Squeeze the Rich

 Recent revelations that the richest Americans pay a tiny proportion of their income in taxes, or no taxes at all, reveal a deep rot at the core of American economics.  Bezos, Bloomberg, Buffett, Icahn, and Musk each had years paying zero taxes while their wealth has exploded.  Even their five year average federal income taxes are tiny: https://www.propublica.org/article/the-secret-irs-files-trove-of-never-before-seen-records-reveal-how-the-wealthiest-avoid-income-tax

It is time to bring this to a stop.  A good start would be to require publication of the tax returns of all Americans with a net worth of over 100 million.  Even better would be making everyone's income and tax public after the manner of Finland.  It's also time for Elizabeth Warren's wealth taxes - something like 1% of everything over 50 million and 2% of everything over 1 billion, annually.  Tax exiles should forfeit a big chunk of any American assets.

Proceeds should be dedicated to national health insurance and education.


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