3 Crucial Reasons Why The Super-Rich Should Embrace A 70% Tax Rate
*Three Reasons Why The Super-Rich Should Embrace A 70% Tax Rate.* By Paul Buchheit, Feb. 4. 2019. *EDITED:
Senator Lindsey Graham once said, "It's really American to avoid paying taxes...It's a game we play." There are many good reasons why Americans should be paying those taxes, and why there should be even higher taxes on the richest individuals and corporations. There are several good personal reasons for wealthy Americans to reconsider the tax issue, to start focusing on the importance of a more equal society, and to trust the democratic system to make that happen.
1. They Should Be Scared to Death about Potential Threats to Their Personal Safety.
A new industry has developed in doomsday shelters for rich people awaiting Armageddon. But bunkers and security forces won't be much defense against viruses and microdrones. Or against all-out war or revolution. In his book, "The Great Leveler," Walter Scheidel argues that throughout history the fortunes of the rich have been destroyed or diminished in four ways: war, revolution, state collapse, and plague. Increasing unrest and improved killing technologies are making all of these more likely. People of means should be doing everything possible to ease the ongoing tensions by reducing inequality...
The super-rich better be sure to install anti-viral air and water filters in their bunkers, because the risk is growing for a global pandemic. Public health expert Dr. Ali S. Khan notes, "A deadly microbe like smallpox — to which we no longer have immunity — can be easily recreated in a rogue laboratory.."
2. They Should Be Horrified by Visions of the Earth to be Occupied by Their Great-Grandchildren.
National Geographic's 2012 Greendex Survey reveals a remarkable human response to environmental damage: "[Those] demonstrating the least sustainable behavior as consumers, are least likely to feel guilty about the implications of their choices for the environment." Much of that ill-behavior comes from the richest among us. The world’s population was 1.5 billion in 1900. It's 7.5 billion now. It's projected to be approaching 10 billion in just thirty years! By the end of this century our air and water may be too befouled to sustain life, rich or poor...
3. They Should Be Worried About Losing Everything to China.
Russian President Vladimir Putin said, "Whoever becomes the leader in [artificial intelligence] will become the ruler of the world." Chinese leaders have announced a plan to become the "premier global AI innovation center" by 2030. China as ruler of the world is certainly not in the plans of the American super-rich, who want nothing more than homeland security for their estates and portfolios. But China appears to be taking the lead in AI-driven military weaponry, unmanned aerial, ground, surface, and underwater vehicles that are becoming increasingly autonomous. China is also leading the way in moon exploration...
So How Will a 70% Tax Rate Help? First, for leveling, to lessen the inequality-driven threats of war, revolution, state collapse, and plague; second, to support a unified national effort to protect our great-grandchildren from environmental disaster; and third, to support a unified national effort to maintain our global leadership in AI and space technologies.
The Davos billionaires had a nice slogan: "Committed to improving the state of the world." But they don't want to be inconvenienced by actually paying for it. As Michael Dell explained, "I feel much more comfortable with our ability as a private foundation to allocate those funds than I do giving them to the government." That's as arrogant as it gets...
- MORE, https://www.commondreams.org/views/2019/02/04/three-reasons-why-super-rich-should-embrace-70-tax-rate
- Book Review, "The Great Leveler," By Walter Scheidel
https://www.theguardian.com/books/2017/mar/29/the-great-leveller-walter-scheidel-review-paul-mason
As Michael Dell explained, "I feel much more comfortable with our ability as a private foundation to allocate those funds than I do giving them to the government." That's as arrogant as it gets.
"The Rich, The Poor And The Trash," DW/Deutsche Welle documentary: "Inequality undermines people's willingness to protect the environment."
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