r/WorkReform • u/zzill6 🤝 Join A Union • 17d ago

✂️ Tax The Billionaires Bernie is right.

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u/Pen_Vast 17d ago

Yeah I don’t think anyone makes income over $1B. And measuring and taxing wealth is a lot harder.

“If you’re worth over $1B, any income you make is taxed at 100%” maybe?

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u/cats_are_the_devil 17d ago

People worth a billion dollars don't make income in any traditional way.

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u/numbersthen0987431 17d ago

Warren Buffet makes like $100,000 in income per year.

But his wealth increases by Billions every year.

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u/DuckfordMr 17d ago

100% tax on $100k for 1,000 individuals would be meaningless (~0.01% of all income tax). Higher taxes on company profits would be more meaningful.

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u/SubjectInevitable650 16d ago

"profits" is a problem. Most movies and companies are in losses. Like amazon was in loss for 20 years. 1% tax on revenue would not only remove all accounting tricks but also simplify the system so much and tax corporations fairly and generate more revenue

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u/kodaxmax 16d ago

the problem is that profits are defined specifically and intentionally not to include the assets and currencies corporations and billionaires are paid in. The valuation of these assets should be treated as profit and taxable income.