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Would you be in favor of this wealth tax?
Posted on 12/9/25 at 4:39 am
Posted on 12/9/25 at 4:39 am
I disagree with most taxes but I had this idea..
The trump Invest America accounts that go to newborn kids seeded with $1000 from the gov and parents and others can put $$ in these accts and they’re pegged to the market tax free.
The real idea behind this was to give kids an incentive to appreciate capitalism and understand the miracle of compound investing. I think it could really stem the tide on the youth believing in socialism.
But I also had this idea that a 1% wealth tax for those worth over a billion. Billionaires have 6.72 trillion in net worth. If we gave that 1% tax on billionaires to all children in the US (73 million) that would be $919 per kid per year. Which would be in addition to the original $1000 from the gov and any $ added by companies or parents etc,
The interesting thing is this a direct transfer of wealth to young American kids to help them get a start, costs the government nothing, and isn’t mired in corruption or non profit type excessive expenses. In this era of hyper wealthy and a growing wealth gap,, I think this makes some sense.
The trump Invest America accounts that go to newborn kids seeded with $1000 from the gov and parents and others can put $$ in these accts and they’re pegged to the market tax free.
The real idea behind this was to give kids an incentive to appreciate capitalism and understand the miracle of compound investing. I think it could really stem the tide on the youth believing in socialism.
But I also had this idea that a 1% wealth tax for those worth over a billion. Billionaires have 6.72 trillion in net worth. If we gave that 1% tax on billionaires to all children in the US (73 million) that would be $919 per kid per year. Which would be in addition to the original $1000 from the gov and any $ added by companies or parents etc,
The interesting thing is this a direct transfer of wealth to young American kids to help them get a start, costs the government nothing, and isn’t mired in corruption or non profit type excessive expenses. In this era of hyper wealthy and a growing wealth gap,, I think this makes some sense.
45
Posted on 12/9/25 at 4:45 am to Lsujacket66
Traditionally a "wealth tax" is a tax on unrealized capital gains. M8ght want to rethink the name.
Amd no- I don't support that. Why punish people that make more money?
Amd no- I don't support that. Why punish people that make more money?
Posted on 12/9/25 at 5:01 am to Lsujacket66
quote:
appreciate capitalism
quote:
this a direct transfer of wealth
Come on bro.
Posted on 12/9/25 at 5:15 am to Lsujacket66
quote:
The interesting thing is this a direct transfer of wealth
So...redistribution is capitalism?
Does not compute.
Posted on 12/9/25 at 5:19 am to Lsujacket66
It always starts a s a small amount of a lot.
Next thing you know it’s 24% of $50,000
Next thing you know it’s 24% of $50,000
Posted on 12/9/25 at 5:21 am to Lsujacket66
quote:
But I also had this idea that a 1% wealth tax for those worth over a billion.
No.
But hell, just ask them for seed money. They might just give it to you. Look at Michael Dell.
Posted on 12/9/25 at 5:25 am to Lsujacket66
The “Trump Seed Account” is one of the most damaging things he can do for the future
1. It will accelerate inflation. By the time it’s mature, that ~$mill will have same purchasing power that $20,000 has today
2. That is some democratic socialist type shite.
1. It will accelerate inflation. By the time it’s mature, that ~$mill will have same purchasing power that $20,000 has today
2. That is some democratic socialist type shite.
Posted on 12/9/25 at 5:37 am to Lsujacket66
quote:
The real idea behind this was to give kids an incentive to appreciate capitalism and understand the miracle of compound investing. I think it could really stem the tide on the youth believing in socialism.
So taking money from people who earn more and giving it to those who don't will somehow "stem the tide" on the people receiving that money that the very system benefiting them doesn't work?
I don't think you thought this through very well.
Posted on 12/9/25 at 5:38 am to Lsujacket66
quote:NO !
Would you be in favor of this wealth tax?
Your little gimmick could not be enacted without a Constitutional Amendment. Once passed, there is no way in hell DC's greedy fingers would limit it to either 1% or "only billionaires" over time. It would expand like a nuclear mushroom cloud.
For a perspective, subsequent to the 16th Amendment, the first income tax was just a "tiny innocuous thing," exactly akin to what you're proposing. The first IT only hit the "Top 3%." The top rate was only 6%, and only applied to the "Top 0.1%." John Q. Public viewed IT as something only "the rich" would have to deal with.
Posted on 12/9/25 at 6:10 am to Lsujacket66
quote:It should be a popular philanthropic vehicle. E.g., Dell is donating $6.25B to the fund, adding $250 to funds for the first 25 million children in the program.
If we gave that 1% tax on billionaires to all children in the US (73 million) that would be $919 per kid per year.
I've long held that the whole concept of untaxed philanthropy is it circulates for some good purpose back to Americans ... Universities, Major public constructions, etc.
However, POS's like Bill Gates circumvent that premise by passing tax protected money out of the country into foreign vehicles where it could quite easily be shuttled right back to descendants of the contributors or their cronies. Regardless, none of it directly helps Americans at home. Foreign philanthropy is, and should remain, at the discretion of the donor. But such donations should be fully taxed before leaving the country.
Posted on 12/9/25 at 6:20 am to Lsujacket66
This is a slippery slope. The Alternative Minimum Tax was only supposed to hit a handful of people, and it grew into a monster. If you want to tax the ultra wealthy, there are two taxes I’d support.
1) Carried Interest tax
2) A tax on the lines of credit the uber wealthy use for everyday expenses. Since their wealth is usually illiquid, the banks float them lines of credit against that wealth. Tax them on any borrowing they do against those lines at the income tax rate.
1) Carried Interest tax
2) A tax on the lines of credit the uber wealthy use for everyday expenses. Since their wealth is usually illiquid, the banks float them lines of credit against that wealth. Tax them on any borrowing they do against those lines at the income tax rate.
This post was edited on 12/9/25 at 6:21 am
Posted on 12/9/25 at 6:40 am to Lsujacket66
A wealth tax is a way to inhibit if not destroy incentive.
Posted on 12/9/25 at 6:44 am to Macfly
quote:
A wealth tax is a way to inhibit if not destroy incentive.
Yah I’m sure ppl would no longer want to be a billionaire
Posted on 12/9/25 at 6:47 am to Lsujacket66
Commie.
Posted on 12/9/25 at 6:48 am to Lsujacket66
We need good government programs for the people.
Posted on 12/9/25 at 6:53 am to Lsujacket66
No. It's blatantly unconstitutional and a major invasion of privacy.
Posted on 12/9/25 at 6:54 am to Lsujacket66
Theft
Posted on 12/9/25 at 6:58 am to Sp0728
Yeah, I think maybe any job dealing with numbers should not be a career choice for you. In 18 years if you think 1 million is the equivalent of 20,000 today then please explain how. If 40 years from now 1,000,000 is the equivalent of 20,000 today explain that if it’s easier. If you had 1,000,000 in cash stuffed inside the mattress drawing no interest do you think that it would only by you 20,000 worth of fishing gear today ?
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