You have to leave incentives for people who are the ones who are going to create the jobs for all those people trying to climb the ladder.
Oh my god, FUCK OFF
this post was submitted on 10 Mar 2024
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b-b-but, nobody will want to do good work if they don't have the extremely weak opportunity to enrich themselves by taking advantage of other's labor!!!
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.
Revoke "Citizen United vs FEC" would be step 1
And when was this? Looks like 2014? What happened to that bill? Who voted against it? Was it reintroduced when Dems took control again?
He has done it every year since 2013. We all have to contact our congressperson every year about it.
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Well, it won't. At some point, personal capital stops being a number and starts to equal influence. These people can form the public opinion as they wish and anybody stepping on their toes more than they allow will find themselves on the pointy end of a career ending smearing campaign.
They (billionaires) should not exist, full stop. If they were actually taxed the way we used to in this country, we wouldn't have these security threats.
If the billionaires are upset it’s a good sign you’re doing something right.
Exactly. Most policies are in billionaire's favors, since they fund lobbying groups and super pacs. They mostly stay quiet about everything because they’re getting their way behind the scenes. If they’re complaining outright, it’s an absolute win for everyone else
Or, as is often the case with Biden, promising to do something right with the odds of actually going through with it being slim 🤷
Don’t break their bubble, it’s the only thing holding this thing together.
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Crying billionaires are a sign of society healing.
A healthy society has zero billionaires.
Let’s go further with these taxes.
Well they got rich taking advantage of the poor. That’s the only way you become a billionaire. I feel nothing towards them.
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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It's nuts for them to rail against this because when Biden said 25% minimum, I was like, "that's it‽"
I get taxed at 25% already and I'm making $125k.
25% is nowhere near enough. Anyone making over 400k individually should be taxed closer to 50%.
there should be a 100% tax for anyone who has a billion dollars or more.
That level of wealth is not compatible with existing in a society.
I think the biggest problem isn’t the tax rate, but the fact that the billionaire class can circumvent the tax system entirely.
Own billions of dollars in stock, don’t ever sell any, don’t pay any taxes on that growth. Maybe some dividends get taxed or something.
Need pocket money though. Take out a loan for $100 million using a little bit of your stock as collateral. You don’t get taxed on taking out debt.
People don't realize that billionaires don't have their billions sitting in a bank account somewhere like you or I might have our own life savings tucked away in a savings account. That would be foolish of them, obviously, the FDIC won't insure them past a certain point, so a bank failure could cause them to lose everything.
Every single billionaire is only a billionaire "on paper". It's the sum total of all their assets, both liquid and non-liquid (like stocks, but also properties, etc.). They leverage their assets as collateral for a loan, and then use that loan to buy the stuff they want or just use it to make more investments. They leverage debt in a way that we can't even begin to fathom.
It's mad, but I can see the conundrum. How do you tax assets that aren't worth anything until sold? Can you compel them to sell their assets to settle a tax bill? How do you go after rich folk who use loans to circumvent generating income through the sale of their assets without also harming regular people who need to take out loans to buy things like cars and houses?
Rich people have gotten too good at playing the system and we seriously need to look at how we can fix things before it's too late. Right now, the wealthy have unprecedented control over the government, but it's still not an oligarchy yet. There's still time, though. Someone out there has to have a solution.
How do you tax assets that aren’t worth anything until sold?
I have to pay property taxes on my home and car each year. These are assets that I'm not selling, yet I'm still being taxed on their value. It's amazing that they've figured out a way to do it for the working class but not for the ruling class.
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Agreed, but I guess you've got to start somewhere.
400k is rich in some areas but certainly not everywhere, that's way too sharp of a curve. Someone making 400k is already taxed at 35% federally plus whatever state and local so probably close to 50. The real issue is that after 500k the rates don't change where it should be increasing logarithmically. But really after a certain point there are way too many things that the rich do to reduce their tax burden that just aren't available to everyone else, that 100k or 400k person is in reality paying a much higher percentage than someone making a million a year much less billionaires.
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Wah wah wah just get into your fkn submarine, we double-checked the bulkhead for you 🫡
What there should be is an assests controled cap, no person should have control over more than 1 billion in assets.
😭🤌🎻🎶🎵
Biden claimed in his State of the Union address that the 25 percent minimum tax on the ultra-rich will raise $500 billion over 10 years. “Imagine what that could do for America,” he said.
Maybe I'm not good at comprehending numbers at this scale but does this seem kind of low to anyone else? I mean, that's a lot of money in absolute terms but the government spent $6.3 trillion in FY 2023 alone.
We should still do it obviously. Don't let perfect be the enemy of good and all that.
With no due respect to these whiny fucking billionaires, good and go fuck yourselves for being petulant children.
Billionaire tears taste like a fine Châteauneuf-du-Pape.
Don't like it? Fuck you. Your greed is unconscionable and your hoarding of wealth is amoral and disgusting. In conclusion, fuck you.
“My kids, who are 10, 12 and 14, you could tell them, ‘You know what, when you retire you’re gonna get money at 70, not 65.’” he said. “Do you think they’re gonna care?”
If it hurts you, it's the right thing. Cry some, leeches.
A few verses the masses. They can suck it up, pull themselves up by their bootstraps, etc.
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