'Let's Go!' Top Economist Applauds as Harris Signals Support for Billionaires Tax | Common Dreams
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An economist at the forefront of the growing global push for a billionaire wealth tax is welcoming news that U.S. Democratic presidential nominee Kamala Harris is embracing calls for a minimum levy on the United States' richest individuals.
  • ECB@feddit.org
    221·
    3 months ago

    But please based on wealth rather than income.

    Rich people don’t become rich from income.

    • jorp@lemmy.world
      11·
      3 months ago

      I support a wealth tax as well, but even taxing income aggressively is a good start especially if it includes higher capital gains taxes.

      I’m not super familiar with US tax law, but in Canada benefits like stock are taxed as income when granted. This would still be great.

      • breetai@lemmy.world
        3·
        3 months ago

        Wealth taxes are unconstitutional in the United States. It would require an amendment to change that.

        Capital gains should just be taxed an ordinary income. That would solve a lot of issues such as Medicare, social security, etc.

          • breetai@lemmy.world
            1·
            3 months ago

            Not sure who those people are but they don’t seem well versed on the topic.

            If you haven’t read the most recent SCOTUS ruling. It foreshadows their views on the topic. SCOTUS determines want is constitutional.

            There hs enough case law from scotus to point to wealth taxes as being unconstitutional