Comment Re:We need a max wealth cap in America. (Score 1) 295
Tax auditors are the highest-return government program ever developed.
We just increase funding for auditors every-time we need more funding for programs.
The billionaires can hire lawyers and try to weasel around laws. But they can't avoid everything.
The funds are there if corruption can be controlled.
Putting this on the ballot for the people to decide makes it a public issue that's hard to cover up.
It's harder to bribe every citizen of the state, though they'll try with propaganda and warped arguments in the coming campaign.
The fact is. Since Prop 13 and the Reagan Revolution, cutting taxes for the rich has created the super-wealthy. They did not earn their vast fortunes. They got them through not paying the taxes that formerly created the greatest public education system in the world. The one that led to the tech revolution that subsidized every gain they have claimed as their own, without any proportional merit at all.
So yeah. Tax away the billionaires. Experiment with different formulae for doing it in different states and jurisdictions. Chase them from place to place taking capital gains every time they transfer their wealth to escape the next new legislation. "Billionaires" don't need to exist. Citizens do. And we all have responsibilities and yes we should all get rewards for working hard. But nobody should get a billion times more reward for working less than somebody else who works really hard. That's just bad math. This law is just a new more popular algorithm. They should like that, the tech bros.