If other nations can have billionaires and we can't, and our country is vast and rich, we will be at a disadvantage.
The WANT of money is corrupting itself. Actually having the money itself is not needed. People who want money will destroy your little system, and throw your country into chaos, ruination and poverty, united by a conspiracy of common interests.
I would rather just regulate what needs regulating, within reason, with a gentle hand, and only a strong hand with the worst of violations. For the record, I would be much harsher than the us has tended to be when it comes to pollution, etc.
Also countries should tax companies on money that goes out of the country based off of their overall profit. So if Google makes 10% profit over costs the. We charge them 30% tax on the money they funneled out of Australia. Done.
Gonna need tons of capitals controls to prevent money from leaving, rich people are good at moving. To what end? So the federal government gets even more money to spend on subsidies, police riot gear & highways. They'd turn the Pentagon into an octagon before they'd meaningfully help their citizens.
I definitely think 50%, like they supposedly do in China. No exceptions. You try to evade it, you go to jail for six months, enjoy. I think that's what happened to Jack Ma.
Anything would be alright with me, I’m in Australia and so I’m definitely warped with my international tax views. Probably why i’m at the extreme end of the scale