A couple of slices:
Extreme wealth disparity is not due to a lack of taxes, but rather a lack of competition. In a competitive market, profit margins are quite low. If any one company tries to set its prices much higher than the cost of production, rivals quickly undercut it. Unfortunately, large parts of our economy are blocked off from competition by laws and regulations. This allows monopolistic corporations to charge exorbitant prices.
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Therefore, it is important to understand how billionaires create and maintain these monopolies that allow them to amass such unfathomable riches.
And:
A lack of competition allows billionaires and their corporations to not make, but take wealth from everyone else. It is not enough to merely tax them on their ill-gotten gains. We need reforms to ensure that they can’t exploit and fleece everyone in the first place.
Do read the whole thing.
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Billionaires and corporations should be taxed at 93% or more.
Tax as it stands wouldn’t do shit, sadly. Billionaires already know how to dodge taxes to begin with. We need to close loopholes to force them to pay the tax they’re supposed to pay in the first place. That in itself would go a long way.
You can make taxes they can’t avoid. And should they leave, the better a country doesn’t thrive because of its billionaires but despite them.
We can do both.
Loopholes aren’t bugs but features! In a capitalist society, the laws are made by the wealthy and the ones they sponsor to be representatives!