"You're trying to take away the incentives for people to work hard," [Catsimatidis] said.
The working class is referred to as such for a reason.
He should stop pretending to be one of them.
this post was submitted on 10 Mar 2024
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(3 replies)
If the billionaires are upset it’s a good sign you’re doing something right.
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(4 replies)
I don't really understand why they're upset, or how it will raise that much revenue. As the article points out, most billionaires don't get their billions from income, they get it from investments. For instance, Jeff Bezos' salary is like $80k, and then he gets other compensation that puts him at like $1.7M. if you put him in a much higher tax bracket, he shouldn't even care - would hardly notice - because he's worth $194B. To put that in perspective, if he earns just 5% a year in growth on that, it's almost $10B. His compensation is like 0.02% of what he's likely to make on investments, if that.
It's also worth mentioning that most billionaires can't really spend much of the billions. If Bezos tried to cash out much of his Amazon stock, the price would plummet and he'd be worth a lot less. What those guys do is take out loans with the stock as collateral and live off of that. Of course, Bezos himself is at a level of wealth where he can cash out a small percentage and it's still enormous. I think last year he cashed out like $2B worth, which is a giant amount of money, but only 1% of his net worth.
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(5 replies)
Billionaires: You want to prey upon the rest of us unilaterally? That fine. Just stay on your little island, announce it as a sovereign nation, pay to defend it, and good luck! That's what happens when you contribute nothing to society yourself...
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(2 replies)
Don't like it? Fuck you. Your greed is unconscionable and your hoarding of wealth is amoral and disgusting. In conclusion, fuck you.
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(1 replies)
Billionaires: you should tax us more
Also billionaires: nooooo.... Not more taxes!
Maybe not the same billionaires?
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(1 replies)
Thoughts and prayers
Boohoo