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.
Billionaires are a byproduct of the capitalist system. People will always try to hoard money. What governments should try is to appropriately tax people according to their wealth, material possessions, assets etc and not merely because they earn money beyond a certain arbitrary threshold. In order to do this governments have to spy on their own people. And this will make many people mad.
Billionaires are a byproduct of the capitalist system. People will always try to hoard money. What governments should try is to appropriately tax people according to their wealth, material possessions, assets etc and not merely because they earn money beyond a certain arbitrary threshold. In order to do this governments have to spy on their own people. And this will make many people mad.
I guarantee that you could tax rich people more without spying.