Information Is BeautifulHow rich people avoid paying tax
(Originally by Instgram user @newmoney.blog)
MarjorieR@infobeautiful so as it's so difficult to persuade our politicians, who work for the rich, to tax the rich what we need to do is engineer a market crash. Given where the planet is heading surely that won't be too difficult?
Wont bring in more taxes from the rich but at least it will bankrupt them.
Wont bring in more taxes from the rich but at least it will bankrupt them.
Nazo@marjolica @infobeautiful Market crashes screw over *EVERYONE* not just the CEOs and board.
That said... it seriously looks like we're borderline getting there anyway. No one learned anything from the "Great Recession" and we're headed towards a lot of very bad things coming to a head. (The biggest one being the fake "AI" scam bubble. That's going to pop *hard*.)
David Chisnall (*Now with 50% more sarcasm!*)@nazokiyoubinbou @marjolica @infobeautiful
Market crashes screw over people with limited liquidity.
Even the Wall Street Crash only wiped out a small number of companies. People who had diversified portfolios saw their value recover after a few years. The people who went bankrupt were the ones who had been buying shares ‘on the margin’ (with money borrowed against other shares as collateral). When the value of their shares went down, they got margin calls (the loans had to be repaid or covered by other assets).
The people who did well were rich people who had cash or non-stocks assets that they could borrow against. When the market crashed, these people bought shares that doubled (or more) in value over the next few years.
The same pattern repeated in the 2008 and 2020 crashes: a market crash is a buying opportunity for people who plan ahead. This is why a lot of investors are quietly building cash reserves at the moment, waiting for the AI crash.