The failure to tax wealth distorts democracy by giving outsized political sway to the super-rich and illegitimate power to those with extreme wealth, while simultaneously depriving governments of financial resources.
https://www.theguardian.com/news/2024/jan/23/austrian-heiress-marlene-engelhorn-who-is-giving-away-90-per-cent-of-her-wealth-im-creating-the-tax-i-would-want-to-pay?utm_source=press.coop
#Wealth #Oligarchy #TaxTheRich
@mark_ohe that's just not factually true, though.
It's getting the accounting backwards to act as if failure to take is deprivation, like saying I lost money because I didn't mug that guy on my way into the building this morning.
No, failure to tax doesn't distort. It's a lack of distortion, it's complaining about something that didn't happen.
@volkris
It's clearly a failure to tax everyone equally.