Could you define "fair share" please in a way that everyone is agree with?
[1] https://www.cbo.gov/system/files/2020-10/56575-Household-Inc...
What kind of benefits the person is gaining by buying $25MM worth of taxes?
I thought so too.
Give that person a chance to reinvest these money into local economy, growing productive businesses instead of slapping the "filthy rich" label and suddenly there is a lots of capital are used for everyone's benefits instead of escaping.
Example: Rich people > Shit newspapers > Misinformed populace > Shit political choices > Shit government > Corruption > Rich people now have more money.
Hmm there's so many hypotheticals there.
Perhaps they may fund the roads this persons company uses. Or the foodstamps this persons underpayed workers rely on. Perhaps they sustain the people that pay into his rentseeking scheme.
Perhaps that's not the question you should be asking because not a whole lot of people give a damn about this persons 25 million staying in his pocket. (This person him/herself being part of this 'not a whole lot of people')
and a whole lot of people on the other hand would rather this person be incentivized to avoid these taxes by investing in R&D and/or increasing the wages of the people he depends on so as to benefit society and to stimulate the economy.
Unfortunately many people don't appear to think like that. Or are willfully blind/ ignorant. Take your pick.
A bit of simple math is needed to supplement decisions in terms of return on investment.
Overbloated government spending and useless wars are not a good arguments either.
If government cannot manage their budgets well, why would people who can manage their budgets better should listen?
Avoiding guillotines?
You can already do this, though. Monaco exists. That folks like Bezos, Musk, and Gates stick around in the US indicates some intangible benefits here that justify paying some tax.
People would be happy to pay 100% in tax to avoid guillotine but how much of a prosperous and productive society can be built with this approach?
The carrot is "you get to live in a prosperous, stable society made possible in part by your contributions via taxes".
The stick is what happens when you don't.
The reality is that wealthy person can choose both (live where he wants and keep money safe from tax robbery) and poor can neither.
Inequality is brought by high taxation and not by filthy rich who refuses to obey government stupid policies.
People who make $100MM are no smarter than those that don’t, I mean Einstein didn’t make that type of money right? It’s not merit either, it’s simply money...under our system money makes money, concentration of capital doesn’t benefit everyone it benefits the person with the capital.
Consider wealth management itself, you want to diversify your investments, you would never put 90% of your wealth into .1% of the assets you own. The rich know and live by this rule, well that same rule applies to society, you don’t want .1% controlling 90% of the wealth so investment is determined by .1% of the population. You want the wealth diversified and in the hands of many so no single person controls investment.
Especially if this is a majority of non-productive, lazy individuals unwilling to get educated, work and prefer to live by selling their votes for printed money of government grants.
In a democracy, yes it does.
Oh, and in my country, it is punished, it's just that the team which must find about the culprit are totally under staffed, what-a-surprise.
Tax avoidance and tax evasion are distinct things. Tax avoidance is (deliberately) legal. Why do you think it should be punished?
For better or worse the only way that type of inequality happens is as a direct result of the policies of the country they live in, thus they should be grateful and thankful for living in a country that not only allows but promotes that type of concentration of wealth.
In exchange for the benefit of living in such a country that promotes such wealth inequality, they should pay a 90% tax rate to reflect the wealth inequality itself. They will bitch and moan of course, but they will still be far richer and better off than everyone else, and everyone else will be better off not living in a country with such high inequality and a country with tremendous national resources, as opposed to a country that is $28T in debt further decreasing the quality of life of those without the personal wealth to not need public services.