The USA system is made this way. There are other systems in the world (namely the scandinavian countries) that don't allow individuals to accumulate that amount of wealth.
Yes, I probably should have voted a couple extra times to make sure my vote counted, much like a billionaire can, by paying millions of dollars to a marketing firm to do advertising of every kind to push their agenda. Shame on me.
> There are other systems in the world (namely the scandinavian countries) that don't allow individuals to accumulate that amount of wealth.
This is a common misconception. The Scandinavian model has changed rapidly the last few decades. Sweden now ranks higher than the US in number of dollar billionaires per capita, even if none are at Ellison level yet.
Edited to add: in fact, the Scandinavian model has always been more about equality of income, rather than wealth. There are, and has been throughout the 20th century, wealthy dynasties as well as industry tycoons who has largely been left alone by the social democratic system, and indeed viewed more as an important part of the system than anything else. Since the 90s, though, it has changed rapidly, such that today there is no tax on wealth, inheritance, gifts or real estate, as well as a low corporate income tax.
Thanks for explaining some intricacies about taxes, however this does not disprove my point.
1. Scandinavian countries impose higher taxes on their rich VS the US. It does not have to be a wealth tax. Think effective tax rate.
2. Income inequality is lower there compared to the US.
It is a very different system than the US, it's frankly strange to have to argue that.
Nah, this is something you say about a dude who stole your highschool girlfriend, not about the absolute sort of psychopath who could, you know, literally give every kid in America free lunch with little to-no-effect on his own life and money, and just chooses not to.
The USA system is made this way. There are other systems in the world (namely the scandinavian countries) that don't allow individuals to accumulate that amount of wealth.