Assuming billionaires were going to get a special tax, how would you actually determine how much to tax them? Sure some would be straightforward like Musk where it’s entirely derived from a few companies with known ownership stakes, but what about all the others?
We don’t even know the names of most of the billionaires. With all the games they can play to hide money, now made even easier thanks to the changes Trump made in his first few months, how would you even figure out who and what amount to tax? They don’t have a normal salary or easily documented income like everyone else.
I really like this approach. The only problem I see with this is that the measure of center you’re using for the calculation would have to be chosen well. Maybe a weighted average towards lower incomes or using a median, but properly choosing the measure of center would be really important along with verifying that a linear increase or decrease in percentage is also the best solution.
I think figuring out the rate at which taxation should increase relative to ones income should be the first step, then mapping that onto a set of equations that could calculate taxes would be the best approach.