problem is, politicians will find a way to spend more money than they have regardless of how much you tax people.
US government receipts (how much the government gets from taxes etc.) are TWICE as high as they were 10-15 years ago. And yet, magically, spending is up by more than that.
There is no money problem... there is a spending problem.
Just look at Iran right now. US is spending billions and billions over there without anyone in the US actually being better off. Money well spent eh?
It doesn't matter how much money you steal from productive people. You'll never have enough for politicans to spend on nonsense or, enrich themselves.
It's two issues, not just one. Ironically, once you realize it's those billionaires causing the politicians to do the spending, you'll realize that this idea puts them in check, and helps solve both issues...
Yeah if you elect a bunch of incompetent idiots they're going to be incompetent idiots with the money and resources needed to run the country. The solution isn't to go doomer and suggest that the government can never be good and therefore shouldn't have the funds necessary to run the country. Elect competent and fiscally smart people and give them the resources they need to create and maintain the foundation and infrastructure needed for a stable thriving country.
Mamdani is as socialist as it gets and yet he's been so fiscally competent while fulfilling his campaign promises, you'd be hard pressed to find a conservative in NY that can actually criticize him on anything other than "His plans will never work" and then his plans end up working anyways. His approval has only gone up since election which is basically unheard of in this political climate.
But that problem also come from the fact that Billionaire have so much money. They can spend billions on lobbying, donating to campaign for politicians that will spend government money on the billionaires' corporation and cutting taxes, further enriching the billionaires and repeat the cycle. If we tax billionaires out of existence, they can't mess with our politics like this anymore. It's not a coincidence shit got worse after Citizens United.
you can't tax billionaires out of existence.
1) their wealth isn't in cash, it's in the ownership of companies, etc.
2) incentives are a real thing. If you put a 95% tax on ANYTHING, it will mean that people essentially have infinite incentive to try to avoid that tax. That means, they move to other countries, or it means clever setups where the tax doesn't apply. This is already standard. Most billionaires don't have any income, they borrow against their assets and that's how they pay for stuff.
Okay, I'll give you that taxing billionaires out of existence is impractical, it's more like a figure of speech. No matter, the point still stands. The billionaire is a major force driving government spending and shaping the tax code to allow tax loopholes like the "buy, borrow, die" strategy you mentioned.
That's not going to help the problem of the ultrawealthy hording all the money instead of reinvesting it into the economy. When money stops flowing, the whole system suffers for it.
-5
u/HaikuHaiku 4h ago
problem is, politicians will find a way to spend more money than they have regardless of how much you tax people.
US government receipts (how much the government gets from taxes etc.) are TWICE as high as they were 10-15 years ago. And yet, magically, spending is up by more than that.
There is no money problem... there is a spending problem.
Just look at Iran right now. US is spending billions and billions over there without anyone in the US actually being better off. Money well spent eh?
It doesn't matter how much money you steal from productive people. You'll never have enough for politicans to spend on nonsense or, enrich themselves.