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- cross-posted to:
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For the first time in the history of the United States, billionaires had a lower effective tax rate than working-class Americans.
For the first time in the history of the United States, billionaires had a lower effective tax rate than working-class Americans.
Tax them? De-billionaire them
Taxes are one method for doing this. Though it has to be a high enough tax.
Under the (currently dominant) credit theory of money, the implication is that billionaires owe the government a lot of money… and it’s time to pay up.