produnisfair share?
PheganTax billionaires until there are no more billionaires
It’s really insane that we legally treat the tenth billion dollars at the same level as a working persons house or car.
Everything is legally just “property”.
No, fuck that.
The law should protect the first million of every citizen with ferver. (and when we tackle wealth inequality, most people will have this level of wealth at the end of their working life. The fact that most currently don’t is due to inequality. )
Up until 100 million, it should be taxed at a reasonable level. Because at some level, it’s fair that people prefer watching Taylor Swift instead of me sing on a stage.
Above that it should be taxed heavily.
And above a billion, it should be just confiscated. As in, oopsie, our system malfunctioned, you weren’t supposed to end up with more wealth than what a thousand normal people would save up after a whole lifetime of work, so we are taking it back.
The problem is that this wealth is ownership in companies they made. If you start a company and it becomes too successful, Is it right that we really just forcefully take that ownership away from you? Who wants to start a company in a country that takes away your company from you if it’s too successful?
Yes, I’m sure if Jeff Bezos were worth 10 billion dollars less he would have just said forget it I’ll flip burgers instead. I don’t think you need to rip their company from them, you just need to tax them.
You are literally suggesting to rip the company away from them though. They are only worth billions because of that value, if you rant to tax them billions where do you think they are going to get that money? They only have one option, to sell their ownership in their own company. If that’s not ripping their company away from them I don’t know what is.
Are other people paying taxes described as “ripping” away their ownership in “x”? What a bizarre framing. Also, Bezos owns less than 10% of Amazon, so he’s already given away ownership of the company. He has assets, and they should be taxed
How does Amazon exist? How do they continue to operate? They run on the Internet created by the US government, they deliver packages by flying through US airspace, and driving on roads paved by several levels of government. Their factories don’t burn down because of municipal fire departments, and aren’t burglarized because of municipal police departments. Why shouldn’t they pay for those things, which they make much more use of than you or I?
Others aren’t using taxes on wealth though. Should the middle class be taxed on the amount in their retirement funds also? Or the amount in their bank accounts?
10% of Amazon is still a lot, it’s still a lot of power.
You think Amazon doesn’t pay for any of that? They pay for their use of such things like we all do. They do get some discounts thanks to scale, but they are paying way more than you or me.
The problem is that they are all employing tax avoidance schemes. Corporations like Amazon will spin off their IP to a separate off-shore corporation. Then they’ll pay that corporation for the use of their IP. That reduces Amazon’s profit to near zero, meaning they’re not paying taxes. The off shore corporation doesn’t pay taxes either.
People like Bezos won’t take salaries, because they’re taxed. Instead they’ll take stock. Then they’ll take loans against that stock, so they don’t pay taxes. They just roll that loan into another loan and continue to live off of it, never paying taxes because they have no “income”.
So yes, their wealth should be taxed. Otherwise the richest among us pay next to nothing and yet benefit the most from what our taxes buy. If we weren’t adequately capturing taxes from the middle class, then sure, but that’s not the case.
Amazon does invest most of their profits back into the business, that is why they were operating with basically no profit. They still paid plenty of taxes though, like payroll taxes, that aren’t based on profit.
Then apply income tax or something on loans against stock over a certain amount, but I’m guessing that isn’t enough for you? I’m guessing like everyone else here the only solution is to tax them so much they aren’t a billionaire anymore, forcefully taking their company away from them in the process.
I know, it’s awful that people want rich people and rich corporations to pay their fair share of the tax burden. If they can’t pay their fair share and keep ungodly amounts of wealth, while people are homeless and children are starving, while shit, I guess they just shouldn’t have to pay taxes then. What if they had to sell some stock…ohh, the humanity! Will the horrors never cease! You sound like an absolute clown.
What is so bad about investing money back into yourself, it’s exactly what non profits are built around doing.
What is their fair share? Your rant to take away all their profits even if they make none? Stop job growth in the company by not allowing them to invest in new products or ideas?
Why should owners be forced to sell their business just because it’s successful? Why should we punish success? Stock isn’t just some made up currency, it’s literally proof of ownership in a company, it’s voting power, it’s not someone we should be forcing owners to give up.
We want all the tax giveaways of the past fifty years revoked. NONE of them gelp the economy in any way and have caused insurmountable destruction to civilization.
I’m fine with stopping new tax exemptions, but the ones we already gave were just have to live with. It’s not right to ask for it all back.
Yes, it is reinvestment, new ideas aren’t free, they cost startup money, it costs money to develop new products and ideas, it’s literally reinvestment of profits back into the company.
Jeff Bezos does not reinvest his money back into any company. The company profits do that.
And? His wealth is tied directly to your much Amazon is worth, and it’s worth more of it is successful in reinvesting into itself
It IS right to ask for it all back because it was NEVER deserved. It was nothing but crony corruption from Day 1. We HAVE history on this. You are not old enough to understand any of it.
It was given and received, there are no take backs. If you want to complain, complain to the ones who allowed it in the first place.
“No takebacks”??!
So what you’re telling me is that you don’t know anything about the law either.
Where does the law say we can take it all away and require back pay when the other party didn’t break any rules?
It’s known as a “repeal”. It even occurs with Constitutional amendments
This doesn’t happen with financial assets though, at least not that I’ve heard of. Can you name an example of " we are going to give you a break on these taxes or fees" then that turns into “you did nothing wrong, but we are going to want those 20 years of unpaid taxes/fees that we told you that you didn’t need to pay, we changed our minds”.
Are you on drugs? Are you just making stuff up as you go? Where in THE ROYAL FUCK did you even come up with that?? Who even said that?? What the fuck are you talking about??
Were you not suggesting we require all the tax breaks over the last however many years be paid back in full? If not I just have been mixing you up with one of the other dozens of far left crazies I’ve been chatting with.
If you just want to repeal tax breaks that didn’t have a guaranteed life that hasn’t been reached yet, then that’s fine I would probably agree to it depending on the side effects it might cause the middle and lower classes.
Yes, you must be thinking of someone else who also isnt a radicalized right wing fruitcake.
There is no reason that any of them should have a guaranteed life. They were all sponsored by the ones who benefit the most from them. In the words of TFG to his billionaire associates after his cuts passed: “Congratulations, you all just got a lot richer!”
The cuts are destroying the economy and they should ALL be repealed, including the permanent ones.
You realize your ideas that are also being suggested by most people here are radical, right? Radical left is a thing, and this place is overflowing with it.
It’s one thing to suggest doing something about the cuts, but most here don’t think that’s nearly enough, proposing literal theft and preventing movement outside the country. I would argue it’s just as insane here as it is in far right circles, just a different kind of insane.
Radical according to whom? By what standard? That of corporations, stockholders, and fascists?
Radical according to basically the whole country of the USA.
That’s really indeterminate; and besides, the US has no right to judge what is and isn’t radical given it’s horrid history of of hatred, violence, greed, authoritarianism, and oppression.
I mean we are talking about a US issue, so yeah it does matter what the US thinks on US issues, and it really doesn’t matter what the rest of the world thinks.
There aren’t many countries out there who don’t have a history of that stuff, I don’t see why the issues of the past matter at all in this scenario.
So then you understand that it isnt in fact “radical”