Great idea, not new i guess, apply a minimum tax to companies too. Always great to hear that idea in media, in reality it will never happen, the rich are too influential, they just buy everything they need to prevent it, its a old story. Check history of capitalism in the US.
Can not do that, the super rich owns western democracy via lobby groups and personal fundings through various NGOs. Unless democracy is based on both selection and election with prudent accountability of politicians on what they say before elections during and after
If you charge a billionare a hundred million dollars in tax, he'll hire a hundred million accounts to find the loopholes. Then the tax authority will look for an easier target to reach their target tax revenue. You and I are that easier target. It happens the same way every time.
This is very true. Happens in every country. Rich people and big companies pays less taxes percentage wise in general because they can afford to hire tons of expensive and talented accountants to find loopholes and techniques.
To avoid paying taxes legally,they make their own philanthropic FOUNDATION..they control this foundation..doing programs that will benefit their companies..to make a quick buck.. they donate all their money and claim it as expense..reducing their tax liability...they should close this loophole😂😂😂😂😂
2% ur joking aren’t u. They should pay the same tax rates as everyone else on all profits. And they’re businesses shouldn’t have the same legal status as people
Ya, it's 2% of their wealth annually. If they get a 10% return on their wealth it would be like paying 20% tax rate. If they get 5% return it would be like 40% tax rate.
There should be a limit to what a person can earn in each county. 1 billion is enough! Anything more should go into developing countries & uplifting it's people
Funny thing is that's exactly what their money is used for. They reinvest all that money, which grows the economy. So it's hard to actually tell the effect of a policy like that because that money would be sucked out of the economy and basically be redirected. So depends on how effective the redirection is at growing the economy (could be less effective).
The fact that governments facing elections are more worried about this measure affecting 3000 people worldwide just shows why this is so urgently needed.
@@Eheth1958 everybody pays taxes why is that unfair? Also, the way big money makes big money is to me the real laziness, there is no hard work in there. And, it's not about giving, it's about building infrastructure for everybody.
@@Eheth1958 if you put 1000 dollars in stocks, get a 7% increase a year, when you remove it and pay say 28% of tax in the gains that amounts to roughly 20 dollars tax. Which is 2% of the 1000 dollars. So taxing 2% on assets, when it's hard to tax income, is not that crazy.
If we do that who will pay off our politicians to give them tax cuts in the first place?
Basically the poor do nothing and get free things from the hard workers money.
Great idea, not new i guess, apply a minimum tax to companies too.
Always great to hear that idea in media, in reality it will never happen, the rich are too influential, they just buy everything they need to prevent it, its a old story. Check history of capitalism in the US.
Agree.
Last budget surplus was Bill Clinton in the US, who raised the tax for anybody making over 600k a year. Enough said.
Can not do that, the super rich owns western democracy via lobby groups and personal fundings through various NGOs. Unless democracy is based on both selection and election with prudent accountability of politicians on what they say before elections during and after
If you charge a billionare a hundred million dollars in tax, he'll hire a hundred million accounts to find the loopholes. Then the tax authority will look for an easier target to reach their target tax revenue. You and I are that easier target. It happens the same way every time.
Then we find new solutions like we have with crisis. Just because the opposition is determined doesnt mean we shouldnt try.
This is very true. Happens in every country. Rich people and big companies pays less taxes percentage wise in general because they can afford to hire tons of expensive and talented accountants to find loopholes and techniques.
You put a death penalty on using loopholes.
Not if it's a wealth tax rather than an income tax.
It's impossible to hide wealth.
To avoid paying taxes legally,they make their own philanthropic FOUNDATION..they control this foundation..doing programs that will benefit their companies..to make a quick buck.. they donate all their money and claim it as expense..reducing their tax liability...they should close this loophole😂😂😂😂😂
It ain't rocket science
I'm American, I say *Fuc YES!!!*
2% ur joking aren’t u. They should pay the same tax rates as everyone else on all profits. And they’re businesses shouldn’t have the same legal status as people
I think they mean tax their wealth, I imagine. Business are unfortunately are technically are counted as a person in the eyes of law
Ya, it's 2% of their wealth annually. If they get a 10% return on their wealth it would be like paying 20% tax rate. If they get 5% return it would be like 40% tax rate.
I have no problem with the rich being very rich if that money comes from good sources. Ridiculous to tax them globally 😂
How? The super rich own businesses. How are you going to tax their ownership of the business? Tax on income, not wealth.
There should be a limit to what a person can earn in each county. 1 billion is enough! Anything more should go into developing countries & uplifting it's people
Funny thing is that's exactly what their money is used for. They reinvest all that money, which grows the economy. So it's hard to actually tell the effect of a policy like that because that money would be sucked out of the economy and basically be redirected. So depends on how effective the redirection is at growing the economy (could be less effective).
Why? Why give anything to lazy people? It only encourages more laziness
The fact that governments facing elections are more worried about this measure affecting 3000 people worldwide just shows why this is so urgently needed.
This is bad. Why give free things to lazy people and take from hard working people?
@@Eheth1958 everybody pays taxes why is that unfair? Also, the way big money makes big money is to me the real laziness, there is no hard work in there.
And, it's not about giving, it's about building infrastructure for everybody.
@@Eheth1958 if you put 1000 dollars in stocks, get a 7% increase a year, when you remove it and pay say 28% of tax in the gains that amounts to roughly 20 dollars tax. Which is 2% of the 1000 dollars. So taxing 2% on assets, when it's hard to tax income, is not that crazy.
These people have no clue.
2%??? I pay 50%!!! After a billion dollars it should be 99% tax.
7% tax for the wealthy funds the entire US army people. 800 billion!!!!! 7%!!!!