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[–]BitterRedditRefugee 6 insightful - 2 fun6 insightful - 1 fun7 insightful - 2 fun -  (3 children)

Tax the rich

surprisingly, a lot of the poor and middle class are against raising taxes especially after when the rich get their tax cuts, the federal government still needs to make up for the lost revenue and they charge the middle class and lower more taxes to make up for that revenue. I guess those in the middle class and lower classes are holding out hope that maybe one their they will win powerball and when they do, they want their taxes to be nice and low.

[–]emptiedriver 3 insightful - 1 fun3 insightful - 0 fun4 insightful - 1 fun -  (2 children)

The amount of money the super rich have is beyond any level of use and there are millions of people literally suffering in the meantime.

Life is a limited resource. Don't try to save up money for a life beyond the one you have. People waste their time looking at their money grow or shrink, without ever using it or enjoying it. They are only increasing their greed, until they die and pass it on to grandchildren, and the cycle continues. When it's a large enough amount of money, taxing it so that basic needs can be met for all is fair. In a more even system, no one has hundreds of millions, but also no one lives on the street or can't afford food.

Winning powerball is pure luck. How long you live has a lot to do with luck too. If you live for 80 years, & you win powerball at 40 then you have maybe four decades to enjoy it, and for some of those years you don't even want to do much more than sit around. Why not share the wealth?

[–]jet199 6 insightful - 3 fun6 insightful - 2 fun7 insightful - 3 fun -  (1 child)

Even if you take away half of the billionaires' fortunes it would work out a couple of dollars each for the poor by the time it got to them, and that's a one off payment.

Also most of their wealth is not real wealth at all, its just current market valuations of property they own. What do you think would happen to Amazon share prices if Bezos said he was going to sale all his shares? It would fall through the floor. So much of his supposed wealth actually disappears the moment he tries to access it. It's been shown millionaires in the 1920s actually had far more physical wealth and physical property than the billionaires of today even though they seem to be richer and far further removed from the rest of us. Their money exists in companies, companies which actually do things for all of us, not sat in their bank accounts.

The best way of raising large amount of taxes to help people out is to tax everyone and every company reasonable amounts consistently, which is why that's what every government does. Putting an extra 1% on a tax can raise much more than any millionaire windfall tax and do so painlessly and keep doing so every year.

[–]wecandobetter 1 insightful - 2 fun1 insightful - 1 fun2 insightful - 2 fun -  (0 children)

This is the intelligent, non-ignorant-child analysis of the 'tax the rich' issue