AI and Jobs - Part VII - Wealth Taxes, Inheritance Taxes and Automation Taxes - Billionaire Class 3, 2026
-Image by Copilot Welcome Back, Class! This will be our last class for the time being because I have to do my own taxes -yes, really, so let’s dive straight into Wealth Taxes. Why Do we need Wealth Taxes? Anyone? Yes, Larry that’s half right, because wages are taxed, while wealth is barely touched at all and a lot of people are being paid with shares and stock options to reduce the amount of income tax they have to pay. In addition, if you look at the table below, you can see that’s where the wealth has been accumulating and compounding, while the tax base of governments has been progressively shrinking. There's very little fat left to trim without causing more suffering or costing more not only in social harm, but economically in say, damaged roads and poorly functioning services, extra law enforcement and so on. A lot of investment has also gone into other assets such as property and luxury goods such as yachts and private planes which have only attracted tax...