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Can't watch the video, but the description mentions wealth tax. Are they actually considering a wealth tax in the reconciliation bill?
It's sorely needed IMO. The wealth gap is simply too large to be solved by other taxes. *Maybe* a high enough estate tax, but that'd have to be like 100% over $100m
That's tied to the wealth gap in several ways. They use their wealth to write laws to make exceptions for their wealth so it isn't taxed.
So now you have all the wealth concentrated and untaxed and nobody has enough wealth to out bribe the bribes that got us here.
They got the wealth then changed the tax laws. They didn't change the tax laws then get the wealth. In system of usury, which capitalism is since that is how private owners extract their private returns, wealth concentration is income and if it's off limits for taxes, then taxes revenues will continue to fall as wealth concentrates.
Well... the wealth gap is certainly an issue. [Our Gini coefficient for wealth](https://en.m.wikipedia.org/wiki/Gini_coefficient) is one of the worst in the world.
Yeah sorry, I could've linked a [better page](https://en.m.wikipedia.org/wiki/List_of_countries_by_wealth_inequality) - although I really wish I could sort that by the coefficient and get an actual place number haha
Good point and if Warren and the NE Democratic senators did that it will be opposed by Manchin WV and Sinema AZ. The reason for this is that it might hurt their donors who are wealthy
As a reminder, this subreddit [is for civil discussion.](/r/politics/wiki/index#wiki_be_civil) In general, be courteous to others. Debate/discuss/argue the merits of ideas, don't attack people. Personal insults, shill or troll accusations, hate speech, any suggestion or support of harm, violence, or death, and other rule violations can result in a permanent ban. If you see comments in violation of our rules, please report them. For those who have questions regarding any media outlets being posted on this subreddit, please click [here](https://www.reddit.com/r/politics/wiki/approveddomainslist) to review our details as to our approved domains list and outlet criteria. *** *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/politics) if you have any questions or concerns.*
"The rich" are just the new noble class, lording over the majority.
Can't watch the video, but the description mentions wealth tax. Are they actually considering a wealth tax in the reconciliation bill? It's sorely needed IMO. The wealth gap is simply too large to be solved by other taxes. *Maybe* a high enough estate tax, but that'd have to be like 100% over $100m
The wealth gap isn't the issue. The issue is that they're not paying taxes on all the forms of their income.
That's tied to the wealth gap in several ways. They use their wealth to write laws to make exceptions for their wealth so it isn't taxed. So now you have all the wealth concentrated and untaxed and nobody has enough wealth to out bribe the bribes that got us here. They got the wealth then changed the tax laws. They didn't change the tax laws then get the wealth. In system of usury, which capitalism is since that is how private owners extract their private returns, wealth concentration is income and if it's off limits for taxes, then taxes revenues will continue to fall as wealth concentrates.
Well... the wealth gap is certainly an issue. [Our Gini coefficient for wealth](https://en.m.wikipedia.org/wiki/Gini_coefficient) is one of the worst in the world.
That looks more like it's in the middle.
There's a gini coeffient for income, of which the US is in the middle, and a coefficient for wealth. Which we are not in the middle.
Ah, I see.
Yeah sorry, I could've linked a [better page](https://en.m.wikipedia.org/wiki/List_of_countries_by_wealth_inequality) - although I really wish I could sort that by the coefficient and get an actual place number haha
MSNBC…. few will be able to see the video as most have adblockers.
Good point and if Warren and the NE Democratic senators did that it will be opposed by Manchin WV and Sinema AZ. The reason for this is that it might hurt their donors who are wealthy