I used to be against a universal basic income but I've come to appreciate just how much that could go towards solving some basic problems for a lot of people, including people I know and some I am related to.
What is infuriating is that if we “took” from the top 1% of
earners ‘self net worth increasers’, enough to alleviate homelessness for the bottom 1%, they wouldn’t even feel it. It would be a fourth digit from the left kind of thing. I think it should help the bottom 15% or so, should the amount “taxed” to the top 1% be raised to a level where it had any impact whatsoever upon the mega billionaires’ daily wants and needs.
What we need now is a bit of good old fashioned socialism! No tax havens for the uber- rich, no deductions for loan interest payments against assets (a federal surcharge on such loans above 8-9 digits might be helpful)…
Hell, there is only one billionaire I ever heard of (though I’m sure there are others) who would be penniless if all accounts were settled. Let the rest tough it out with the billions they are already “worth”.