Wherever I wander I wonder whether I’ll ever find a place to call home…

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Joined 5 months ago
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Cake day: December 31st, 2025

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  • That’s a practice that should be outlawed anyway. Stocks are inherently volatile, so using them to back loans is a really bad idea. I’m surprised lenders allow them to do it, because you’d think they’d want to be sure their investments are secure.

    That being said, raising tax brackets on capital gains is only a partial solution. We’d also need to close loopholes that allow them to defer taxation indefinitely, such as eliminating exemptions for reinvesting dividends. The interest they accrue in a year should all be subject to that year’s taxation.

    Write-offs need to be fixed as well. So many of them use shell companies to buy a bunch of luxury items as “business expenses” just to lower their tax liability. That needs to change.

    The whole tax code needs to be reworked, but assuming we can manage to do that, then a one-time wealth tax (along the lines of 99% after the first billion) followed by higher, fully-graduated capital gains tax brackets (up to say 99% after the first 100 million) would be enough.

    As long as it’s combined with more comprehensive reforms such as repealing Citizens United, and reinstating Net Neutrality and the Fairness Doctrine, among other things.

    Oh, and moving beyond FPTP to proportional representation and/or ranked-choice voting. Maybe adding a few political parties to break up the duopoly (at a minimum I say five: centrists, moderate left, moderate right, hardline left, and hardline right; this would effectively force parties to build coalitions and govern by consensus, rather than endless campism and mudslinging).

    Disclaimer:

    I know, it might sound questionable to give hardline right-wingers a party but the reasons for doing so include maintaining a semblance of impartiality and balance, as well as containment.

    It doesn’t mean every party is guaranteed 20% of seats in congress. Let them have their lunatic fringe* and let the voters show what they think of them. Lots of republican voters hate maga and wish there were more moderate republicans (doesn’t mean I agree with them on most things, but I’ve spoken to many who think they just don’t have any other option).

    *(this doesn’t mean tolerating hatred, oppression, or treasonous and unconstitutional conduct, by the way; but if 3 or 4 out of 5 parties can agree to censure such conduct, then that makes it a lot easier to manage than when you just have two parties divided neatly down the middle).

    It also enables progressives to untether from the Democratic Party, and guide their own policy agendas. This will, in the long run, demonstrate which is more popular with the voters, without the artificial suppression from the DNC leadership.