The technological race among industry giants and the wave of layoffs they have announced has revived the debate about the advisability of taxing automation
Billionaires aren’t sitting on billions in currency held in banking accounts. They are holding billions in assets which are valued at those numbers. You couldn’t just take all of Bezo’s “wealth” above $1b without liquidating most of Amazon.
Not that I disagree with you in principle, it’s just not as simple as your proposed solution requires.
It’s literally how their wealth is calculated, but okay. Even if I’m incorrect and it’s not already the case they can easily dodge such a tax by buying a bunch of non-liquid assets and making it the case.
Billionaires aren’t sitting on billions in currency held in banking accounts. They are holding billions in assets which are valued at those numbers. You couldn’t just take all of Bezo’s “wealth” above $1b without liquidating most of Amazon.
Not that I disagree with you in principle, it’s just not as simple as your proposed solution requires.
And who told you this?
The billionaires. Straight up.
It’s literally how their wealth is calculated, but okay. Even if I’m incorrect and it’s not already the case they can easily dodge such a tax by buying a bunch of non-liquid assets and making it the case.