It's not just Elon. The hyper-wealthy are showing us that too much money is bad for people's mental health and reality-comprehension.

For their own good, we need to tax them until they are merely rich.

https://www.salon.com/2023/07/17/billionaires-arent-doing-great--for-their-mental-health-time-to-drastically-raise-their/

Tax billionaires for their own good

Salon.com

@AmandaMarcotte

Why do some journalists refer to #Musk by his first name? We don't need or want you to be familiar.

@AmandaMarcotte @CartyBoston
A lot of UK journalists referred to our lying, corrupt former PM Boris Johnson by his first name. I think it’s because it’s an uncommon name.
@CartyBoston @AmandaMarcotte “stop anthropomorphizing billionaires.”

@AmandaMarcotte one day they’re exploiting workers on their way to the top of the economic ladder, and the next they’re imploding in poorly-built submarines and over-spending on social networks.

It’s time to stage an intervention.

@AmandaMarcotte Any revenue over $1 M a year should be taxed at 100% rate.

@pmroman @AmandaMarcotte Can we switch that to $100M in assets?

$1M in income catches many we aren't concerned about (especially entertainers) and misses most those we are. Taxing Ryan Reynolds or Dolly Parton more while skipping Musk, Bezos, and Gates, seems... insufficient.

@opendna @AmandaMarcotte I'm concerned with anyone making over $1M a year, any amount over that should be taxed at a 100% rate. Regarding the net worth, I will tax heavily anything over a total net worth of 20 M which isn't the product of the salary, de facto limited to 1M. And no, entertainers don't get special treatment, nobody does. We don't skip billionaires, they can't exist in the above described taxation system.

@AmandaMarcotte

Can we finally put down the zombie lie that giving the richest people more money creates jobs?

@AmandaMarcotte
U don't tax bourgeoisie

U only axe their heads

This recipe is tested many times

@AmandaMarcotte Heck, being a mere small landlord seems to make people think they are immune to the laws of physics.
@AmandaMarcotte Oooh this is good. It's fascinating how having access to everything for your own healthcare and self-care stops being a favorable thing after a certain point. We could plot a graph of how when you have more money to take care of yourself, you do better, up until you reach a certain critical mass where you can become just absolutely delusional. I liked how they talked about how their curated social bubbles and entourage make it worse.

@AmandaMarcotte

"It's impossible to overstate the degree to which many big tech CEOs and venture capitalists are being radicalized by living within their own cultural and social bubble," tech writer Anil Dash wrote in a recent newsletter. "Their level of paranoia and contrived self-victimization is off the charts, and is getting worse now that they increasingly only consume media that they have funded, created by their own acolytes."

@AmandaMarcotte I'm happy to see this reality getting more traction.
@AmandaMarcotte @lisamelton billionaires love decreeing what the hoi polloi need “for their own good” so I like this framing … good for the goose/gander etc
@AmandaMarcotte tax the stupid out of the stupidly rich.
@AmandaMarcotte Well they say money is the root of all evil...
@AmandaMarcotte $500 million is enough to buy anything you want and go anywhere you want for a lifetime and still leave a fortune for your kids. No one needs more than this.
@AmandaMarcotte tax them until they are destitute. If they’re really mega geniuses deserving of millions then they’ll start another business and employ thousands more people.
@gadgetoid @AmandaMarcotte Exactly 💯. Let them be below the poverty line for a good 5 yrs...then they can pull themselves up by their bootstraps...bc (sarcasm) It's just that easy! #taxtherich back to 70%
@AmandaMarcotte yeah so politicians can steal it ….
@AmandaMarcotte It's a public health emergency at this point.
@AmandaMarcotte And even if it is not good for them.
@AmandaMarcotte they "create reality" And become lost on delusion of power
@AmandaMarcotte at least something good has come out of the submarine incident — the “My Dumb Stepdad” song by Sink-182(AKA Ultragabe)! 😂 It’s hysterical and he got the song out in a few days

@AmandaMarcotte Great piece!

”The good news is that we already know how to save the hyper-wealthy from themselves: Tax them until their nest eggs make them merely rich”

”The bubble of privilege around the excessively wealthy softens their brains. Less money, and more engagement with the real world, is the cure for what ails them.”

#privilege gets everyone, every time. Everyone gets corrupted, and unless the narrative changes, corruption continues. Stay #woke!

@AmandaMarcotte
The big picture, where all this fits in:
TODAY’S CLASS WAR IS THE 1 PERCENT VERSUS THE PEOPLE JUST BELOW THEM

https://theintercept.com/2023/07/16/class-warfare-1-percent-technocrat/

Today’s Class War Is the 1 Percent Versus the People Just Below Them

America’s privileged technocrats are not ready for what’s about to happen to them.

The Intercept
@AmandaMarcotte I just imagined a patient in surgery, many tubes going to an old cash register, and the doctors pushing the buttons going KA-CHING KA-CHING KA-CHING!! desperately until one says “Okay, 999 million! He’s saved, good job everyone!”