Mamdani, the presumptive Democratic nominee to be the next mayor of New York and a self-identified democratic socialist, said Sunday billionaires contribute to inequality.
you don’t tax the income. you tax luxury expenditure.
if they commission a yacht, they pay 200% tax on that. if they charter a jet, they pay 500% tax on that spend. if they retain a jet, they pay 800% tax on all its expenses from hangar parking to servicing to everything else.
the tax on any car above a guideline value should increase 1% for every 1% increase in value of the car. say, you pay 1% tax for a 1000 dollar car, 50% for a 1500 dollar car, 100% for a 2000 dollar car, 300% for a 4000 dollar car and so on. and not just on the sticker price, but on every service attached to that vehicle (insurance, maintenance, etc.) for its life.
similarly for luxury hotels, clothing, jewellery, watches, golf and ski resorts, and marriages in venice.
Yeah, cuz people obviously don’t store wealth in bank accounts or investment properties and/or shell corporations… That’s why the Caymans are famous for their shellfish and local hospitality, and Bezos’ ex-wife didn’t end up getting much cash in their divorce.
It’s also fortunate that these idiots haven’t figured out that they could probably have a (few) companies that hold things (excuse my rough terminology for this concept I just now came up with) maybe even purchase them too - like jets, cars, maybe yachts even - and not have to pay any of those taxes!
you don’t tax the income. you tax luxury expenditure.
if they commission a yacht, they pay 200% tax on that. if they charter a jet, they pay 500% tax on that spend. if they retain a jet, they pay 800% tax on all its expenses from hangar parking to servicing to everything else.
the tax on any car above a guideline value should increase 1% for every 1% increase in value of the car. say, you pay 1% tax for a 1000 dollar car, 50% for a 1500 dollar car, 100% for a 2000 dollar car, 300% for a 4000 dollar car and so on. and not just on the sticker price, but on every service attached to that vehicle (insurance, maintenance, etc.) for its life.
similarly for luxury hotels, clothing, jewellery, watches, golf and ski resorts, and marriages in venice.
Yeah, cuz people obviously don’t store wealth in bank accounts or investment properties and/or shell corporations… That’s why the Caymans are famous for their shellfish and local hospitality, and Bezos’ ex-wife didn’t end up getting much cash in their divorce.
It’s also fortunate that these idiots haven’t figured out that they could probably have a (few) companies that hold things (excuse my rough terminology for this concept I just now came up with) maybe even purchase them too - like jets, cars, maybe yachts even - and not have to pay any of those taxes!
Man, i hope word doesn’t get out about this!