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Progressives Unveil OLIGARCH Act to Combat 'Existential Threat' of Extreme Wealth
(www.commondreams.org)
this post was submitted on 27 Jul 2023
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politics
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Isn't the issue that they are currently hiding and obfuscating their income? Increasing the percentage is a great idea and all but 1% or 8% of zero is still zero.
I don't understand what this statement says. The it's has to pick 30% of all households that make more than a thousand times the medium income? Is that lower than standard or higher? Why 30% and not 100%?
since they took the effort to include it in the proposal, I would assume it is significantly higher. Where I live the standard often varies from state so state, because some states use a low enforcement rate to attract buissnesses ("as in yeah, our federal taxes aren't cheaper here, but we if you cheat it's not like we are gonna catch you...").
I assume not a 100% because that would be a herculean effort and at a certain point if your chances of getting caught are high enough -and there are significant fines- you won't need 100% because the risk is high enough to make most people not cheat out of fear of getting caught.