Originally published at http://www.commondreams.org/views/2020/01/28/it-time-bill-billionaires
I wish people would understand the difference between “the 1 %” and “the .0001”.
1% = making 400k per year. Sure, their tax rates should be increased, but they are NOT the billionaires (.0001 %), or even the deci-millionaires (.001 %).
Some ideas: Wealth tax (similar to what E. Warren proposed), taxing capital gains & dividends/interest as common income (while increasing the standard deduction), eliminate the SS cap, create a financial transaction tax on wall street trading ($ 2, or .0001% - whichever is greater). Also need to stop transnational corps doing business in the US from offshoring their profits.