rusticus, 1 year ago (edited 9 months ago)

Nearly all billionaires have unrealized wealth, meaning they own a large percentage of a giant corporation (ie Bezos, Musk). So taxing them for money they don’t really own won’t work. But there is a better solution.

There are 38 companies in the US whose yearly revenue is greater than 100 BILLION dollars. In fact, the total amount of revenue over 100 billion for these companies combined is a bit shy of the US government yearly budget.

No company needs to revenue that much. Tax the revenue (ie 5%) over 100 billion revenue. This has the added benefit of helping to prevent monopolies and “too big to fail”.

Here is the list and revenue in case you think these companies don’t need to be taxed lol. …wikipedia.org/…/List_of_largest_companies_in_the…

Edit: Extra easter egg: The tax rate that you set could be changed each year to meet the amount of the federal deficit (ie the amount the government “overspends”). This would have the added advantage of limiting excessive government spending because politicians would have to explain to the largest corporations why they are spending their money. And you get a guaranteed balanced budget every year!