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New tax idea - make the billionaires spend money on social programs

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  • New tax idea - make the billionaires spend money on social programs

    You can either pay 2% of your income to the govt in taxes or spend it on social welfare programs of your choosing - like education, health, housing, food, sports, infrastructure etc.


    So this is a program that has been started in India - any company making more than 10M dollars profit has to either spend 2% of their net income on social programs or pay it to the govt. So guess what people do? They start their own charity and use that charity as an advertising tool - win-win - poor people get food/clothing/shelter -companies get to tell the public what good people they are.

    What do you think?

  • #2
    How much revenue does a tax like this generate?

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    • #3
      Originally posted by tOSUfanboi2 View Post
      How much revenue does a tax like this generate?
      taxing the top 100 billionaires 2% would generate 78 Billion in new revenue

      https://www.bloomberg.com/news/artic...der-warren-tax


      So imagine if Elon Musk was made to spend 5.2 Billion on providing free internet services to all the native american tribes. or think of Bill Gates having to spend 4Billion on medicines and health care to poor people in W. Virginia or Mark Zuckerberg spending 2 Billion building toilets for homeless people in SF to shit in
      Last edited by sctrojan; 03-01-2021, 04:10 PM.

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      • #4
        Originally posted by sctrojan View Post

        taxing the top 100 billionaires 2% would generate 78 Billion in new revenue

        https://www.bloomberg.com/news/artic...der-warren-tax


        So imagine if Elon Musk was made to spend 5.2 Billion on providing free internet services to all the native american tribes. or think of Bill Gates having to spend 4Billion on medicines and health care to poor people in W. Virginia or Mark Zuckerberg spending 2 Billion building toilets for homeless people in SF to shit in
        That’s not a lot, and spread across all of the places it’d be collect/the U.S, it’s nothing.

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        • #5
          Originally posted by tOSUfanboi2 View Post

          That’s not a lot, and spread across all of the places it’d be collect/the U.S, it’s nothing.
          So expand it to the top 10,000 Americans and now you're talking big bucks - incidentally 78Billion dollars is more than the amount the UK spends on defense.

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          • #6
            I'd love to see Elon spend it all on HyperLoop.

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