It's the first step in a wealth tax. In the future a government "wealth assessor" will inventory everything you own or invest in, make an arbitrary determination of how much its "worth", and then set your taxes. Like property tax but a million times more complex and arbitrary.
this post was submitted on 10 Mar 2024
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What there should be is an assests controled cap, no person should have control over more than 1 billion in assets.
Can someone please inform me what is going on ?
Billionaire tears taste like a fine Châteauneuf-du-Pape.
Apparently it's not just Billionaires who hate this, but also Russian trolls pretending to be leftists. Who would have guessed the two would be allied?!
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Billionaires can suck my dick and fuck right off into the sun. This shit has GOT to fucking stop! 100% tax on anything over $200M, and I am being real generous with that.
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For any who things the US ha a progressive tax system. It is ever so carefully regressive.
Let them eat cake!
Let them eat shit!
Music to my ears? Oh wait, he could lose the billionaire vote. Like all 100 of them.
Problem isn't the billionaire vote, but rather the billionaire dark money being funneled to the other guy instead. Which I'm sure they're all doing anyway, but they could decide to do it more. Which makes it ever more important for grassroots efforts to get the vote out so that we can eat the rich in spite of their efforts to dodge our hungry maws.
In my dreams, we have a flat tax of 30% over all income beyond 40k per year.
And wouldn’t it be neat if, on the tax return form, there was question:
Where would you like your tax dollars to go: • education • military • foreign aid • welfare programs • don’t care, equally distributed
Flat tax is nice in theory, but it's horribly regressive. 30% would be a nice reduction in taxes for anyone making $230k + or so, while a dramatic increase for anyone under 90k
To some degree taxes need to be tied to cost of living. Someone making $70k in rural Texas vs NYC is going to have a very different cost of living and quality of life.
This only would help if they would actually pay taxes at all.
The trick is what to tax when the ultra wealthy base most of their worth on stock.
Yah I don't remember the exact steps, but it involves getting loans with the stocks as collateral to avoid showing an income
30? Lol, nah man, 50 when it gets to more than 1mil a year.
How about 100% tax on all income, but everything is free in reasonable amounts. 😉
Isn't communism the devil or some dumb shit like that? We gotta protect our corporate overlords man, we wouldn't want to live in a dictatorship where a very rich few control the world! /s
Good, fuck em
Crying billionaires are a sign of society healing.
A healthy society has zero billionaires.
Let’s go further with these taxes.
Biden was cooking with this one. It should be even higher that wealth is stolen.