Taxing the rich

There are many good reasons why Americans should be paying those taxes, and why there should be even higher taxes on the richest individuals and corporations. Of course, these arguments have generally been ignored. But there are several good personal reasons for wealthy Americans to reconsider the tax issue, to start focusing on the importance of a more equal society, and to trust the democratic system to make that happen.

A new industry has developed in doomsday shelters for rich people awaiting Armageddon. But bunkers and security forces won’t be much defense against viruses and microdrones. Or against all-out war or revolution.

In his book, ‘The Great Leveler’, Walter Scheidel argues that throughout history the fortunes of the rich have been destroyed or diminished in four ways: war, revolution, state collapse, and plague. Increasing unrest and improved killing technologies are making all of these more likely. People of means should be doing everything possible to ease the ongoing tensions by reducing inequality. But that means thinking long-term.

The super-rich better be sure to install anti-viral air and water filters in their bunkers, because the risk is growing for a global pandemic, perhaps initiated by some of the bored and underemployed and angry young men for whom terrorism is “an egalitarian, equal-opportunity employer”. As public health expert Dr Ali S Khan notes, “A deadly microbe like smallpox – to which we no longer have immunity – can be easily recreated in a rogue laboratory”.

Another real fear for the billionaires is a micro-drone armed with an injectable poison and programmed with facial recognition software to hover patiently before targeting a single individual, after which it can self-destruct to eliminate all evidence of its mission. This is no longer science fiction. The specifications for these drones are all available – or soon to be available – to any skilled tech enthusiast. And to anyone with deadly intentions. Experts are divided on the prospect, but lethal weapons specialist Steve Wright says, “The technologies needed to build such autonomous weapons – intelligent targeting algorithms, geo-location, facial recognition – are already with us...It won’t take much to develop the technology”.

National Geographic’s 2012 Greendex Survey reveals a remarkable human response to environmental damage: “[Those] demonstrating the least sustainable behavior as consumers, are least likely to feel guilty about the implications of their choices for the environment.” Much of that ill-behavior comes from the richest among us. As a Deutsche Welle documentary states: “Inequality undermines people’s willingness to protect the environment.

The world’s population was 1.5 billion in 1900. It’s 7.5 billion now. It’s projected to be approaching 10 billion in just thirty years! By the end of this century our air and water may be too befouled to sustain life, rich or poor. Conservatives tell us not to worry about such problems, because technology will allow us to ‘adapt’ to climate change. That’s a self-serving way to gloss over the issues without taking any responsibility for their prevention. And without thinking about the state of the world for their own great-grandchildren.

Russian President Vladimir Putin said, “Whoever becomes the leader in [artificial intelligence] will become the ruler of the world”. Chinese leaders have announced a plan to become the ‘premier global AI innovation center’ by 2030.

China as ruler of the world is certainly not in the plans of the American super-rich, who want nothing more than homeland security for their estates and portfolios. But China appears to be taking the lead in AI-driven military weaponry. As a Wired review states, “From a military perspective, China is using AI to develop a range of unmanned aerial, ground, surface, and underwater vehicles that are becoming increasingly autonomous.”

China is also leading the way in moon exploration, with U.S. Air Force experts suggesting that the dark side of the Moon could potentially store anti-satellite weapons that are invisible to people on earth. The super-rich – and the rest of us – won’t even know what’s coming.

This article has been excerpted from: ‘Three Reasons Why the Super-Rich Should Embrace a 70% Tax Rate’.

Courtesy: Commondreams.org