The threshold household income where a family can afford housing, healthcare, childcare, and transportation without relying on means-tested benefits is a lot higher than the official stats suggest.
The threshold household income where a family can afford housing, healthcare, childcare, and transportation without relying on means-tested benefits is a lot higher than the official stats suggest.
Simple, we take the money from the rich, and give it to the poor. Cap maximum salary at $999,999,999; anything you make after that goes directly towards those who need it most. Get the entire world on-board, so there’s nowhere for them to hide their money, eliminating billionaires entirely. Problem solved.
This all assumes there is no inflation. At some point the system breaks mathematically, even with a steady 2.5% growth rate (which it is not at all accurate but that’s another topic).
The ownership class is planning wealth on generational levels. This represents a significantly larger amount of capital over a longer time frame.
Capping the allowed maximum salary doesn’t even begin to remotely address taxes on corporations and trusts. The wealthy do not pay themselves a high salary , their money is managed through funds.
You tie the wealth cap to inflation.
At this point the minimum wage also needs to be tied to inflation. Might as well bring it up to match productivity increases while you are at it.
$999,999,999 is way too high.