alt Hacker News>And I did engage with the real point
You did not and still are not. This isnt about making billionaires cover the entire country's budget. Its about making sure power doesn't consolidate in any one person.
Do I really need to repost the other 80% of my comment (the entire 2.point?) Which part of "high corporate taxes mean business owners invest in business" needs clarification? Are we suggesting that the tax codes in which the baby boomers boomed under did not in fact make America Great?
You’re discussing raising corporate or individual income tax rates.
I’m discussing a proposed broad wealth tax on unrealized gains and assets.
The tax rates of the 50s were high, but were filled with loopholes and deductions in that the effective tax rate that was actually paid was much lower.
There are arguments to be made how much those policies contributed to the boom of that decade, but those are separate to arguments about the practical, legal, or efficiency concerns with just imposing a 5% levy across all assets and net worth