@rbreich Let's get our money back from the 1% #billionaires
#tax financial trade and #investment
They will dodge income tax but they must invest
https://econrevolt.com #econrevolt

@rbreich This is the same for the UK too, although am not sure about the yachts, even though we are basically an island.

@rbreich Yachts are targetable by orcas.

@rbreich to the surrogate maintaining the account for Dr. Reich, I have seen two #Substack posts in my email inbox from his feed this #Friday. I'd like to suggest that you post links to those articles on #Mastodon so you can attract more followers to his time-line and Substack. Thanks.

@rbreich see Christopher Lasch The Revolt of the Elite. I believe he cites Dr. Reich.

@rbreich yeah but but but THE BORDER CRISIS don’t you watch all the billionaire owned news?
And
But but but the crime wave in all the cities!!! As is easy to feel because every damn news outlet covers every single hit and run every burglary without any context of the population statistics etc
Again DON’T YOU USE BILLIONAIRE OWNED & CURATED SOCIAL MEDIA?

@rbreich what’s the difference in the yacht tax to any other biz expense?

@rbreich
Yacht possible justification exists for that type of deduction?

@rbreich but but but but what about that made up pregnant woman who has 13 kids so she can get welfare $$$???

@rbreich yes. great. but pointing it out changes nothing. WHAT DO?

@rbreich
Read an article about 10 years ago that spelled out all the free money people who make over $1M/yr (actual millionaires) get from the gov't that peons can't cash in on.
The gov't helps them pay for a second/vacation home mortgage
Provides free air traffic control for the private airstrips they use
And the private airstrips themselves are subsidized
Subsidized chauffeurs (business expenses)
The list was pretty long, averaging out to $105K/yr per millionaire.

@rbreich
Bring back the Luxury Tax once imposed by George Bush.
#Taxthetoys

@rbreich - I guess that's why the original Monopoly game has a luxury tax. I wonder what that game would look like if it was invented today?

@rbreich The rich also effectively control the US tax codes (well really legislation in general). This is true regardless of who holds office. How do we change our entire political and societal landscape?

@rbreich
Hey Robert, the reason there's a yacht tax deduction is because, just like a family home, you can live on a yacht. Most states levy property tax on yachts at the same rate as principal domiciles. I should know, I was a liveaboard for >5 years.

@rbreich My 20 yr old son with type one diabetes and hypermobile Ehlers-danlos with chronic pain, lost his food stamps due to Iowa adding work requirements. He's applied to over 30 jobs in the past year and can't find a job that works with his health issues and with no doctor near us that understands Ehlers. But sure Republican voterd give billionaires tax breaks on their yachts and continue to believe my son is the problem. 😡🤬

@rbreich small crimes let you get in prison, massive crimes let you get in Forbes Rankings.

@rbreich Would a 10% flat income tax (no deductions) on everyone generate enough revenue to replace the system we have now?

Yes, they are the rent seekers, parasites. If most of them disappeared off the face of the earth no-one would notice.

@rbreich not to mention the government grants they get, you only have to look at Elon musk, he's got to be one of the biggest government mooches the world has ever seen...

@rbreich And they count on all the upset plebs to complain about it and nothing more. That’s part of the math.

@rbreich Canada is not much better! 🇨🇦🙄
We just don't have as many, it is a global problem! 🌎

@rbreich YES...