this post was submitted on 02 Jul 2023
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Even without a tax in place (and I seriously and truly support putting a tax in place), millionaires and billionaires could take relatively small steps to improve life for a lot of people.
Do you remember last year that news story where a church used the donations from the collection plate to buy up the medical debt for some people? If I'm recalling correctly, the church bought up the debt, pennies on the dollar, and with like $50k were able to help over 100 people. I may have wrong figures for the money value and the number of people impacted, but I think the point remains that a lot of people's lives got better without the medical debt, both financially and emotionally.
Billionaires have the capacity to do this same type of thing. Just pick any city and throw money at a major problem that directly impacts citizens. You don't even need to work with the city or state government there! Get together with your other billionaire friends and strategize to pick a variety of cities. Make a game out of it about who can afford to pay off the problems in Los Angeles or Chicago, and who can only afford to pay off the problems in Sacramento or Springfield.
I 100% agree they could and should, but I don't think it should be made their responsibility. You also wouldn't have to tax very drastically, because replacing the healthcare system with something like Medicare for All would cost less than the overall cost of our current bloated system, so the money could just get reallocated and the tax increases would just shift the responsibility slightly to the wealthiest of us. It should be popular with the "party of small business" and "lowering tax for the middle class" since it would cost businesses and workers both less money for better outcomes, but they only pretend to have principles when it can be leveraged for power. Health insurance is a fucking scam, and the fact that we can't unanimously agree companies making money extorting us with our lives aren't beneficial to society is bleak.