Earlier quoted context omitted.
Yes, because money == power, and lobbying is legal. If you had progressive taxation that would essentially prevent any entity from acquiring power to rival the state. The inherent weakness of democracies is that they require constant care and attention. If you look away for a second, there is going to be some corporation trying to re-write the tax code or do away with regulations.
> If you had progressive taxation that would essentially prevent any entity from acquiring power to rival the state. We have progressive taxation. That doesn't matter because fixed costs are fixed. If it costs $30,000/year to live, someone who makes $30,000/year will accumulate no wealth even if you tax them at 0%, because all of their income is going to food and rent and utilities. Whereas someone who makes a billio…
In the US it stops at ~35. Lets go all the way to 100%.
> Then that hundred million dollars collects interest every year going forward.
The progressive capital gains taxes also need to go up to 100%.
>Corporations have more money than any individual, but the largest ones are publicly traded, so that would still be the case even if no individual shareholder had a lot of wealth. Because the corporation would, and its executives would thereby be in control of those resources and use them to capture the government.
That is why we have monopoly laws. The point isn't that corporations should not accumulate wealth, the point is that the state should not have a rival in terms of power.
>Why is it that the largest corporations and most corrupt organizations are the ones asking for regulations?
Sure, they want regulations that build a moat, they don't want regulations that reduce their wealth. I'm talking about the latter.
>What you need is to constrain the legislators from passing those laws to begin with, regardless of whether they start off at the behest of a billionaire or a trade organization or just the Senator's brother-in-law.
Yes, and campaign finance reform would reduce some of this donor/lobby culture. Fixed amount of ad-spend per candidate, no PACs, etc.