Work Reform

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A place to discuss positive changes that can make work more equitable, and to vent about current practices. We are NOT against work; we just want the fruits of our labor to be recognized better.

Our Philosophies:

All workers must be paid a living wage for their labor.
Income inequality is the main cause of lower living standards.
Workers must join together and fight back for what is rightfully theirs.
We must not be divided and conquered. Workers gain the most when they focus on unifying issues.

Our Goals

Higher wages for underpaid workers.
Better worker representation, including but not limited to unions.
Better and fewer working hours.
Stimulating a massive wave of worker organizing in the United States and beyond.
Organizing and supporting political causes and campaigns that put workers first.

founded 2 years ago

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Most Of BilIionaires’ $7.6 Trillion Has Never Been Taxed - Americans For Tax Fairness (americansfortaxfairness.org)

submitted 3 days ago* (last edited 3 days ago) by AfterOnions@lemmy.world to c/workreform@lemmy.world

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[–] reabsorbthelight@lemmy.world 4 points 3 days ago* (last edited 3 days ago)

The article says this

Sen. Wyden’s proposed Billionaires Income Tax (BIT) would tax the wealth gains of billionaires and those with consistent income above $100 million. Currently, such investment gains are only taxed if the underlying asset is sold. But the ultrawealthy don’t have to sell to benefit. They can secure low-interest loans secured against their rising fortunes and live luxuriously tax-free. Under Wyden’s plan, such wealth-growth income would be taxed every year just like worker wages are now. The Joint Committee on Taxation estimated this proposal would raise $557 billion in new revenue over the next decade from just a small number of ultra-wealthy oligarchs.

I don't like wealth tax for a number of reasons, but a capital gains tax on unrealized gains that phases in after a certain amount seems very fair. The phasing in is important because average people's homes and other assets should be untouched imo, but after a certain amount of unrealized income it should be.

I'd also suggest taxing secured low interest loans as a form of realized capital gains.

I would also suggest allowing taxes to be paid in stock shares (eg. not USD). It might prevent liquidity market issues