Zero surprise that a program designed to make gentrification as profitable as possible has been abused by people enjoying the total lack of oversight.
Source: Billionaires Keep Benefiting From a Tax Break to Help the Poor. Now, Congress Wants to Investigate. — ProPublica
Even aside from greatly reducing income inequality and poverty, drastically increasing the taxes of the ultra-wealthy would be worth it just to reduce their political influence.
Source: Warren’s wealth tax: why conservatives fear it – Vox
I’m pretty sure this “they never stop getting richer, even after they retire” thing would be slowed or stopped if these billionaires had to just pay their taxes like a normal person.
Source: Tech’s top 20 billionaires keep getting richer no matter how much money they give away – Vox
Raising concerns a wealth tax could negatively impact philanthropy and foundations overlooks the public good that would (hopefully) be more evenly distributed through increased government services financed by those taxes.
Source: A wealth tax could have unpredictable effects on politics, philanthropy – Vox