Taxes & the Oligarchs
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Anonymous
where does Musk get much of his money? Oh ya, the US federal government |
Anonymous
You want to tax wealth and not income? How would that work? |
Anonymous
We could use Elizabeth Warren’s plan: The Ultra-Millionaire Tax taxes the wealth of the richest Americans. It applies only to households with a net worth of $50 million or more-roughly the wealthiest 75,000 households, or the top 0.1%. Households would pay an annual 2% tax on every dollar of net worth above $50 million and a 3% tax on every dollar of net worth above $1 billion. Because wealth is so concentrated, Saez and Zucman project that this small tax on roughly 75,000 households will bring in $2.75 trillion in revenue over a ten-year period. The Ultra-Millionaire Tax would impose: Zero additional tax on any household with a net worth of less than $50 million (99.9% of American households) 2% annual tax on household net worth between $50 million and $1 billion 1% annual Billionaire Surtax (3% tax overall) on household net worth above $1 billion The Ultra-Millionaire Tax also includes strong anti-evasion measures, including but not limited to: a significant increase in the IRS enforcement budget; a minimum audit rate for taxpayers subject to the Ultra-Millionaire Tax; a 40% "exit tax" on the net worth above $50 million of any U.S. citizen who renounces their citizenship; and systematic third-party reporting that builds on existing tax information exchange agreements adopted after the Foreign Account Tax Compliance Act. |
Anonymous
| You realize that billionaires will still exist…just that NONE of them will be US citizens? They will just take all their companies to other countries. |
Anonymous
I don’t want them. I don’t want their distorting, disfiguring influence. I don’t want them owning our news. I don’t want them choosing our candidates. I don’t want them buying our elections. I don’t want them swaying our policies. I do not want them in the Cabinet. I do not want them in the House. I do not want them with a mouse. I do not want their Instagram. I do not want them, Sam I Am. |
Anonymous
Bye. |
Anonymous
Both Communism and capitalism are materialistic systems. Both view people as mere economic units. They will grind people down to support the overclass. Look at the discussion of tariffs, posters are fine with grinding people down so long as it's not their family. Communism just got their faster. |
Anonymous
But you will still have them—they will just be Chinese and Saudi. |
Anonymous
And by law they will not be able to influence our elections or serve in our government, |
Anonymous
|
They will just leave the country and take their companies and billions with them.
Better to pressure them to put their money to good use for society. And that includes democrats like Oprah who get credit for being philanthropists when they are charitable with only a very small fraction of their wealth despite not even having kids to pass it to. |
Anonymous
They can absolutely influence elections, they already have and do. They don’t need to serve directly, they just buy themselves a puppet. Same as now. |
Anonymous
You’re advocating for noblesse oblige with no other change? That just gets us Bezos buying WaPo. |
Anonymous
Then why didn't they? Why destroy this one for sport? |
Anonymous
| Tech billionaires had their wealth increase 10-fold over the past 10-15 years. A big part of this was the Federal Reserve holding interest rates artificially low and pumping *trillions* of dollars into markets via QE, both of these unprecedented-in-scale actions leading to inflation of asset values, including stocks. Yay. |
Anonymous
Elon Musk, Peter Thiel, Jeff Bezos, all those private equity and hedge fund a-holes, all gone you say? Let’s do it! |