✨️Heather✨️Nov 14, 2022
Robert Reich

A regular billionaire can afford a private jet.

A centibillionaire can afford to buy a Gulfstream jet, every day, for 10+ years.

A billionaire would struggle to buy a pro baseball team.

A centibillionaire could buy every team in the MLB.

We need a wealth tax.

Now.

Nov 13, 2022 at 11:11pmWeb
Show threaddaniel s.Nov 13, 2022
@rbreich guillotines would probably be more effective
Show threadTBNov 14, 2022
@selfagency @rbreich https://m.youtube.com/watch?v=acT_PSAZ7BQ
The Coup - "The Guillotine"

YouTube
Show threadDaybed BabyNov 13, 2022
@rbreich #taxtherich
Show threadJoel BatistaNov 13, 2022
@rbreich many of them have their wealth on paper and some inflate it by pumping the stock of the companies they own pretending to be saviors of the planet. They are very wealthy, still not wealthy enough to produce 44B in cash...
Show threadRobert HolbertNov 14, 2022
@joelbatista @rbreich They intentionally keep their wealth on paper and live off loans against their assets. If the asset grows faster than the interest rate, they can avoid even the low "capital gains" tax rate until (or if) they eventually cash out. Meanwhile, most normal American's wealth is tied up in their homes. If their home values go up "on paper", their property taxes go up even if they have no intention of selling. Regressive system design!
Show threadAbiding DudeNov 14, 2022
@rbreich and a carbon tax while we are at it.
Show threadBjones9942 Nov 14, 2022
@rbreich But Robert, so many in Congress over the last five or six decades have worked so hard to prevent the IRS from redistributing wealth! Why would you hurt them so? Feel sorry for the wealthy - their burden is heavy! :)
Show threadPatricia AbrahamNov 14, 2022
@rbreich 💯 hi Robert! Love your work! Thank you for fighting for Democracy! It does not go unnoticed!💙
Show threadShelenn AyresNov 14, 2022
@rbreich Welcome to the Fediverse!
Show threadArdentArchivistNov 14, 2022
@rbreich
“Regular billionaire” is a phrase I can’t quite come to terms with.
Show threadBen SalinasNov 14, 2022
@rbreich Every billionaire is a policy failure. Our society simply cannot support the existence of a few at the top holding all the wealth and opportunities.
Show threadJoaquimNov 14, 2022
@rbreich respectfully, I Guedes If It is not better tax even more the jets... And ALL the issues that derives from them...
Show threadSven A. SchmidtNov 14, 2022
@rbreich You mean hecto billionaire, right? 🙂
Show thread🌹Imogen🌹Nov 14, 2022
@rbreich Yay, you’re here. Would be honoured for a follow Mr Reich. 👍😎🌹