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this post was submitted on 11 Jul 2024
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They’re totally fine not collecting from billionaires
I imagine the IRS is going after millionaires for the same reason it goes after poor and lower middle class people: they lack the resources to mount a defense.
Billionaires have enough money that they could stall indefinitely. Or at least until they can fund a president that will just pardon them.
The only cure for billionaires is the guillotine.
The only cure for billionaires (that helps everyone else) is to raise their flat tax rate to 70% ... like it used to be.
In 1944, the highest tax rate was 94%! By 1953, it had dropped. To 92%. We need to go back to that. The richest will find ways around it, but that’s not a reason not to do it.
This headline uses "millionaires" to mean "people with over a million dollars in annual income" rather than "people with over a million dollars in net worth"
That's not your run of the mill "successful career with a healthy 401k" millionaire, that's at least ten-millionaires, mostly hundred-millionaires, and possibly some billionaires by net worth.
The term is Decamillionaires