• UnderpantsWeevil@lemmy.world
    link
    fedilink
    English
    arrow-up
    10
    ·
    2 days ago

    Billionaires don’t have taxable income because they’ve successfully lobbied for carve outs that exempt them from taxation.

    That’s what makes a wealth tax impractical. How do you pass it through a Congress that’s been wholely co-opted by a billionaire friendly caucus?

    Chuck Schumer, the senior senator from Wall Street, isn’t going to author a wealth tax. Kamala Harris, the former Senator from Silicon Valley isn’t going to sign it. And the SCOTUS majority that’s on the Harlan Crow payroll isn’t going to uphold it.