There are a myriad of news articles here on Lemmy that display the abhorrent influence billionaires have on our society (especially the US, where I reside). I consistently read comments where the posters appear hopeless and despondent of the situation, while others jokingly refer to the guillotine.
As for myself, I have recently found myself with a lot of free time on my hands after being laid off and want to gather ideas on what would be the best hypothetical route to solve this issue. Let me be clear: These are only THEORETICAL IDEAS and I do not condone any illegal activity.
Historical precedent: While I am not intimately familiar with the inner workings of the Occupy Movement, I do know that they were constantly attacked as being unorganized and lacking structure. It would be wise to not fall into the same pitfalls if those were accurate assessments.
Logical formulation: The foundations of the key points of the movement must be logically sound to withstand any external (and internal for that matter) scrutiny.
Motto: If a motto or slogan is chosen, it must be unambiguous so that attacks are directed to the movement, not the motto itself.
I am also aware that most people can’t spare any time to these kind of movements. Similar to the Texas seceding news, many commentators have noted that most Texans are living paycheck to paycheck and wouldn’t be able to dedicate any time to their cause. I would understand that would be same for this cause as well. However, since I have the time right now, I only ask for your ideas.
Broad issues: High cost of living (mortgages, rent, groceries, etc.) Inflation Homelessness
Philosophical underpinnings: Is there a Threshold of Greed? If so, what is too much wealth?
Possible means of reductions: Voluntary donation or renunciation of wealth past a certain point (highly unlikely) Taxation (also unlikely) Seizing assets (illegal and would most likely set a poor precedent)
It might also to organize an open database of billionaires with their respective fields (Forbes is closed) to help organize a boycott of some sort Though I suspect their fingers are in everything and it would be highly impractical.
Sorry for the word diarrhea. What are your thoughts?
Tax the income of corporations not the profit. The same way you get taxed your VAT. That means that corporations can’t tax evade: if they make income in a country, they get taxed. They can’t go an declare the profit in the Netherlands or Ireland and skip paying taxes.
Create and use parallel institutions to allow society to thrive without needing to play the billionares economy game. Example: communication tools outside of a market involvement such as Lemmy, Element (matrix). Economy tools. Association tools. See the application of Dual Power by socialists, which is what you are proposing here, a redistribution of power and wealth.
Vote for those pushing for these.
Step 1: Slay the dragon.
Step 2: Redistribute its mountain of gold back into the community.
Easy to say “re-distribute”, harder than hell to do equitably and fairly.
While true, what’s your point? Being difficult doesn’t mean we shouldn’t do it.
A wealth tax does seem warranted for billionaires. I don’t like the idea of taxing something inert but honestly that’s how they make money. They borrow against thousands of shares at a time and pay zero taxes on the loan.
The wealth tax has never sat well with me either. We are talking about taxing someone based on the value of an asset that they would need to collateralize or liquidate to pay the tax bill. That doesn’t seem right or fair to me.
On the other hand, I read today about Trader Joe’s and their suit against the NLRB and I’ve changed my mind. They engaged in a bunch of shady union-busting behavior, they got caught, and now they’re arguing the NLRB is unconstitutional. Meanwhile, the NLRB has been wielding this power for like 90 years.
Where we’re at is, obscenely wealthy people who break the law are essentially giving the government the finger and saying they should be allowed to do it. They’re acting as if they believe they are powerful enough that they are no longer subject to laws. Trump and Musk are no different. I’m sure there are plenty more.
It used to be people like that were mostly normal. They would make contributions, get their way most of the time, get some pushback when they went too far, maybe kicked and screamed a little bit, but they would eventually get in line.
Now, they simply say the rules are bullshit and they shouldn’t have to follow them anymore. These people are undermining our government and subverting the rule of law. It’s time they get kicked in the teeth.
They derive their power from wealth. Although our government has plenty of problems, it’s still ours if we can hold onto it. It’s time to make a statement to anyone who dares threaten that. FAFO. I’m all for taxing these fuckers.
Don’t have time for a longer post right now. But here’s my question about the wealth tax -
Trickle down BS and Invisible Hand BS all say that if people have wealth, they WILL reinvest it. That’s the correct thing to do.
When you drive a car, the correct thing to do is drive safely and at a logical speed. If you do irrational driving, you get a ticket.
So why isn’t it logical that if you are participating in a capitalist economy, and not doing the correct thing of constantly reinvesting your money, then the govt should fine you for it?
Wealth shouldn’t just sit around and do nothing, specially in foreign bank accounts. If it does, it should be fined… or taxed.
Also land ownership is literally extracting money from having arbitrarily exclusive access to an “inert” ressource.
“billionaires” wouldn’t be so bad if they just:
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paid the taxes expected, with no shenanigans
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were obligated to activate their cash in the economy. No hording, get that cash moving through the economy.
I’d make personal asset-backed debt above a certain amount per capita taxable. The real reason they pay so little tax is that they never actually realize their assets - they just borrow against them, and all that debt is then slowly deleted through inflation.
So, when they use asset-backed debt instead of income - tax it.
