Sunday, May 31, 2026

"Any Billionaires Who Pay the Tax Will Earn It Back in Just a Few Months"

"Billionaires' taxes amount to zero. So long as they don't sell any of the shares that made them rich, they're not actually forced to pay taxes on the skyrocketing value of those shares. A 'wealth tax' worthy of the name would ensure they pay the same as the rest of us, around 40%. That would not prevent them from amassing fortunes. Their $1 million would still grow to $190 million over 20 years—which is colossal, just not as colossal as $3.3 billion."

Stephen Land at the Los Angeles Times explains "[w]hy billionaires shouldn't fuss over the wealth tax."

And Jonathan Last at The Bulwark writes, "As the saying goes: Capitalism is too important to be left to the capitalists."

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