Everything above $1 billion dollars should be taxed at 90%?

[kentuck]

The only way to fight these greedy mofos is thru their pocket book?

Ninety-percent of $400 billion would still leave $36 billion to play with. That is supposedly what Musk is worth since the election.

When Democrats surrender their tax weapon, they surrender a lot.

Who needs more than a billion dollars a year?

Democrats, under Clinton, wanted to make the top tax rate 39%. That was a huge mistake, in my opinion.

We can all see what damage is being done by these wealthy American oligarchs. Democrats should be supporting a very progressive tax rate, in my opinion.

[True Dough]

1. Yes,

yes it should!

[Volaris]

2. Yep and since no one really listens to us anyway lol,

I'd suggest they run on using that money to fund a 10-year balanced budget, and a 20 year 1% across the board federal sales tax that goes ONLY to paying down the principal on the national debt.

Republicans are gonna scream about tax-and-spend democrats ANYWAY; if they're gonna blame us for it, we might as well own it AND take the issue away from them for good measure. Fuck em. Time to play the kind of hardball they don't have the stomach for anymore.

[magicarpet]

3. Too much money in the hands of too few

.... then welcomes oligarchists, monarchists, and Fascists. Causing the end of Democratic experiments that seek to achieve more fair,
better, just, and more stable societies for all citizens - not just the obscenely rich.

[Silent Type]

4. Don't see it happening in next 30 years or so. Possibly we'll get a modest tax increase someday, but that's about it.

[MichMan]

5. Then the following year we tax the remaining $36 billion at 90% again and so on.

[ProfessorGAC]

6. Confused

You're not talking about income taxes?
You are proposing taxing accumulated wealth?
Nobody has $400 billion in income, so a tax like that would apply to nobody.
And, I'm not sure a tax on wealth would be accomplished without a book full if exceptions, deductions, or shelters.
Plus, a wealth tax would be a one time band-aid. If not just one time, you would have only a few when 90%, then 90%, the 90%, etc. would eliminate the source of revenues in 2 to 6 years.

[onenote]

7. +1

[Greg_In_SF]

8. Musk doesn't

just have $400 billion sitting around in his checking account. That is his net worth. That includes his businesses, investments, homes, cars, etc. right down to his kitchen knives.

[MichMan]

9. He would need to have a major sell off

[Greg_In_SF]

10. Yep...

And, even if the government just straight up confiscated 100% of his entire net worth, that would fund the government for about two and a half months. Then what?

[Ping Tung]

11. I'll be honored to write them a check when I reach $1,000,000,000,000 in my piggy bank.

Unfortunately I'm currently a bit financially embarrassed and short a few hundred millions.

[NoMoreRepugs]

12. Taxing income - no problem for me. Especially if the tax rules are FAIR.