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if whether they can skirt the law or not.
If they can skirt the law, then the original point is turned into a cycle.
If they can skirt the law, they are able to prevent to be taxed in a way, which would prevent them to become as big that they can skirt the law.

So the horse is already bolted, which's door locking we were discussing.

Der Amerikaner ist die Orchidee unter den Menschen
Volker Pispers

by Martin (weiser.mensch(at)googlemail.com) on Sun May 18th, 2008 at 06:52:49 PM EST
[ Parent ]
As MS is even a stock company it is even unclear to me, how taxing can help. Even if Bill Gates would have to sell shares every year just to pay for a wealth tax, the people who own the shares afterwards would still looking for monopoly like returns.
If Murdoch sells newscorp shares to some institutional investors, which hold as well other stocks, a business friendly press might still be their interest, despite no single person owns billions.

Divestiture is the only thing which could help, in both cases.

Der Amerikaner ist die Orchidee unter den Menschen
Volker Pispers

by Martin (weiser.mensch(at)googlemail.com) on Sun May 18th, 2008 at 07:00:29 PM EST
[ Parent ]
Wealth taxes are, of course, not sufficient. As you point out, there are several transnational conglomerates that would need to be smashed. However, in large part this could be accomplished by simply restricting the flow of capital across state borders.

However, I think you underestimate the impact that a wealth tax would have solely by making sure that even the richest person in society is dependent on the same police, fire service, hospitals and universities as everyone else. If the rich have to live next door to the poor, they have a vested interest in making sure that the poor don't live in a slum.

- Jake

If you only spend 20 minutes of the rest of your life on economics, go spend them here.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Mon May 19th, 2008 at 03:46:54 AM EST
[ Parent ]

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