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this post was submitted on 09 Jul 2023
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The solution is a wealth tax. It worked for the first 10,000 years of human civilization, after the 100 year failed experiment of income/sales tax it’s time to go back.
Yep, tax capital, not labor. It seems so obvious.
That was back when labor was biological. The only form of automation was animal labor. Now machines can do so much without any human labor at all. Taxing income only gets worse since these machines don't have an income. Some companies can run without any human interaction at all, just a company self inflating it's value. I'll only get worse with AI and robotics. We need a way to keep these companies from just consuming all resources and paying nothing back.
Easy. Tax capital, not labor.
If only there were something...