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'Let's Go!' Top Economist Applauds as Harris Signals Support for Billionaires Tax
(www.commondreams.org)
this post was submitted on 21 Aug 2024
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In 1945 the top tax rate in the USA was 94%. This should be a goal.
In 1945, we operated under what was functionally a command economy at the tail end of a globe-spanning total war.
I mean, we can debate the efficacy of that economic model (re: The People's Republic of Walmart), but I'd rather the US be funding and fighting fewer wars, not more of them. FFS, if you give any number of shits about climate change, a global mobilization of killing machines is not going to point us in the right direction.
The threat and urgency of climate change is all the more reason to take that money and apply it to those problems. Not only does that help tackle the issue directly, it takes resources away from the biggest contributors to the problem. You have asshole rich fucks commuting to the office by private jet.
Why do you assume the taxes have to go hand in hand with investing in war?
I agree in theory. Idk if we'll see that policy put into practice. Declines in emissions over the last four years have been minimal, despite an ostensibly large investment in alternatives. The biggest drop was during the peak of COVID, which should tell you everything you need to know about our domestic policies. We rebounded immediately afterwards as quarantines lifted.
And you've got businesses pitching "flying taxis" as next generation mass transit. Yeah, it looks incredibly bleak. I just don't see any future administration in either party seriously curbing these excesses. Not when they're so beholden to the money these private jet commuters spend during election season.
Wars are incredibly expensive and put huge demands on domestic industry.
TBH I share much of your skepticism but even so I support taxing the money away from these people even if it's simply burned in a big pile.
We need to put a cap on lifestyles, I'm sure most people will disagree and think that it's a violation of freedom but these people are violating the social contract.
If someone comes to the theater and talks loudly during the movie while reeking up the theater, we'd be OK intruding on their rights. People globetrotting on private jets and yachts with helicopters and other yachts on them are farting in our theater. Take it all away from them and ask them to leave so we can all enjoy the show.