Which is far lower percent of his fortune than I paid of mine. That's not an effective way to govern a society. He should be required to pay far more. <edit>I don't blame him for only paying that much. I blame our political leaders for allowing the wealthy to write laws which allow it, and I blame society for putting those political leaders in that position with the current system.
'Not Good for Democracy,' Critics Warn as Mega-Billionaire Elon Musk Moves to Buy Twitter "Musk making a play for Twitter out of his petty cash drawer is one more example of why the pooling of so much wealth in the hands of a few is a societal disease." https://www.commondreams.org/news/2...-mega-billionaire-elon-musk-moves-buy-twitter
That would just be the beginning.... When the income tax was introduced, it was 'only for the wealthy'. As time goes on, it's easier to ensnare a lot more people into that tax. Give it ~30 years and the tax would be for everyone. Let's not conflate unrealized capital gains with income... They are not the same.
I didn't. And there is no possible way that tax would ever be for everybody. That would destroy Wallstreet and our system in general. It only works as a disincentive for the ultra wealthy.
