“The five richest men in the world have doubled their wealth since 2020.”
Not much else to add, right?
Except maybe quote historian Rutger Bregman who, 2019 in Davos, said:
“(…) he asked a question like, name me one country where a top marginal tax rate of 70% has actually worked? (…) the United States, that’s where it has actually worked, in the 1950s during Republican President Eisenhower (…) The top marginal tax rate in the U.S. was 91% (…)”
Right now it’s at 36% — and even this is known to be massively undermined by “tax-saving models.” Jeff Bezos, for example, is moving to Florida because there is no capital gains tax there, as Fortune reported last November.
I’ve long thought we need to set up person-person wealth transfers when it comes to home ownership in this country, loved learning about this version in PDX