"These are all positive ways to tax the rich, but the best way to do that is with a progressive income tax or a wealth tax. The state's voters might go for a wealth tax on billionaires in the fall, which would set a national precedent."
Activists will deliver 1,000 personal postcards to the mayor at City Hall to describe the human costs of budget cuts. The mayor and many local officials claim there is no money, while the city remains among the richest in history. Many residents hold fortunes above $50 million, and the Trump Administration has increased wealth for the very rich by cutting taxes. Progressives have pursued higher transfer taxes on mansions, large office buildings, and major corporations, including proposals targeting very large companies and high-earning CEOs. The most effective approach is a progressive income tax or a wealth tax, potentially supported by a state wealth tax on billionaires that could set a national precedent.
#san-francisco-budget-cuts #taxing-the-wealthy #wealth-tax #progressive-taxation #community-activism
Read at 48 hills
Unable to calculate read time
Collection
[
|
...
]