There are a myriad of news articles here on Lemmy that display the abhorrent influence billionaires have on our society (especially the US, where I reside). I consistently read comments where the posters appear hopeless and despondent of the situation, while others jokingly refer to the guillotine.

As for myself, I have recently found myself with a lot of free time on my hands after being laid off and want to gather ideas on what would be the best hypothetical route to solve this issue. Let me be clear: These are only THEORETICAL IDEAS and I do not condone any illegal activity.

Historical precedent: While I am not intimately familiar with the inner workings of the Occupy Movement, I do know that they were constantly attacked as being unorganized and lacking structure. It would be wise to not fall into the same pitfalls if those were accurate assessments.

Logical formulation: The foundations of the key points of the movement must be logically sound to withstand any external (and internal for that matter) scrutiny.

Motto: If a motto or slogan is chosen, it must be unambiguous so that attacks are directed to the movement, not the motto itself.

I am also aware that most people can’t spare any time to these kind of movements. Similar to the Texas seceding news, many commentators have noted that most Texans are living paycheck to paycheck and wouldn’t be able to dedicate any time to their cause. I would understand that would be same for this cause as well. However, since I have the time right now, I only ask for your ideas.

Broad issues: High cost of living (mortgages, rent, groceries, etc.) Inflation Homelessness

Philosophical underpinnings: Is there a Threshold of Greed? If so, what is too much wealth?

Possible means of reductions: Voluntary donation or renunciation of wealth past a certain point (highly unlikely) Taxation (also unlikely) Seizing assets (illegal and would most likely set a poor precedent)

It might also to organize an open database of billionaires with their respective fields (Forbes is closed) to help organize a boycott of some sort Though I suspect their fingers are in everything and it would be highly impractical.

Sorry for the word diarrhea. What are your thoughts?

  • barryamelton@lemmy.ml
    61·
    9 months ago

    Tax the income of corporations not the profit. The same way you get taxed your VAT. That means that corporations can’t tax evade: if they make income in a country, they get taxed. They can’t go an declare the profit in the Netherlands or Ireland and skip paying taxes.

    Create and use parallel institutions to allow society to thrive without needing to play the billionares economy game. Example: communication tools outside of a market involvement such as Lemmy, Element (matrix). Economy tools. Association tools. See the application of Dual Power by socialists, which is what you are proposing here, a redistribution of power and wealth.

    Vote for those pushing for these.

        • XEAL@lemm.ee
          4·
          9 months ago

          That’s it.

          Extinguish the bloodline, cut heads until there’s no hoarder, tax evading billionare.

      • kureta@lemmy.ml
        1·
        9 months ago

        If you are at the point of guillotining billioners, you can also seize their wealth.

      • faintwhenfree@lemmus.orgEnglish
        1·
        9 months ago

        Just shows how complicit people are, even when guillotineing a billionaire, we don’t know how to acquire their wealth, anyway other comments explain how to do that.

  • BrianTheeBiscuiteer@lemmy.world
    442·
    9 months ago

    A wealth tax does seem warranted for billionaires. I don’t like the idea of taxing something inert but honestly that’s how they make money. They borrow against thousands of shares at a time and pay zero taxes on the loan.

    • Joker@discuss.tchncs.de
      102·
      9 months ago

      The wealth tax has never sat well with me either. We are talking about taxing someone based on the value of an asset that they would need to collateralize or liquidate to pay the tax bill. That doesn’t seem right or fair to me.

      On the other hand, I read today about Trader Joe’s and their suit against the NLRB and I’ve changed my mind. They engaged in a bunch of shady union-busting behavior, they got caught, and now they’re arguing the NLRB is unconstitutional. Meanwhile, the NLRB has been wielding this power for like 90 years.

      Where we’re at is, obscenely wealthy people who break the law are essentially giving the government the finger and saying they should be allowed to do it. They’re acting as if they believe they are powerful enough that they are no longer subject to laws. Trump and Musk are no different. I’m sure there are plenty more.

      It used to be people like that were mostly normal. They would make contributions, get their way most of the time, get some pushback when they went too far, maybe kicked and screamed a little bit, but they would eventually get in line.

      Now, they simply say the rules are bullshit and they shouldn’t have to follow them anymore. These people are undermining our government and subverting the rule of law. It’s time they get kicked in the teeth.

      They derive their power from wealth. Although our government has plenty of problems, it’s still ours if we can hold onto it. It’s time to make a statement to anyone who dares threaten that. FAFO. I’m all for taxing these fuckers.

      • damnthefilibuster@lemmy.world
        11·
        9 months ago

        Don’t have time for a longer post right now. But here’s my question about the wealth tax -

        Trickle down BS and Invisible Hand BS all say that if people have wealth, they WILL reinvest it. That’s the correct thing to do.

        When you drive a car, the correct thing to do is drive safely and at a logical speed. If you do irrational driving, you get a ticket.

        So why isn’t it logical that if you are participating in a capitalist economy, and not doing the correct thing of constantly reinvesting your money, then the govt should fine you for it?

        Wealth shouldn’t just sit around and do nothing, specially in foreign bank accounts. If it does, it should be fined… or taxed.

      • BrianTheeBiscuiteer@lemmy.world
        1·
        9 months ago

        Property taxes already exist (maybe those could use tweaking too) so the idea of taxing something simply because you possess it isn’t all that foreign.

  • GBU_28@lemm.eeEnglish
    394·
    9 months ago

    “billionaires” wouldn’t be so bad if they just:

    • paid the taxes expected, with no shenanigans

    • were obligated to activate their cash in the economy. No hording, get that cash moving through the economy.

    • Iceblade@lemmy.world
      5·
      9 months ago

      I’d make personal asset-backed debt above a certain amount per capita taxable. The real reason they pay so little tax is that they never actually realize their assets - they just borrow against them, and all that debt is then slowly deleted through inflation.

      So, when they use asset-backed debt instead of income - tax it.

  • Deceptichum@kbin.social
    363·
    9 months ago

    Through force.

    The system is well and truly rigged, that there is no option for “democratic” means to counter it.

  • Devi@kbin.social
    312·
    9 months ago

    You don’t need to do anything fancy, just make them pay taxes. No loopholes, no moving your money to tax havens, accurate income calculations taxed correctly, gangs of auditors making sure it happens.

    • Blackmist@feddit.ukEnglish
      15·
      9 months ago

      A simple wealth tax will do.

      “I am worth $150 billion, everybody look at me!”

      Great, give us $15 billion and we’ll see you next year.

      • Devi@kbin.social
        131·
        9 months ago

        It’s definitely an option if you want to take more from them, but just paying the taxes they owe like the rest of us have to would make a huge difference.

  • demesisx@infosec.pubEnglish
    275·
    9 months ago

    we should just Go aroUnd acting lIke they are the best ever Landlords on the pLanet and there is nOthing unusual abouT them beIng the oNly people on earth familiar with thE concept of happiness, right fellow captive serfs?

    • foggy@lemmy.world
      14·
      9 months ago

      I’m not sure, I kinda feel like we could use GUILLOTINES the way GUILLOTINES have been used historically, to spread that happiness around.

  • Tolstoshev@lemmy.world
    242·
    9 months ago

    Education. Until the masses realize the tricks being used on them, we can redistribute all we want and it will still all funnel up to the top again.

  • rusticus@lemm.ee
    221·
    9 months ago

    Nearly all billionaires have unrealized wealth, meaning they own a large percentage of a giant corporation (ie Bezos, Musk). So taxing them for money they don’t really own won’t work. But there is a better solution.

    There are 38 companies in the US whose yearly revenue is greater than 100 BILLION dollars. In fact, the total amount of revenue over 100 billion for these companies combined is a bit shy of the US government yearly budget.

    No company needs to revenue that much. Tax the revenue (ie 5%) over 100 billion revenue. This has the added benefit of helping to prevent monopolies and “too big to fail”.

    Here is the list and revenue in case you think these companies don’t need to be taxed lol. https://en.m.wikipedia.org/wiki/List_of_largest_companies_in_the_United_States_by_revenue

    Edit: Extra easter egg: The tax rate that you set could be changed each year to meet the amount of the federal deficit (ie the amount the government “overspends”). This would have the added advantage of limiting excessive government spending because politicians would have to explain to the largest corporations why they are spending their money. And you get a guaranteed balanced budget every year!