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Non-Tech : Kirk's Market Thoughts
COHR 175.05-1.9%3:59 PM EST
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To: TigerPaw who wrote (12281)10/26/2021 8:02:39 PM
From: Kirk ©  Read Replies (1) of 26779
 
I disagree 100%...
There is no way that someone could work long enough or hard enough to make the kind of money that flows to the 1%. Just having that degree of wealth is a sign that there was an imbalance in the system of rewarding contributions toward whatever business was there. That's why a wealth tax is the appropriate tax. No bias.

Didn't Sergey Brin come from Jewish parents educated in Moscow and he came to the US without a lot of money? His father taught math... not a high paying job. He has $114 BILLION now.

The way to tax it is with a solid inheritance and capital gains tax while eliminating ALL loopholes for donations to charities that your kids run or your soul is saved if you are stupid enough to believe some cleric, priest, reverend, monk, whatever... says your soul will be treated better than the poor people if you give THEM your money NOW.

Don't hinder smart, successful people from making money that generates a lot of jobs and taxes. What we need to do is fix the system that lets them avoid taxes by "giving it away" for marketing, getting names on buildings and better health care if the building is a hospital.

I'd be up for 90% inheritance tax on anything over $1B. Get it when they die. Let their kids figure out how to live on the millions they will get when their parents are alive.
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