There’s always gonna be these people knowingly breaking the law if they can easily afford the fines. Do you think she would keep driving without her seat belt and smoking wherever she pleases if she was fined say 10% of her yearly income every time she was caught?
I should’ve been less subtle, what is Elon Musk’s salary? Couldn’t find his quickly but Zuckerburg’s is $1 a year and Bezos is $81,000. So how would an income-based fine work for those who can claim a very low yearly income and still live a lavish lifestyle? That’s the loophole that would be used.
That’s true, but that’s because of a different loophole : we only count poor people’s income as income. Meaning salary.
We simply have to consider all monetary gain, including non liquid assets as income, and the issue vanishes. So shares are counted for example.
I agree that would solve that issue, that a trust could sidestep. Main concern I have is those trying to evade paying their fair share will work faster than legislation to hide/loophole their assets.