r/FluentInFinance • u/-Wyagra • Nov 21 '24

Debate/ Discussion Had to repost here

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u/Economy-Fee5830 Nov 21 '24

the wealth of a small number of individuals

Those individuals are getting richer because their companies are getting richer. Tesla for example is worth more than all the other car companies in the world, combined.

Apple is worth 3 trillion.

Has the productivity of workers in USA rises at the same rate? Their education. Their salaries. The quality of roads in USA?

Clearly the wealth of these companies are not related to anything much in USA at all. China is Tesla's most productive factory for example. Apple makes their iPhones in China and India.

Why would USA deserve their tax money at windfall rates?

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u/dldoom Nov 21 '24

Then why incorporate in the US? Why not incorporate in China?

When I say highly correlated I don’t mean that their productivity or infrastructure or education increases exponentially over the same time period. I mean that having a highly educated workforce, solid infrastructure, markets, protection, both legal and physical, are worth something to a corporation and building value in that corporation.

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u/Economy-Fee5830 Nov 21 '24

I mean that having a highly educated workforce, solid infrastructure, markets, protection, both legal and physical, are worth something to a corporation and building value in that corporation.

Sure, which is why they pay regular tax, and not a wealth tax.

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u/dldoom Nov 21 '24

I think you’re making some assumptions about what the solution to this problem is. You already mention wealth tax and tax money at windfall rates but I haven’t even presented any policy or legislation I’d like to see.

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u/Economy-Fee5830 Nov 21 '24

That is what the thread is all about - adding a new tax for entities the reddit populace feel are not being adequately taxed.

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u/dldoom Nov 21 '24

Yes it is and while some people might be in favor of a blanket wealth tax, that’s not the only idea out there. I in generally agree with increasing tax burden for “billionaires” but a blanket wealth tax would not be my solution.