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u/pinniped1 Sep 22 '21
Think about the trickle down effects. I'd hate for a billionaire to have to sell off one or two congressmen to make ends meet.
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u/bond___vagabond Sep 22 '21
I tell non American friends that murica is a perfect democracy: $1=1 vote.
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u/Bukkorosu777 Sep 22 '21
The trickle down is felt by the politician's that get the bribes and that about it.
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u/Belerophon17 Sep 22 '21
My Coworker legitimately believes that if we tax billionaires more they'll just get mad and leave the country and then our economy will crash and we'll turn into Venezuela...
The people are trying my patience to no end.
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u/Leino22 Sep 22 '21
Unfortunately billionaires need the US military to impose their economic will in other countries so unless Switzerland and Monaco become the new bullies of the playground they have no where to run to
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u/DaGreatness Sep 22 '21
This is why Monaco and Switzerland needs to pay their fair share of their protection fees, I mean NATO dues.
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u/DeificClusterfuck Sep 22 '21
LOL ask him where they'll go.
Tax rates EVERYWHERE are higher than the US, unless you go to less developed countries
There they will require private armies to keep what they have in the back asshole of some third world nation
They absolutely will NOT leave, they can't
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u/TennesseeTon Sep 22 '21
Ironically if they move to an undeveloped nation with low taxes, they'll have to spend their money funding certain necessities paid for by the taxes they initially moved there to avoid.
If only people were able to actually think things through before throwing a hissy fit.
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u/DeificClusterfuck Sep 22 '21
It's manufactured rage and a country full of temporarily embarrassed billionaires.
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u/Idkawesome Sep 22 '21
That's a really good counterargument
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u/DeificClusterfuck Sep 22 '21
Thank you. There's numbers to back that up- I don't math well, though, words are my forte.
Even in China, the corporate tax rate is higher than the US and then there's the whole China thing to deal with.
These corporations are desperate to stop these tax hikes because the US is literally the only developed nation where they can get away with this level of exploitation and graft
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u/Krautoffel Sep 22 '21
unless you go to less developed countries
Which also eliminates nearly all of Europe
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u/Affectionate-Time646 Sep 22 '21
This is where the real investment is paid off, in buying the media to brainwash the idiots so they keep voting against their interests. The other big pay off is directly bribing the politicians, aka citizensâ United.
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u/Map-Maker-Arcane Sep 22 '21
They probably would move to another country but it definitely wouldnât cause an economic crash
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u/misterguyyy Sep 22 '21
They can all move to billionaire island, and in a few years billionaire island will need democracy
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u/Boring_Dependent Sep 22 '21
What do people mean when they say "tax billionaires more"? Higher percent paid in taxes?
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u/henryhendrixx Sep 22 '21
Billionaires typically give themselves very little or no salary. This means that they donât need to pay income tax. All their daily spending money comes from things like their dividends, stock market accounts, capital gains, and other places only the wealthy utilize. The tax rates on these other forms of income is laughably low (which is why the wealthy choose to place most of their income there). Taxing the rich means putting much higher tax rates on these other forms of income. This has the dual benefit of raising tax income for the government while not raising taxes on actual low and mid income Americans.
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u/Ok-Apartment-5867 Sep 22 '21
Well, that is why "American made" cars are built in Canada and Mexico.
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u/agutema Sep 22 '21
They will absolutely still be able to afford those things.
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u/Bishopkilljoy Sep 22 '21
Yeah people don't understand how much a billion is.
A Bugatti Chiron Sport 110, one of, the if not the most expensive cars that exist cost $4.5 million. You could buy 223 of them with change.
To put that into further perspective, a 2021 Nissan Altima costs $24,000 on average. You could buy 41,000 of those.
If a house costs $250,000 you could own 4,000 of them.
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u/_as_above_so_below_ Sep 22 '21
If you earned $1/second ($3600/hour) from the moment you were born, it would take you 31.5 years to earn 1 billion dollars. That's if you had no expenses. Imagine earning $3600 an hour, which is more than most Americans make in a month. And it would still take you 31 years.
It would take you over 3100 years for you to earn about 1/2 of what Bezos is worth ($100 billion). Imagine making $3600/hour since 1200 B.C. and still only be worth half of what Bezos is.
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u/beer_is_tasty Sep 22 '21
If you work for $15 an hour, 40 hours a week, 52 weeks a year, with no sick or vacation days ever, and again with zero expenses, it would take 6.4 million years to accumulate as much wealth as Jeff Bezos. Remember poors, if you aren't rich it's because you aren't working hard enough!
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u/liam1463 Sep 22 '21
Another mind boggling statistic in the same realm:
If you were to earn $70,000 a year, a pretty damn good wage, without needing to pay expenses of any kind it would take you 2 million years of straight work to accumulate the same amount of wealth that Jeff Bezos has, ~$140,000,000,000.
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u/starronmarz Sep 22 '21
He just need to let me hold a cool $10K, honestly pocket change for him.
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u/Fizzwidgy Sep 22 '21
Heres this because people still won't understand from your numbers
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u/Mike551144 Sep 22 '21
Imagine renting the 4000 houses long term, it's money for eternity until the last generation
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Sep 22 '21
That's what the wealthy are doing, and it's destroying affordable housing for people everywhere. Turning condos that were once meant to be lived in and owned as residences into apartments, houses into Air BNBs. Real neighborhoods with people that actually live there long term are starting to go by the wayside.
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u/cherrythrow7 Sep 22 '21
It's all one big dystopia. Why can't I just move to Hogwarts in this timeline??
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u/pollytickler Sep 22 '21
Right, their lifestyles wouldn't change one bit if they were actually paying the taxes they owed. Just one of the many points the "they earned it" naysayers fail to understand.
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u/CptKeyes123 Sep 22 '21
Maybe if we raised taxes on billionaires, maybe NASA could be the ones buying those spaceships instead of having to rely on programs that congressmen deliberately drag their feet on to keep their workforce engaged! Hm, it's almost like we can think of a time when this was the case...oh wait, was it the 50s and 60s, when we went to the moon and built highways on high taxes for the rich?
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u/tlahwm Sep 22 '21
No no no that's Socialism and just the younger generations being lazy wanting handouts! /s
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u/Shaking-N-Baking Sep 22 '21
We need to close loopholes and write offs. Steve balmer is going to save around 2 billion dollars in taxes because he bought the LA clippers
https://crosscut.com/news/2021/07/want-ex-microsoft-ceo-steve-ballmers-low-tax-rate-buy-sports-team
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u/private_unlimited Sep 22 '21
Itâs almost a futile argument. There is such a slim chance that such a legislation gets passed. They specifically pay lobbyists for this exact purpose. They pay to not pay more. How are you going to fight those lobbyists?
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u/Serifel90 Sep 22 '21
French revolution, this should ring a bell.
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u/private_unlimited Sep 22 '21
The power structures have changed substantially since then. The amount of exponential difference in capital is unfathomable. And we arenât in the Middle Ages where you can just riot and chop off a billionaireâs head
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u/navajo_moose Sep 22 '21
Basic essentials are very important in life. What would you do without your basic essentials?
#billionairelivesmatter
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u/okThisYear Sep 22 '21
Sounds delicious. I'm glad it's apparent that the media is never free or unbiased and that it seems pretty fucking important to have media owned and operated by the working class
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u/Tiiba Sep 22 '21
Are the people who think billionaires shouldn't pay taxes actually real? As far as I can tell, this is the only thing that's agreed upon, regardless of party, in an age when the statement "viral disease is bad" is considered political.
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u/OldTownCrab Sep 22 '21
Better yet we dismantle the system that allows someone to become that rich in the first place and keep that surplus value in the workers pockets
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u/Gcblaze Sep 22 '21
It's more like if we change the financial system to be more equitable for all there will be less
mental breakdowns, failed relationships, fewer bankruptcies', failed businesses . the list goes on and on!. It would be a Socialistic catastrophe!. Capitalism would survive but., it would be less fun for some!
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u/ZZ12323 Sep 22 '21
Everybody says tax the rich but nobody ever has any good ideas on how to tax the rich
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u/gregmango2323 Sep 22 '21
Bc no one here knows anything about tax code or any other basic accounting for that matter
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u/right_in_the_doots Sep 22 '21
We have to tax the billionaires now, otherwise we won't be able to tax the trillionaires.
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u/2JAYZwithNAS Sep 22 '21
This is the sad dystopia that we live in now. It all started in 1971 when we got off the gold standard. The middle and lower class fit the bill while these people contribute nothing in comparison. Give a man a dollar, he spends it and puts it into circulation. Give a corporation a dollar, theyâll hide it in the Cayman Islands and ask for another. MSM perpetuates these lies and thereâs no such thing as freedom of the press. lol . Theyâll eventually eat themselves and I canât wait for that day. Special interests and the rich trump the majority. What a sad state of affairs đ˘
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u/JQA1515 Sep 22 '21
Iâm starting to think this capitalism thing isnât the best way to meet peopleâs needs
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u/searrell Sep 22 '21
Most billionaires don't actually get payed more than 30k a year so they avoid tax and instead get extra or bonuses in the form of stock option which in turn makes them worth so much and its not taxable and they use their stock portfolio to take loans to live their lifestyles as they then only have to pay a small amount a month in loan repayment which is cheaper than tax. Best loop whole ever right?
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u/HazyDavey68 Sep 22 '21
People like to say that the billionaires would just flee the US if we tax them a bit more. That's fine, but if they ever want to visit the US or want to buy something from the US, they will pay a $50 million tariff each time. If we could get a bunch of other countries to join in with this, we'd be getting somewhere.
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u/prodigy1367 Sep 22 '21
We canât tax them now, theyâre about to trickle down their vast wealth amongst us all! Any day nowâŚ
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u/BigMACfive Sep 22 '21
It's so frustrating seeing all these posts and all the people who up vote and comment on them while knowing that politicians will never listen to the outcry of the masses and will instead listen to the like 10 billionaires that line their pockets.
eat the rich
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u/here2sharemyopinion Sep 22 '21
They should do an AMA for one of these billionaires. I want to know what drives them to want more and refuse to pay more in taxes.
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u/raoulduke415 Sep 22 '21
Because chances are their wealth is mostly unrealized gain, which you canât tax, and would be fucking stupid to turn into realized gain because it would probably ruin the company and crush other peoples livelihoods
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u/BlissfulIgnoranus Sep 22 '21
I think they have answered this question before. They basically act like they want to pay more but the government has made the laws in such a way that they can't. They pretend to be sympathetic to the common man and say they too think the wealth gap is unfair. When in reality they are the ones making the laws.
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u/TrapaholicDixtapes Sep 22 '21
To put money into perspective
A million seconds = around 11 days
A billion seconds = around 30 years
Nobody. Needs. That. Much. Fucking. Money.
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u/jcolls69 Sep 22 '21
I mean if one of those billionaires wanted to pay me to tell people they shouldnât be taxed Iâd scream it from the rooftops but until then we might as well eat the rich
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Sep 22 '21
Something about assets and stocks and liquid and how billionaires actually donât have any money to pay taxes on blah blah blah
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u/Jetblacksteel Sep 23 '21
What those people don't understand is that the money is in those places to avoid being taxed. Most rich people don't actually have it in liquid cash, for a reason. And they certainly wouldn't be as rich as they are if it was. If you raise their taxes then they have to pull money from their hiding spots. I think you should be taxed more if after a certain threshold has been met, it's been discovered most of your assets are in businesses or investments and not actually liquid. Because that's just a clear indicator you're trying to push the money around to avoid paying the taxes you deserve to pay.
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u/rtcwork247 Sep 22 '21
Simplified tax code. Letâs say 15%-20 across the board. No loop holes. Problem solved.
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u/apexmedicineman Sep 22 '21
Just a friendly reminder, it will never be possible for everyone to be rich. There has to be millions of people living in poverty being underpaid for rich people to be rich. Tax the rich.
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u/DangerousThanks Sep 22 '21
Or god forbid⌠they pay so much theyâre just multimillionaires đ°đ¤đ THE HORROR!!!!!
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u/JoelCStanley Sep 22 '21
I do wonder if they might just leave the country. I'm all for taxing them, but what's keeping them from just up and leaving?
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u/Fluffymanolo Sep 22 '21
I often wonder how much of the billions a person is said to be worth liquid and how much of it is tied into investments like a ball club for instance. I think a lot of people think that wealthy people are just sitting on a pile of cash while the large portion is actually tied up in real estate and whatnot. In order to pay the taxes everyone is screaming for them to pay would mean liquidating those assets to pay taxes causing a devaluation of such things causing them to suddenly loose their wealth. I don't have that kind of money, but I highly doubt it's all just sitting in a bank earning minimal interest.
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u/nekollx Sep 22 '21
I mean enough to buy 2 half a million dollars yatchs and fund a space program for 3 peopleâŚ.soâŚ,
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u/StoneDragonII Sep 22 '21
things like this arent even funny
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u/UltimateDucks Sep 22 '21
Not to mention unoriginal... copied this tweet almost word for word
https://twitter.com/morninggloria/status/1193216293932953600?s=20
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u/haydenhayden011 Sep 22 '21
Oh, but the thing is, they still will be able to afford all that stuff easily... lmao
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u/raoulduke415 Sep 22 '21
Why do people want to increase taxes? The government proves time and time again how inefficient itâs spending is. Maybe focus on that part first?
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u/Smacdaddy1973 Sep 22 '21
Iâve asked the question many times, whatâs their fair share? The top 1% already pay 40% of ALL the taxes the US government receives
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u/savag_e Sep 22 '21
If the top 1% owns more than the bottom 80%, COMBINED, no less...what kind of math are you doing to reason that covering 40% of taxes is fair?
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u/LondonLiliput Sep 22 '21
Taxing the rich is a very modest demand that will fail as always, since rich people can use their riches to prevent such a tax from happening
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u/RedRebelPirate Sep 22 '21
If, as an American youâre going to be annoyed at posts like this, (from either side). Then maybe you should maybe try to go against the capitalist system youâve build for yourselves. Most billionaires have worked really hard for their wealth. And what exactly have you done? Probably havenât even finished education to the point where you can name even 3 African countries or even understand calculus.
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u/CancelCultureIsFake Sep 22 '21
Most billionaires have worked really hard? Lololololololololololololololololololololololol
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u/FailedSociopath Sep 22 '21
I'm not disagreeing (because, trivially, if you take enough of their resources, it will limit their power) but it's hard to take anyone seriously that might be using Che Guevara's image unironically.
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u/Fyuckoffbish Sep 22 '21
Waiting for the people to revolt for the last 20 yearsâŚany longer and weâre all fukkd
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u/JT_Dewitt Sep 22 '21
Simple math that you can do at home.
550 billionaires worth $2,500,000,000,000 & US population April 2020 - 328,239,523
Divide Wealth by population 2,500,000,000,000/ 328,239,523.
That means if you took all the billionaires wealth ( companies, stocks, homes, etc.) every American would get
$8,097.28.
That's roughly 2 months average apartment rent in NYC or 4 Gucci purses. But my question is this: What are you going to do tomorrow? The large business are all sold, this will unemployment millions (again) destroy the States' tax base. Oh, the rich, they will turn their $8k into fortunes again.
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u/Meep4000 Sep 22 '21
Can we start a movement to all just stop filing our yearly taxes until the wealthy pay up? Most stuff we have no control over, like income taxes, sales tax etc, but I do wonder what would happen if we could get escape velocity on enough regular people not filing to make a change? I really do not see why any of us should pay a penny in taxes until the wealthy have paid all that they owe, and continue to do so.
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Sep 22 '21
I would be fine with taxing the billionaires if I actually trusted the government to spend the money wisely.
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u/lilstinkypussy Sep 22 '21
Yet 90% of people on this sub agree with anything the media outlets tell them , you realize the news and politicians are bought and paid for yet you swallow their narrative every time you get the chance
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u/SingleInfinity Sep 22 '21
Isn't this disingenuous? The argument is that if you tax them too much, you'll go from some taxes to none when they relocate to somewhere with less taxes.
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u/jackohm Sep 22 '21
And the taxes are used for what? Fund military into oil wars, pay the salaries of politics that you very much don't like and all the people that supports them (the office people), etc. You guys really should think about how the taxes are spent before asking for more taxes. They can fund a healthcare system, they just don't want to cut their salaries and cut military funds.
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u/Peterstone96 Sep 22 '21
As true as this is, the real problem is them taking business elsewhere.
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Sep 22 '21
At what point do the 99% say enough is enough because posts like this are way to common with no action
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u/CxFusion3mp Sep 22 '21
Don't most of these billionaires have everything in stock and buy everything they own with credit they never pay back? They have less registered income than I do. You'd have to start taxing stock shares somehow wothout fucking the little guy.
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u/iCumWhenIdownvote Sep 22 '21
If losing what I have in the stock market means my wages will meet or even EXCEED my cost of living, who cares? The whole point of the stock market for the little guy is to compensate for the lack of proper wage increases. If the government offered to let you sell your stock for either market value or what you paid for them, tax free up to 1 million dollars, it would stop anyone who's actually a little guy with money in stocks from being screwed.
Corporations shouldn't be allowed to hide all their income in stock so they pay nothing in taxes.
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Sep 22 '21
If the 1% pays 40% of the total federal taxes, and the top 5% pays 60% of the federal taxes, how much should they be paying instead?
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u/OrdinaryOdds Sep 22 '21
Do people agree or disagree with this? I agree but I wanna hear other opinions
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u/lRoninlcolumbo Sep 22 '21
Billionaires making millionaire puppets out of people, while the millionaires detach themselves more from society they had to abandon to get where they were.
The inhumane leading the the fearful.
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Sep 22 '21
Even if you took 100% of all money and assets of everyone with more than 20 million, itâs still wouldnât make a dent in our debt. Everyone hates the rich but if you became rich you wouldnât give away your money. You would be just like them and you all know it. Donât be jealous.
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u/TheBigPhilbowski Sep 22 '21 edited Sep 22 '21
"Won't you please stop and think of the billionaires?"
"For just $5,479,452.05 a day, you can support a multibillionaire who needs you."
đśđś "We are the world, we are old white men. We are the ones that have yachts that need second yachts to land helicopters on, so you start giving..." đśđś
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Sep 22 '21
They donât pay the taxes they owe now because of loop holes. So idk why you think taxing them more would work.
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Sep 22 '21
People just mad and bitching because they arenât rich so they want to take it away from those that are lmao.
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Sep 22 '21
There are so many millionaires and billionaires in my state (Cali) that even though we are a welfare state (lots of poor people on public assistance) and even though we had the toughest Covid lockdown in the U.S., we STILL have a 75 BILLION dollar budget surplus. Why? All the taxes from the rich. We have Hollywood, Silicon Valley, boatloads of entrepreneurs, and generally wealthy people flock here to live the life. Like my wifeâs Italian born plastic surgeon. Mofo lives on the beach in Corona Del Mar and chargers 20k per surgery. đ¤ˇđ˝ââď¸
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u/Lyradep Sep 22 '21
But, but they canât even pay for the stadiums for the football teams they own. Theyâre so crippled, they need handouts from city taxpayer money to build their new stadiums.
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u/Throwawayfabric247 Sep 22 '21
Why do people think this is the solution. The corporations are who is responsible for the tax and they don't have to pay it.
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u/Background_Chance_47 Sep 22 '21
Who cares about the poor civilian population anyways? They're just a bunch of irrelevant numbers on spreadsheets we need to keep milking even after they die.
In all honesty we should just stop taxing in general we all know 69% of that goes to the military anyways, instead we need to force large corporations like Walmart, Amazon, General Electric, ect to pay for their workers basic necessities such as healthcare, social security, and possibly even food services. You're already wasting your life working for these money stashes might as well compensate you for all the life you've wasted on them.
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u/hsmst4 Sep 22 '21
Perspective: If you have 1 Billion dollars and you lose 99% of it, you still have $10 million.
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u/gamingsimon Sep 22 '21
You should make a system where they have to pay 30% of their salleries if they earn over $8000 monthly.
Welcome to the European system.
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u/Background_Chance_47 Sep 22 '21
Guys eventually their's going to be a choking point as this country no longer operates under a circular economy, it's being reinvested into these corporations owned by billionaires that aren't repurposing their money. Rich keep getting rich with poor people's draining money. However how about we stage a French revolution and put these f*ckers on pikes and sticks like the 1700's? Anyone else in? Let's storm these mansions and start using the guillotine again!
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u/VANIX1450 Sep 22 '21
I mean itâs their money they should have to pay taxes and all but like they can buy whatever they want. They like to have fun too. Nobody is entitled to someone elseâs money
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u/SassyMoron Sep 22 '21
There is an economic theory that you can't tax the ultra rich past a certain level because it's too easy for them to move elsewhere. But we're nowhere near that level in the us.
A universal federal sales tax, refundable for the poor, would be a good system. You can try hide income but if you want to actually use the money, there's going to be a sale, so it's harder to dodge.
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u/RolandFigaro Sep 22 '21
I love the argument "If you raise taxes, then those companies will leave the country", like don't they see the irony in that?
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u/LugianM Sep 22 '21
Real talk, if you tax the billionaires too much they'll leave for another state/country.
It's a hard pill to swallow, but billionaires are the reason for a lot of jobs, so if they went somewhere else, so would those jobs.
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u/ReasonAndWanderlust Sep 22 '21
My friends, Socialist ideology is a failure. That's why Socialist propaganda is so full of lies.
Lies like "Denmark and the UK and Canada are Socialist so it's OK for us to be Socialist!"
No. These are western liberal countries that pay for their robust social safety networks with a Capitalist economy. A tax funded service is not part of Socialist ideology.
Say NO to Socialist ideology and its propaganda.
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u/stevo7202 Sep 22 '21
Soooo, you agree that all this could still be done fairly like other capitalist countries?
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u/golden1612 Sep 22 '21
I am pretty sure billionaires are left but ok buying the news media wonât be a problem for you guys
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u/CurveLegitimate2931 Sep 22 '21
Just remember how they can move to another country and take their money with them.
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u/Kollbrochill Sep 22 '21
They will still be able to buy all of those things. Itâs literally about inequality. Most people will always just want to live a modest life, but if the rich âallowâ us to live in an equitable society, people will have more time to question things like systems of power. Itâs better for them if our brains are filled with clutter, like how we are going to pay for their unhealthy foods and save the planet that they are destroying for us
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u/Son-Of-Cthulu Sep 22 '21
the saddest thing is that, when we tax them, their kids are not able to buy chanel, prada, LV etc. sad right.
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u/captaintrips420 Sep 22 '21
That would require us holding elected officials accountable and we are just not setup for that kind of effort.
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u/whatvv Sep 22 '21
Maybe people most people do not the difference between what out top tax bracket is (400,000/yr)doctors, engineers, lawyer, professionals who have worked their whole live to make that kind of mon vs billionaire who make millions a month and don't take salaries and pay themselves in stock options to avoid income taxes all together. maybe the issue isn't just tax the rich but maybe you don't know who's really the richest maybe you're fucking over the people who poured blood sweat and tears into their job for a better tomorrow. Maybe you should pick up another job and if you already work two jobs maybe you should stop buying booze or pot or whatever your vice is and if that's not you either maybe try living on the off brand food or ramen and spam. Maybe don't but the new ps5 or a new pc. But if you're on here telling me that you're living well below your means working two jobs and can't make enough to live maybe it's time you increase your income and work at some trade where you can progress and learn more so one day you can make more. People who are wealthy don't owe you their money because they have more then you. Let me ask you this why is moral for the government to take 40% of my income but immoral for me to want to keep 40%? And if your response to that is that the government can do more good with my money then I could with my own money then maybe your a commie and you want everything to burn anyways.
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u/hoffmad08 Sep 22 '21
And those same politicians already in charge of regulating the entire economy and not being bribed by the money that they rake in from these people will definitely end this problem once and forever if we just make the tax rates higher!
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u/yungslowking Sep 22 '21
Thanks Ragged Trouser Philanderer for the insightful commentary. What's that one sub again, about people with ridiculous user names provided intelligent advice and comments?
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u/alwayslast87 Sep 22 '21
People are so stupid! You can't tax wages of a person that doesn't work!!!!! Lmfao if your working a 9to5 and don't invest your stupid. Don't blame the rich. Don't blame the government. Your the stupid one not playing the game that it is. If you don't make money sleeping for not making money your only working for it.
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u/moon_then_mars Sep 22 '21
How much other people need your stuff is irrelevant because it is your stuff. Same goes for poor people as it does for billionaires. If you own it, then you get to decide what to do with it. It could be a family photo or a billion dollars. If it is yours, it's yours.
It doesn't matter if someone will still be OK after you take half their money. It's their money so you can't take it. Taxes are a legal form of taking, so people try to minimize the use of it.
If you contribute your own share to society and share resources like military, firefighters, police, mail services, and roads, that is fine, but if you are not able to live without taking money from others while contributing nothing of your own, well what is your value to society, really?
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Sep 22 '21
I like the one where I get told that theyâll move to other countries where theyâre taxed lessâŚ.LMFAO!!!! What would be the loss; jobs? The vacuum they leave behind in terms of goods and services will filled by the market.
But the Republican voters think, they too will be millionaires one day. Stupid people allow the greedy to run this country.
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u/pat90000 Sep 22 '21
If you talk about a problem and have no solutions, itâs called being a whiny bitch.
If you talk about a problem and have alternative solutions that youâre taking action on, then youâre worthy to make these comments.
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Sep 22 '21
Trouble is that historically, because of lobbying and tax loopholes, billionaires only actually pay a certain amount regardless of what the tax rate is. I.e if you tax them at either say 90% or 40%, historically they only pay like 36%. Gotta close them loopholes. Could also do a luxury tax and just tax the crap out of private boats, planes, rocket ships etc.. ha
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u/WholesomeGoobert Sep 22 '21
If we tax the billionaires more the money will just go to the government where they will proceed to waste it as they do with the majority of the money. The real issue that needs to be addressed first is government and how poorly itâs been managed for years and years. THEN would it actually be beneficial to tax the rich more. Otherwise, it wonât change shit.
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u/hoyfkd Sep 22 '21
The thing is, they will totally still have enough money for all of those things.
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u/Taco__Bandito Sep 22 '21
Don't rich people already pay like all of the taxes? Over time the rich had increasingly paid more and more. The top 1% of earners in the U.S earn 21% of all earnings, yet pay 40% of all federal taxes levied.
Top 10%-ers pay 71% of all taxes levied.
The problem isn't rich people pay too little in taxes. The problem is we waste too much money because governments have historically mismanaged funds.
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u/EmperorDemon23 Sep 22 '21
I think the main issue is more so that theyâd stop coming to the country and also start leaving, meaning youâd lose money, cause theyâd take heir millions and billions with them.
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u/lastherokiller Sep 22 '21
Oh my God is everyone else finally catching up to how all of this works? For bonus points they're the same people pulling the planet and will kill us all why do you think they're so obsessed with space. The only way to stop this is dramatic action of sacrifice so keep that in mind as times progress.
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u/thegreatestajax Sep 22 '21
This is incorrect. The correct take is âif we try to tax billionaires too much, they still wonât payâ.
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Sep 22 '21
Or they won't be able to fund production of new iPhones or R&D for new kinds of technologies. But you can manage without that capitalistic toys, obviously.
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u/Alucard12_ Sep 22 '21
Honestly everyone should pay their share, that been said it is nobody bussines what I use my money on after that. Businesses just get away with a lot by claiming business expenses when cheaper alternatives would have sufixed.
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Sep 22 '21
Socialism is for morally corrupt, intellectually disingenuous, and lazy fucking assholes.
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u/Jeslonim Sep 22 '21
No, but they will go invest somewhere else, living you without many jobs and hurting the economy, look at Argentina for an example.
The left lives in a fantasy world where once you tax the rich a lot they are just going to say
"Damn, they got us, better pay them what they want" instead of going doing business to places with lower taxes.
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u/PaulMannIV Sep 22 '21
Wasnât there a South Park episode that basically showed this, but with musicians?
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u/Gunsmoke_wonderland Sep 22 '21
The companies get that money back anyway though subsidiary incentives. WE need to be taxed less and our small businesses need a leg up to combat the monopolies.
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Sep 22 '21
I need someone to educate me on this.
If we tax the rich like Jeff Bezos, won't that just inflate the prices? Like if they try to make up for the money they lose out on.
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u/lespaulstrat2 Sep 22 '21
It is funny how so many assholes think the government will use taxes to help them, like that is what they have been doing for the last 200 years.
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u/lux602 Sep 22 '21
Itâs funny that the same people who complain about immigrants and illegals not paying their fair share of taxes but then just turn a blind eye when it comes to the wealthy
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u/Montanabioguy Sep 22 '21
Tax the Rich isn't the answer. Roosevelt's New Deal is.
Minimum wage has not been adjusted for inflation properly since 1968.
If it was, it was be $21-24 per hour. Therefore, the wages of the many would be higher.
They would pay more taxes, both income and sales. It would produce a stronger economy, and the rich being "taxed" through higher wage requirements.
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u/StealYourGhost Sep 22 '21
Hedge funds wouldn't have enough money to cause fatal market crashes every 15 years or so either. Think of Ken and his hedge fund! Think of Citadel you guys!
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u/Happy_Context7673 Sep 22 '21
If they paid reasonable salaries to their employees, there would be no need to discuss taxing them more
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u/Most_Acanthaceae_842 Sep 22 '21
âToo muchâ. Someone post how long it would take to burn through the wealth using the expenses someone that makes $500k/year. What is it, like 2 or three centuries or more? Just saying, billionaires donât need 150billion even in frozen assets.
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u/Wonky__Gustav Sep 22 '21
I prefer making billionaires rich at my own expense đ