373
That’s for simply owning the stock — regardless of how it performs.
Is that correct? This is dividends we're talking about.
this post was submitted on 28 Dec 2023
373 points (96.3% liked)
A Boring Dystopia
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If it keeps him doing nothing, it might actually be worth it...
He also fucking sucked at his job. Isn't that wonderful?
Go Steve! It’s your payday!
You gonna party like it's your payday
Apparently no one realizes this but if we want to stop this particular type of income we basically have to destroy how everyone's long term and retirement savings work. He's getting it from his share's dividend income.
So at what amount do we guillotine someone? When they have accrued 1 million and are safely withdrawing 90k a year from their stocks/dividends? Are they allowed to do nothing and get income?
See this is the problem here. We have these insane examples of wealth that should really have been fixed with a 100% tax rate over something reasonable. But since we didn't do that we have the other extremes, calling for tearing down other streams of income or demanding you should work the rest of your life for a wage vs investments. Neither of these positions offer much value here. Really we should be pushing for voters to turn out and create a reasonable tax rate. Take WA for example and how they created a 7% tax on over 250k annual for capital gains. Could that be more? Maybe. Could it be a sliding scale up? Sadly no due to the state constitution atm. As an engineer there I might be in a position that pays that, which I'm OK with, but no way I could buy a house here or live comfortably without working if there's no investment income allowed. And I don't really want to spend the rest of my life working for shitty tech companies.