Financial obesity is an existential threat to any society that tolerates it, and needs to cease being celebrated, rewarded, and positioned as an aspirational goal.
Corporations are the only ‘persons’ which should be subjected to capital punishment, but trillionaires should be forced to transition into billionaires, and billionaires should be euthanised through taxation.
Why don’t they just fuck off? You won capitalism. You have get away with murder money. Just go and fuck off already, why do you have to make the rest of us miserable?
Because they want more. Why? They’re mentally ill.
5% is dirt cheap compared to the taxes they’ve avoided for many DECADES.
5% is less than the passive income that amount of wealth makes that year!
Cheaper than what they deserve.
I don’t want a one-time, 5% wealth tax. I want a recurring wealth tax. At 0.5%, such a tax outpaces the one time 5% in ten years.
I would settle for one time 5%… but it’s just so short-sighted. 5% in one sudden movement is actually a big ask… and are we actually going to be able to pull that off more than once?
A recurring wealth tax 1) is better in the long-term, 2) is less disruptive to the stock market (which we should care about, as long as this is the sustem we have) 3) makes for a more predictable economic environment, so people with money might actually still want to live in CA.
I promote taxing total compensation (the stock options) and putting in minimum limits on taxes for to wealthy. I have also heard people discussing ideas for having the top billionaires have forced sales of a percentage of their stock and putting possession taxes in place for land hoarding.
What’s crazy is that he’s only spending less than 1% of what the tax would cost him.
If he spent $10b and managed to save himself a $13b tax bill, he’d still save $3b.
I suspect he’s actually spending much more than $100m. He has probably hired expensive attorneys, expensive accountants, expensive PR firms, etc. We have to hope he hasn’t hired private detectives, hackers, hit men, etc.
Shit like this makes me think the Billionaires are afraid of wealth tax because much of their wealth isn’t real. They can materialize 0.05% to fight legislation, but if they tried to liquidate a significant portion of their stocks or whatever that’d decrease the value of the rest of their fortune, not to mention somebody needs to buy what they sold.
They need other people to think what they own is valuable; and they do that by owning it, as rich people are reputable in many people’s eyes. If they sell the feedback cycle inverts
I’m sure that’s part of it. Selling enough stock to meet a 5% wealth tax would sometimes mean that selling those stocks would really drop the value of those shares, and therefore drop their on-paper wealth.
But, the simpler explanation is they don’t wanna.
END BILLIONAIRES WITH GUILOTENES
or however you spell it
Millionaires and other parasites are so disgusting. He doesn’t care about losing the money, he just doesn’t want to be told what to do with it (told to give some of it back to the country).
Billionaires should be illegal. Tax the fuck outta these assholes.
He’d like this better than my simplified alternate tax rate of 1 head.
Great choice of pic. Google Glasshole.
