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So "enough of us" can take anything by forcing the asset to be valued at an artificially high value, force them to sell it for taxes, and then reduce the price
by IcyWindows 3mo ago
So "enough of us" can take anything by forcing the asset to be valued at an artificially high value, force them to sell it for taxes, and then reduce the price down again to keep it ourselves?
- seventytwo 3mo agoYep. That’s how democracy and law work.
- imgabe 3mo agoMob rule is not something to celebrate.
- HauntedDrum 3mo agoHow do you, personally, distinguish between democracy and mob rule?
- imgabe 3mo agoIn the extreme there is no distinction. This is why the US and almost every other democracy are not direct democracies.
- seventytwo 3mo agoThings he wants = democracy Things he doesn’t want = mob rule
- imgabe 3mo agoNo, it's called rule OF law. Not rule BY law. We create a law, like property rights, and we work within that framework. We don't suddenly decide that property rights don't matter any more because someone happens to have stuff we particularly want to take. That's how dictatorships work.
- Alpha3031 3mo agoIt would seem quite an essential liberty for a democratic polity to be able to impose this thing called "taxes". I suppose it's up to you to decide whether that is compatible with the rule of law and property rights.
- imgabe 3mo agoWe already have taxes, the vast majority of which are paid by the wealthy. Taxes are not a cap on allowable net worth. That is a different thing altogether. That is economic suicide.
- Alpha3031 3mo agoMost of the rah rah billionaires shouldn't be allowed people are just proposing a wealth tax from what I've been told. If I'm wrong I'm open to hearing about it.
- imgabe 3mo agoWealth taxes are also economic suicide but most of the "rah rah billionaires shouldn't be allowed" people seem to have absolutely no idea how anything works and think billionaires have billions of dollars sitting in their checking accounts and they could easily write an "end homelessness" check but just don't because they're mean.
- Alpha3031 3mo agoI don't really care to advocate much for wealth taxes since I don't particularly like them over other options. I just don't think imposing wealth taxes (even if they're progressive to the point that it's higher than the average growth rate of, e.g., equities, or maybe even just the risk-free rate when wealth is in the billions) is something that ought to be considered "how dictatorships work". So you know, agree to disagree, I'm not going to argue anything other than that I don't particularly care for the framing of it as dictatorial or mob rule because the same can be done for other taxes. Which I have done and it doesn't appear you wish to dispute anyway.