A wealth tax does seem warranted for billionaires. I don’t like the idea of taxing something inert but honestly that’s how they make money. They borrow against thousands of shares at a time and pay zero taxes on the loan.
The wealth tax has never sat well with me either. We are talking about taxing someone based on the value of an asset that they would need to collateralize or liquidate to pay the tax bill. That doesn’t seem right or fair to me.
On the other hand, I read today about Trader Joe’s and their suit against the NLRB and I’ve changed my mind. They engaged in a bunch of shady union-busting behavior, they got caught, and now they’re arguing the NLRB is unconstitutional. Meanwhile, the NLRB has been wielding this power for like 90 years.
Where we’re at is, obscenely wealthy people who break the law are essentially giving the government the finger and saying they should be allowed to do it. They’re acting as if they believe they are powerful enough that they are no longer subject to laws. Trump and Musk are no different. I’m sure there are plenty more.
It used to be people like that were mostly normal. They would make contributions, get their way most of the time, get some pushback when they went too far, maybe kicked and screamed a little bit, but they would eventually get in line.
Now, they simply say the rules are bullshit and they shouldn’t have to follow them anymore. These people are undermining our government and subverting the rule of law. It’s time they get kicked in the teeth.
They derive their power from wealth. Although our government has plenty of problems, it’s still ours if we can hold onto it. It’s time to make a statement to anyone who dares threaten that. FAFO. I’m all for taxing these fuckers.
Don’t have time for a longer post right now. But here’s my question about the wealth tax -
Trickle down BS and Invisible Hand BS all say that if people have wealth, they WILL reinvest it. That’s the correct thing to do.
When you drive a car, the correct thing to do is drive safely and at a logical speed. If you do irrational driving, you get a ticket.
So why isn’t it logical that if you are participating in a capitalist economy, and not doing the correct thing of constantly reinvesting your money, then the govt should fine you for it?
Wealth shouldn’t just sit around and do nothing, specially in foreign bank accounts. If it does, it should be fined… or taxed.
An upper income cap for individuals AND corporations. $250 million for individuals, $250 billion for corps. 90% taxes on revenue over $1 million. Tax idle stock at 1% per share, per quarter.
Yeah, there are a thousand loophole. The very rich get paid in stock or low interest loans and the like. Thier stated income is often very low to avoid paying taxes. Corporations of course can just split up into multiple corporations to avoid caps.
No. It really, really isn’t. Stop allowing those same billionaire dragons dictate the narrative. The reason wealth redistribution seems so fraught with issues is that billionaires pay to spread that falsehood.
Just shows how complicit people are, even when guillotineing a billionaire, we don’t know how to acquire their wealth, anyway other comments explain how to do that.
You’re more than welcome to post on shitty food porn. There’s not a lot of activity and the votes will let you know if it’s the right place (I don’t remove posts unless they’re breaking rules). It kind of has two interpretations - pictures of shitty food (self explanatory) or food porn that’s shitty (ie bad lighting, bad presentation, etc).
Or let me know if you start an “average food porn” community and I’m more than happy to link it in the sidebar of SFP.
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