Canada

Ok but how are you supposed to do that when the most powerful and influential people in the world are the very people who rely on that method to maintain their power and influence?

And watch the few remaining small businesses who are operating on a shoestring budget and are the only ones actually paying capital gains get eaten up by the large corporations who offshore their gains. Small businesses who have debt aren’t able to write off principal debt payments so on the books they make money that they pay tax on, but in reality they just gave that money back to the bank to pay off ‘business assets’ which aren’t worth shit when the business isn’t making money. So they make just enough money to pay the bank, then are hit with taxes for the money they paid the bank, and they float by in the red until the inevitable bankruptcy. If they are a franchise, corporate then comes in and sells the business to the next sucker who is willing to gamble on the false hope of the franchise model. Big corporate sells the business to a new ‘owner’ every 5 or 10 years, and the banks get another government backed SBA loan with no risk.

We are in the latter days of capitalism, increasing capital gains won’t work when the big guys already don't pay shit.

But capital gains only execute when you sell.

The top marginal tax rate in the US peaked in 1951 at 92% on income in excess of $400k (joint filing two income), the equivalent of about $4.7M in today's money. That should come back.

https://64.media.tumblr.com/220f8957ce7813f034a335d5fc3fc4d0/tumblr_no6d84XUfZ1trty0oo4_400.gif

Plus it actually could be used to do something* crazy, like help people or the environment.

• Autocorrect awesome sauce

Wage is worthless wording. Most ultra rich don’t have wages - at least not relative to their change in worth. We need to change how taxes fundamentally work.

Anyone with two brain cells can understand that it's a wordplay on "minimum wage" and the implementation of this isn't really going to rely on the narrow definition of wages.