r/technology • u/marketrent • Aug 16 '26

Society Bernie Sanders calls out Sergey Brin for spending over $100 million to defeat California’s billionaire tax — ‘If California passes its one-time 5% wealth tax, Brin would owe $14 billion and still be worth $270 billion’

https://www.yahoo.com/news/politics/articles/bernie-sanders-calls-sergey-brin-120113695.html
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u/mclumber1 Aug 17 '26

The purpose of this proposed wealth tax isn't to fund government services, it is to punish the wealthy.

There are much better ways to raise revenue for the government, and doing so that predominantly impacts those who can afford to pay more.

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u/Sweaty-Ruin5381 Aug 17 '26

Wealth taxes are stupid and a dangerous precedent to set. You're correct that it's a punishment that is imposed on success. I think it also panders to the far left who seem to want everyone to have the same economic status.

As for other ways to do things I'd be interested to see some debate on luxury taxes, income tax restructuring and changes to the taxation of multiple homes.

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u/stateofbidet Aug 18 '26

What do you think of taxing capital gains as normal income as well as overhauling the upper brackets?

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u/Sweaty-Ruin5381 Aug 18 '26

I think both of those ideas should be seriously considered.