RvTV95XBeo@sh.itjust.works to politics @lemmy.world · 1 day ago2% Wealth Tax on Just 3,000 Billionaires Could Raise $250 Billion a Year: Nobel Economists | Common Dreamswww.commondreams.orgexternal-linkmessage-square21fedilinkarrow-up1319arrow-down12
arrow-up1317arrow-down1external-link2% Wealth Tax on Just 3,000 Billionaires Could Raise $250 Billion a Year: Nobel Economists | Common Dreamswww.commondreams.orgRvTV95XBeo@sh.itjust.works to politics @lemmy.world · 1 day agomessage-square21fedilink
minus-squareprocrastitron@lemmy.worldlinkfedilinkarrow-up12·22 hours agoNote that the inflation adjusted average rate of return on the stock market over the long run is ~8% (https://www.officialdata.org/us/stocks/s-p-500/1980) That means a 2% wealth tax on billionaires would not make them lose a single penny. Instead, it would just slow down the rate at which their wealth grows (while still growing exponentially).
Note that the inflation adjusted average rate of return on the stock market over the long run is ~8% (https://www.officialdata.org/us/stocks/s-p-500/1980)
That means a 2% wealth tax on billionaires would not make them lose a single penny. Instead, it would just slow down the rate at which their wealth grows (while still growing exponentially).