to fight over too little to go around. It robs us of our humanity. If we end dynastic mega-wealth through a 'death tax', we can end the majority of human suffering in one stroke.
I agree. However, This movement needs to be more primal than that. We must awaken people without scaring them. Our one demand, as I believe that is all we can afford without division has to be: Amend the Constitution for government ONLY financing of elections, no contributions, from anyone; rendering Citizens United a moot point. It’s the only piece of this that resonates with the anti-establishment left, the anti-establishment right and everyone in between. Including many who make 350k+ believe me its great to make that kind of money but that doesn't mean you want to spend it on some one's (or even your own) campaign where the mega-corps and uber-unions are going to drown you out anyway. The shear fear of this movement uniting and growing, immune to their false discourse would so scare the shit out of them they'd probably start proactively trying to appease us. Wouldn't that be nice? Oh, and its spin-proof. The logical contortions involved in trying to spin this would only push people to us.
400 families in America have as much wealth as the entire bottom half of the nation. The large majority of these 400 were born into wealth.
You hit the nail on the head. There must be an estate tax.
Mostly kids born in rich family get spoiled because of the easy money. They never understand the value of hard earned money. Unfortunate !
the 500 richest persons on Earth have as much wealth as the entire bottom half of humanity combined.
the cause of poverty is obvious.
Milton Friedman was against this idea of estate tax !!
So all my Republican friends are also against this idea ;)
Giving someone's money to the Govt isn't going to solve anything except making it so that when you die, your family isn't going to benefit from your life. That's Communism. The rate that Billionaires die is very slow because there aren't many of them. So what is a few billion every couple of years going to do to help anyone? The Govt already takes in 200 Billion a month, and spends 400 Billion a month. That's the problem. Not that some spoiled rich kid gets his daddy's fortune to spend. When that happens, JOBS ARE CREATED! They buy things, cars, houses (which need maintenance, yard work etc.) which helps the economy. When people inherit money that they didn't work for they spend it because it's just a big bank account for the rifling. Sorry but I disagree with you.
Veto the Vote
Jon, money is like manure. You spread it around, and good things pop up everywhere. You put it in a big pile, and it just stinks.
The problem with Socialism is, sooner or later you run out of other peoples' money.
And no, when you spread it out all you have is a field full of cow shit.