Mamdani, the presumptive Democratic nominee to be the next mayor of New York and a self-identified democratic socialist, said Sunday billionaires contribute to inequality.
They used to dodge 90% taxes by reinvesting in their workers and their company’s reputation. That way the company would last a hundred years and continue to pay out your family for generations, and all you’ve gotta do is hire people to keep it running.
Why not just have a cap? 90% still means that they can further accumulate wealth, and taxes means they will try to dodge them.
They used to dodge 90% taxes by reinvesting in their workers and their company’s reputation. That way the company would last a hundred years and continue to pay out your family for generations, and all you’ve gotta do is hire people to keep it running.