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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Seems like the country needs to take a page from the Gilded Age when we had similar income inequality and a small group of obscenely wealthy billionaires.

That's when antitrust and other legislation was passed, and it culminated with the US passing an income tax for the first time in 1913.

It seems obvious to implement a wealth tax on all wealth over...take your pick...$1BN, $10BN...something.

I mean, even mere hundred millionaires will support it (as long as they don't think it will go to down to that level).  Literally, 99.8% of the population will support it.

At the very list, implement a minimum tax obligation for anyone with a net worth over whatever may be the limit.  That you can't claim almost zero income because you own $100BN of stock, receive a $1 salary and you borrow against your stock to fund your daily life (which costs only in the hundred million range annually...at most).[/quote]

Need an estate tax for anything over $10M. Generational wealth is turning the latest batches of trust fund nepo babies into worthless humans. If kids from an extremely wealthy upbringing with the best nutrition and education can't earn a high paying job in 40 adult years then too bad.[/quote]

That's funny. Bill Gates generational wealth? Bill Gates started Microsoft like anyone else as middle class. He didn't inherit.  Elon Musk came to the U.S. with $2,000 to his name.

Jobs and Wozniak started Apple in their garage. They weren't rich.

What the hell are you going on about?

[/quote]

10% of US high schools students attend private school. Bill Gates attended the Lakeside School, a private college-preparatory school in Seattle, Washington.

He was wealthy. Not master of the universe, but have capital from bank of dad and can take a lot more risks than most people. [/quote]

Bill Gates [u]WAS NOT[/u] wealthy.  :roll: [/quote]

Bill Gates Sr. (1925–2020) was the father of Bill Gates. He was an attorney, philanthropist, and civic leader. He founded the law firm Shidler McBroom & Gates (a predecessor of K&L Gates), and also served as president of both the Seattle King County and Washington State Bar associations

I think your perception of wealthy is skewed by adoration of tech oligarchs. A prominent attorney who focused on corporate and tech issues and sends his kids to elite private schools (with one of the countries first computer access terminals), is definitely wealthy. [/quote]

Yes. And it's not just the personal money. It's the ability to leverage that wealth with networks from financial institutions to VC. It's easier to risk a bunch of money that's not yours. And startup bankruptcy is seen as a lesson learned until the next opportunity. [/quote]

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