1131
Mamdanistan is showing the way forward (europe.pub)
submitted 4 months ago by to c/politicalmemes@lemmy.world
104 comments fedilink hide all child comments
 

(TikTok screencap)

Person in a locker room looking into the camera with the caption “ mamdani made taylor swift pay taxes in nyc and now the budget is balanced and there's universal childcare and this is why "but taylor donates to food pantries" will never be good enough. billionaires not paying their taxes is WHY working class people are reliant on food pantries, dumb dumb.”
you are viewing a single comment's thread
view the rest of the comments
[–] 4 points 4 months ago (1 child)

Tbh Just taxing securities backed loans as income would close a big hole

  • permalink
  • fedilink
  • source
  • parent
  • hideshow 1 child comment
    •
  • [–] 2 points 4 months ago

    I don't think that would actually do anything at all. Banks would just loosen their lending requirements, and all those securities-backed loans would just become personal loans to high-net-worth individuals. The investment portfolios of the ultra-rich need to be directly targeted.

    I'd take 1% per year. This tax is only on the obscenely-wealthy. Every natural person can exempt $1 million of their total portfolio. No exemptions for artificial persons. The IRS is limited to liquidating no more than 1% of total traded volume of any issue on any given day: >99% of trades will be market trades, so the IRS shares will have minimal effect on value.

  • permalink
  • fedilink
  • source
  • parent