This is one of the things that is wrong with inequality. Those with more money than they need for a comfortable lifestyle get to buy influence — manufacture consent — that is out of proportion to their knowledge and ability. That is why they should be taxed at 90% of their earnings and wealth over 5 million to 10 million dollars. Federal governments do not need that money as revenue but rather they need to balance the playing field. In hockey and other sports, the wealthy have been restricted to how much they can spend to put a winning team together. Why do we not do this with politics? Is it fair for Americans to object to foreign influence when your tax policies allow some men to become so wealthy that they can do this?
And those of you here who have objected to non-Americans influencing or trying to influence your politics should think hard about this. [north99.org]
The majority of Americans don't realize that during the time of our most abundant economic growth, the 1950s and 60s, we had a tax policy similar to what you are proposing here.
@ToolGuy You got that right. If they are allowed to keep all of it, they can use it to buy influence and with the influence they can shape the economic rules in their favor allowing them to make even more and buy even more influence and the cycle continues on and on at the expense of everyone else. Better to use those funds for the common good.
@ToolGuy What do you think ought to be done with the money that is taxed?