Quote:
Originally Posted by Jason14h
The problem is math and compounding numbers. You mathematically can not close the wealth gap - you can just slow the rate it grows
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Unless you tax wealth (rather than earnings) or as some people put it double taxing.
A 10% annual tax on all wealth over 1 billion would eliminate billionaires.
Obviously this isn’t practical as the billionaires would just leave your jurisdiction and not hold wealth there.