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Wealth of Elon Musk Wealth of Jeff Bezos Wealth of Mark Zuckerberg Federal Minimum Wage Three words: tax the rich. 117 comments
 @Strandjunker not only that, there is a super urgent need for anti monopoly laws
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24 February at 21:36 | Open on outerheaven.club
@Strandjunker This is obscene. I think of the good that amount could do for humanity.  @Strandjunker taxing the rich wouldn't make them not rich, nor raise the minimum wage. What you want is politicians who will put in fair systems that increase minimum wage and workers rights  Well your talking about wealth not income here and comparing it against income, which is a shitty thing to do anyhow @Rjdlandscapes @PacificNic @Strandjunker isnβt the delta between wealth in year 1 and wealth in year 13 equivalent to 12 years of income? @dashrb @Rjdlandscapes @Strandjunker Income over the period plus net change in assets minus expenditures. For the ultra rich, essentially, yes. @dashrb @PacificNic @Strandjunker They all own about the same (or less) slice of the companies they started. yes this gives them a fair chunk of financial power but its not income its wealth , I'm fine with a wealth tax but I am not fine when your comparing the two @PacificNic @Rjdlandscapes @Strandjunker think there should be both a progressive income tax and a wealth tax. And an inflation adjusted minimum wage. The pendulum swings, and right now itβs way too far to one side. I hope it swings back before society collapses from the inequality.  @Rjdlandscapes @dashrb @PacificNic @Strandjunker Why not? If the income of their employees reflected the increase of value they produce, those people wouldn't be able to gain such obscene wealth.  @Rjdlandscapes @dashrb @PacificNic @Strandjunker @Rjdlandscapes @Strandjunker so in fact you want the system which is in civilized countries like Poland Β―\_(γ)_/Β―  Remember when winning $100 million on a lottery was considered to be riches beyond belief? Yet too many people don't realise that these leeches have 2,000 times that. My dad was shocked when I told him, he thought a billion was ten million. At least he never voted Conservative again.(UK) @Strandjunker And limit wealth accumulation. I'd say US$500,000,000 total assets. After that, 95% tax rate. I would make one exception: the actual individual inventors, artists, entertainers (incl sports) could accumulate more if people liked their stuff that much. But not something anyone could buy the rights to. And not transferable by inheritance or otherwise. The accumulation of money and power are the biggest toxins. @quixote @Strandjunker  @janeadams @quixote @Strandjunker 100% inheritance tax is the logical consequence of taking libertarian arguments about the "meritocracy" seriously. Alas most people don't mean it and get flustered when you take them at their word.  @ln @quixote @Strandjunker The unfortunate reality is that it would likely just result in more tax evasion loopholes (life insurance anyone?) It sure is a fun exercise though, along with telling conservative libertarians that the most libertarian thing to do would be to eliminate state and national borders entirely, thereby avoiding the immigration problem entirely ("no one can be an illegal immigrant if immigration isn't illegal") @janeadams @ln @Strandjunker Tax evasion and its loopholes can be plugged or even prevented if the will is there among the powers that be. Mostly, though, the unfortunate reality is they're trying to do just enough to sound good to the have-nots while not really bothering the donor class too much. Not too surprising that never works. @Strandjunker come on! Aren't we far beyond that? They are too much a threat to the health and prosperity to any society. They are a parasite that consumes the host, takes hold of it's government, it's media and it's legal system. With the scope and speed of information it's inexcusable for us to deny the danger to any chance of democracy they represent. Put them all in a rocket ship and banish them from society.  My three words to anyone who's listening': Figure out how. These bastards have better accountants than the nation has regulators. They have reduced all our politicians to prostitutes with their PAC contributions - and if you dare to impose a wealth tax - they will move their money to tax havens faster than you can read this sentence. Figure out how. @tuban_muzuru @Strandjunker Let them go, headquarters and all. Is it that hard? If theyβre really that in control of the US Government, then nothing we say or do matters already. There's plenty we could do, if our regulators weren't in and out the Revolving Door of tax avoidance/regulation. Anyway, I've already covered that with tax havens, mostly. Lots of good ideas are out there: fewer tax brackets, chop down the forest of corporate tax breaks, but to your idea, they'd just move their incorporations elsewhere and business continues semper eadem. -- I'm telling you, these are smart people. @Strandjunker I always forget if the phrase should be "tax the rich", or if it's supposed to be "eat the rich"! To clarify, I'm #NotAcannibal but I think the metaphorical "eat" has a bit more punch to it.. with the hopes that the rich might actually fear it enough to - I don't know - give them pause to what they normally do? Regardless, whether my wording is more poetic or not, you are 100% correct with your statement!!!!! π @bwana @Strandjunker Ah, ha, yes, composting the rich feels like we get more out of them - I like this approach too! π @Strandjunker For European citizens, there is an initiative to have the European Commission at least debate a wealth tax. https://citizens-initiative.europa.eu/initiatives/details/2023/000006_en @Strandjunker SERIOUSLY I'd love an explanation how billionaires aren't the biggest threat to democracy, craven in their lust for power and control. Not exactly a new idea or problem. I'd suggest anybody look into the gilded age, to see how BOTH parties are just wealthy syndicates fighting for power and just crushing us in the middle. It will never end till people have the good sense to nip it in the bud. crush them first before it propagates. @Strandjunker @Strandjunker @lisamelton And also, lobby your local city/county government to set their own minimum wage. You can often have a bigger impact locally. Here in San Francisco itβs around $18. @Strandjunker if let's say US government tax them the "benefits" will go immediately to fund another imperialist war. The point is working class to "tax them" till the end...  @Strandjunker Judging from those numbers, Federal Minimum Wage should be $725. Hell, I'd be a Wally World greeter for that.  @Strandjunker   @stux @Strandjunker That would be my first wish of a Djin. @stux @Strandjunker Honestly, it's just plain gross. One person can exploit so many people who obviously deserve bigger cuts of the profits.   @Strandjunker A favour a different approach. Pay people properly!!! Then the tax issue is moot. The tax route just means rich people taking a cut again until it filters down to help us folks down here. Once theyβve extracted that wealth at the expense of our labour itβs already too late.  @Strandjunker This is the US national debt: We would need ALL of the money owned by 168 Elon Musks to pay it off.  @Strandjunker no, hit the rich with small hammers just above their left eyesocket. I am serious. So available, so affordable, so useful in other ways!  @Strandjunker Heck, βUS Median Income:β The highest 2 went up 10x, the average American went up 1.45x Note that is household income, average single-person salary was $59,384 in Q4 of last year.  THOSE are the kind of people who have no problem with people in the USA dieing in the streets as long as they keep making money sending shit overseas.   @Strandjunker A good start would be to kill the Citizens United decision that opened up politics to unlimited and untraceable $. This gave corporations and the rich the opportunity to own people in government. For now: #VoteBlue  @Strandjunker That isβ¦obscene. If I had access to that many funds, I would seriously consider using it to secretly research weapons of mass destruction so I could declare independence and start making demands of the United Nations. Corporations have lots of money and influence, sure, but not as much as nation-states backed by credible threats of mutually assured destruction. You spelt incarcerate incorrectly.  @Strandjunker Really disgusting that one needs that much money.Must be a giant hole that needs to be filled. @Strandjunker π― - the rich need to pay their share. The income gap has become way too big and a functioning democracy needs more equity.  @Strandjunker and restrict pay gaps to a 1:7 ratio. There is no need or good in owning so much wealth concentrated into so few private corporate individuals. Nobody is entitled to such obscene amounts of money.  @Strandjunker Boosted with the remark that taxing takes too long. They need to be expropriated right now! And their money and possessions distributed among the poor and middle-class. One question remains, who's going to do this revolutionary act.  @Strandjunker In other words, you shouldn't buy ETFs but invest in your low income neighbor? @Strandjunker net worth and income are not related, the change in someoneβs net worth is not equivalent to their income This is not a dismissal of what youβre getting at, but this is just disingenuous whether you meant it or not @Strandjunker How shitty is it to have all of that money and just use it to buy yachts and build doomsday bunkers? @Strandjunker @Strandjunker  @Strandjunker We need many more tax brackets to cover incomes over $1 million per year. Tax rates rise with income for everyone with less than $600k, but there is a flat tax for all income over $600k. Someone who earns $10 million in a year should pay a higher rate than someone who earns only $1 million. Etc.  @Strandjunker That's just wealth on papier as shares. This wealth ist also used to drive additional projects that feed many employers. With sone good ideas, hard work and some luck this is the way for everybody. Why this envy debate?  > Thatβs just wealth on papier as shares. So are bank notes, and yet it is just as real as any other form of wealth. You say this like this money is less real than someone else. @freemo @Strandjunker There is a difference between shares and bank notes. The notes are immediately and always ready to be spent, shares are not and often shareholders are allowed to sell them. So, that's just "money" for the gallery which also can loose much value within a short period of time. @freemo @CarKettner Thats completely false, neither stock, nor economies as a whole, are a zero sum game. Nor is it true that you can only make wealth off of stocks by taking wealth from others. Yup.. people seem to care more about having opinions (bad ones) as to how to solve problem than they care to actually understand problems. I dont mind people being wrong, but the level of confidence with which people are wrong without exploring the topic in an educated way that bothers me the most. @Strandjunker Why all the hate for the rich? If people didn't like what they produced, they would not be rich. They pay a large portion of the collected taxes. Getting rich is the American dream, but once you get there those that aren't there yet, or have no chance to do so start hating on you. To be clear, I am not rich, I worked minimum wage once, but have now reached a decent wage, and don't hate the rich, or poor. @Strandjunker |
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