alt Hacker NewsThe only reasonable argument I can think of is that the fantastic wealth accumulated at the top was substantially driven by the $37 trillion of debt the USA finds itself in. And it needs to be clawed back somehow.
The only reasonable argument I can think of is that the fantastic wealth accumulated at the top was substantially driven by the $37 trillion of debt the USA finds itself in. And it needs to be clawed back somehow.
It's actually much simpler than that. We need to pay down the debt, and because the rich have most of the money they are going to need to do most of the paying down whether or not they directly are responsible for it or benefited from it. It's simple math. But what does this have to do with a wealth tax? The entire concept is stupid. Income an capital gains rates can be increased.