"My first thought reading this? It's not that billionaires would suddenly stop being billionaires.

They'd still be unimaginably wealthy, but lower-middle class families would finally feel like the system was a little ChatGPT explained that billionaires grow their wealth at lightning speed while paying relatively little tax.

;;

"If they were taxed like a household making $50,000 to $70,000, the gap between them and the middle class would start shrinking.

And honestly, this makes sense. Billionaires would still have private jets and mega-mansions, but the climb for the rest of us wouldn't feel quite so impossible."

"ChatGPT suggested it would force billionaires to rethink how they store and grow their wealth instead of just relying on loopholes and tax shelters."

;;

"This one surprised me. ChatGPT pointed out that if billionaires had less untouchable wealth, their ability to dominate politics, media and lobbying might weaken.

It's not that billionaires would suddenly lose all influence.

But they wouldn't have quite the same grip on shaping policies that often benefit them more than the average voter."

more at the link

EDIT

"They'd still be unimaginably wealthy, but lower-middle class families would finally feel like the system was a little fairer.

ChatGPT explained that billionaires grow their wealth at lightning speed while paying relatively little tax."

Why shouldn't everyone pay the same rate on income no matter the source?

I mean, the only reason they don't now is that they bribed politicians to give them different rates than FDR did.

#6

More prevarication... it must be catching.

Could we get a 5 year old to explain this to Eb?

The playing field would be a bit more level.

I answered it, as did Snoofy.

Even though it should have been obvious.

It gives Joe a more level playing field on which to compete, as was mentioned... and less biased media in his ear.

#17

Descriptions aren't arguments... do let us know when you find that 5 year old to make one for you.

Let's give you another hint though, since you are avoiding Snoofers post like the plague.

"If they were taxed like a household making $50,000 to $70,000, the gap between them and the middle class would start shrinking."

That you are blind to equal justice under the law being a significant factor in a competitive marketplace is truly... unsurprising.