RvTV95XBeo@sh.itjust.works to politics @lemmy.world · 2 months ago2% Wealth Tax on Just 3,000 Billionaires Could Raise $250 Billion a Year: Nobel Economists | Common Dreamswww.commondreams.orgexternal-linkmessage-square21fedilinkarrow-up1320arrow-down12
arrow-up1318arrow-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 · 2 months agomessage-square21fedilink
minus-squareprocrastitron@lemmy.worldlinkfedilinkarrow-up12·2 months 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).