The capitalist class turns its financial capital into political capital. It’s not the only way they gain political power, but it’s a major one. The less capital they have, the less political power they can buy.
The capitalist class controls the productive forces, what gives it political power is their command of the industry and finance, which would not diminish if they were taxed.
Also the bourgeois state is entirely built by the capitalist class and serves as their tool, and the taxes they pay would go primarily towards maintaining the capitalist system and suppressing liberation movements at home and abroad.
Of course, capitalists don’t want to pay for that out of their pocket and much prefer for the working class to foot the bill, but if the push comes to shove I’m pretty sure they’d find ways to get their dollars worth from the taxes they pay.
Taxing billionaires is good, especially if it’s done to put reigns on austerity, but it does not challenge the way capitalists are entrenched in the liberal government.
Tax money, like employment they provide, becomes another political leverage. It does not reduce the power the capitalist class can exert on the political system.
The capitalist class turns its financial capital into political capital. It’s not the only way they gain political power, but it’s a major one. The less capital they have, the less political power they can buy.
The capitalist class controls the productive forces, what gives it political power is their command of the industry and finance, which would not diminish if they were taxed.
Also the bourgeois state is entirely built by the capitalist class and serves as their tool, and the taxes they pay would go primarily towards maintaining the capitalist system and suppressing liberation movements at home and abroad.
Of course, capitalists don’t want to pay for that out of their pocket and much prefer for the working class to foot the bill, but if the push comes to shove I’m pretty sure they’d find ways to get their dollars worth from the taxes they pay.
Taxing billionaires is good, especially if it’s done to put reigns on austerity, but it does not challenge the way capitalists are entrenched in the liberal government.
Tax money, like employment they provide, becomes another political leverage. It does not reduce the power the capitalist class can exert on the political system.