(Replying to PARENT post)

The rich aren't stashing most of their money under a mattress. Gates, Bezos, etc are worth billions, but that wealth is almost all based off of the stock prices in the companies they own percentagess of.

👤newmanships🕑8y🔼0🗨️0

(Replying to PARENT post)

Tax the ownership interest in equities, just as we have property taxes for land ownership.

We could also take the route of the Federal Reserve purchasing up equities (The Bank Of Japan does this [1]), issuing deposit accounts to citizens directly (trivial for the Federal Reserve to support this [disclaimer: I work in the financial services industry, and feel qualified to make this statement]), and providing UBI to those accounts using the Federal Reserve as an intermediary/conduit (lookout Blackrock and Vanguard! there's a new index fund manager on the block!).

Voilà, Citizen's Dividend.

EDIT: The Federal Reserve operates independently of the US government, and does not require Congressional or Presidential approval to perform this "monetary policy". [2]

"Although an instrument of the U.S. Government, the Federal Reserve System considers itself "an independent central bank because its monetary policy decisions do not have to be approved by the President or anyone else in the executive or legislative branches of government, it does not receive funding appropriated by the Congress, and the terms of the members of the Board of Governors span multiple presidential and congressional terms."

[1] https://www.bloomberg.com/news/articles/2017-07-18/boj-s-etf...

[2] https://en.wikipedia.org/wiki/Federal_Reserve_System

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(Replying to PARENT post)

Yes they are. They are shifting trillions into tax free foundations, trillions offshore, and trillions into corporate stock buy backs.

When you have trillions you just need a bigger mattress, like Ireland, for instance.

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