A 1% annual wealth tax on billionaires in Illinois would, by itself, balance the budget.

Reply to A 1% annual wealth tax on billionaires in Illinois would, by itself, balance the budget. on Sat, 04 Apr 2026 05:15:57 GMT

grease@universeodon.com — Sat, 04 Apr 2026 05:15:57 GMT

@a @theleftistlawyer billionaires exist because of a failure in society. Somebody was not held accountable when stepping on all the necks necessary to accumulate such extraordinary wealth. At my current, decently-paid, civil service public safety job, I would have to work over 1,200 years to accumulate one billion dollars. Gross, not net. No single individual needs, or deserves, that much money and influence. Not even the "nice" ones.

Reply to A 1% annual wealth tax on billionaires in Illinois would, by itself, balance the budget. on Sat, 04 Apr 2026 04:21:38 GMT

criticalangle@mastodon.social — Sat, 04 Apr 2026 04:21:38 GMT

@brouhaha @theleftistlawyer how do you logic that?

Reply to A 1% annual wealth tax on billionaires in Illinois would, by itself, balance the budget. on Sat, 04 Apr 2026 04:21:05 GMT

criticalangle@mastodon.social — Sat, 04 Apr 2026 04:21:05 GMT

@theleftistlawyer it would be interesting to make a table showing wise could be done with every percentage taxed (1,2,3,4,5,6,7,8,9.....).

Reply to A 1% annual wealth tax on billionaires in Illinois would, by itself, balance the budget. on Sat, 04 Apr 2026 04:19:01 GMT

meaningfulbits@mastodon.social — Sat, 04 Apr 2026 04:19:01 GMT

@theleftistlawyer how many billionaires are in Illinois? I imagine there are like 5-10 maybe? Sports team owners and bank dudes. I imagine a world where every state but one taxes the shit out of billionaires. Maybe put a jet tax in them so they can't just fly in do business and fly out.

Reply to A 1% annual wealth tax on billionaires in Illinois would, by itself, balance the budget. on Sat, 04 Apr 2026 03:53:18 GMT

a@girllich.link — Sat, 04 Apr 2026 03:53:18 GMT

@theleftistlawyer I am sorry, but this is a bad idea. We should tax things we want less of, but we should want more billionaire entrepreneurs

Reply to A 1% annual wealth tax on billionaires in Illinois would, by itself, balance the budget. on Sat, 04 Apr 2026 03:30:32 GMT

jawarajabbi@mastodon.online — Sat, 04 Apr 2026 03:30:32 GMT

@theleftistlawyer
Yeah and make sure moving to Florida or Nevada or wherever doesn't extinguish the tax liability. Tax income, cap gains etc. based on where they're earned, not where the tax cheats have fled to.

#uspol #TaxBillionaires #TaxMillionairesToo #EisenhauerTaxRates

Reply to A 1% annual wealth tax on billionaires in Illinois would, by itself, balance the budget. on Sat, 04 Apr 2026 03:22:32 GMT

adubya@techhub.social — Sat, 04 Apr 2026 03:22:32 GMT

@theleftistlawyer think of what that will cause, they might threaten to move to Idaho or Wyoming where only corrupt uncritical journalists & influencers will visit them all on private planes!

Reply to A 1% annual wealth tax on billionaires in Illinois would, by itself, balance the budget. on Sat, 04 Apr 2026 02:57:09 GMT

ghostonthehalfshell@masto.ai — Sat, 04 Apr 2026 02:57:09 GMT

@theleftistlawyer

Here is another worthy idea to pursue at the state level.

The states have the constitutional right to dictate the terms of corporate operation within their territory. They can forbid corporations from spending money on political parties or politicians at least that’s my understanding.

There’s more than one way to skin citizens United. I think Robert Reich has spoken on this just recently.

Antitrust is unnecessary component of bringing morbid wealth back to earth

Reply to A 1% annual wealth tax on billionaires in Illinois would, by itself, balance the budget. on Sat, 04 Apr 2026 02:55:35 GMT

gurre@mastodon.nu — Sat, 04 Apr 2026 02:55:35 GMT

@theleftistlawyer
And don't adjust the lower limit upwards til inflation gets us to where most doctors reach past it at some point in their lives.
If anything, add another % at 10 billion, and another at 100 billion, etc.

Reply to A 1% annual wealth tax on billionaires in Illinois would, by itself, balance the budget. on Sat, 04 Apr 2026 02:50:23 GMT

brouhaha@mastodon.social — Sat, 04 Apr 2026 02:50:23 GMT

@theleftistlawyer
We can't do that! With a 1% annual wealth tax, in fifteen years, they'd have five times as much money as they do now!

Reply to A 1% annual wealth tax on billionaires in Illinois would, by itself, balance the budget. on Sat, 04 Apr 2026 02:11:55 GMT

lizette603_23@mastodon.social — Sat, 04 Apr 2026 02:11:55 GMT

@theleftistlawyer every gd one of them

Reply to A 1% annual wealth tax on billionaires in Illinois would, by itself, balance the budget. on Sat, 04 Apr 2026 01:35:46 GMT

shiitaketoast@beige.party — Sat, 04 Apr 2026 01:35:46 GMT

@theleftistlawyer the rich can pay 1% of assets under management to wealth managers for uncertain returns. Spending an additional 1%AUM to fix the economy would probably lead to better returns.