Until we recognize the systemic role that supermoney plays in our economy, we will never make much of a dent in inequality. Simply raising taxes is a bit like sending out firefighters with hoses spraying water while another team is spraying gasoline.
Taxation needs a total revamp because it's inefficient, slow and the rich adapt by becoming a moving target.
The tax system could and should become more dynamic rather than more predictable.
Exactly: decide the tax for each citizen at the end of the year, by a division of the required amount.
Clemens, J., & Veuger, S. (2020). Implications of the Covid-19 Pandemic for State Government Tax Revenues (Working Paper No. 27426; Working Paper Series). National Bureau of Economic Research. https://doi.org/10.3386/w27426
The most lucrative and influential government positions involved tax collection.
By valuing capital gains above all others, we end up extracting the value of our marketplaces and rendering them incapable of generating economic activity. As a Deloitte study showed, corporate profits over net worth have been decreasing for 75 years. Corporations are great at accumulating capital, but terrible at deploying it. They vacuum the money off the playing field altogether, impoverishing the markets and consumers–not to mention the employees–on whom they ultimately depend.