“Criminalize”? We need wealth and estate tax for sure.
edit – I mean a tax that actually scales the marginal tax rate for wealthy people so we can alleviate tax burden on the working class
We invented percentage based tax rates to deal with the wealthy and they paid the government to reduce those and then they paid the news to convince people that taxes are bad and now Elon can wipe his ass with generational levels of wealth while millions struggle. Such is life.
This is the kind of statement that makes it clear that when you lack emotional maturity you tend to react without any sound reason or logic in your assertions; Instead coming up with half baked lazy ideas that are built upon envy and resentment. It’s the same as a child screaming “it’s not fair” when they’re put in their room for misbehaving while their sibling enjoys an ice cream cone for behaving above and beyond their chores.
Like, no shit billionaires wealth have gone up since the pandemic; They have a majority ownership or at least a large stake in the companies they own and retail investors (you and I) have flooded the stock market causing gains to increase at unprecedented levels. So, we should jail someone because they’ve done their job by leading their companies to benefit the public with their products causing the public to then put their money into their companies? Yeah, that makes perfect sense. I wonder what would happen when all of these companies collapse from their leadership being jailed for the crime of doing their job and unemployment skyrockets to unprecedented levels along with poverty.
Why? We need to criminalize being poor
Wrong answer.
We should heavily tax inheritance and we should raise top rates, close the capital gains loophole and tax total wealth increases.
We should also change campaign finance so that you don’t have to be rich or backed by the rich to win. Members of the house spend far more time “dialing for dollars” then they do meeting with constituents or legislating. Many, perhaps most, are completely dependent on the rich.
Criminal “justice” is a poor way to fix social evils.
One of the problems is that ordinary people already know that these billionaires are robbers of the poor, exploiters of whoever there is to exploit, but somehow they prefer to side with them in the hope that they may gain some of their status and protection
Jeeeeezus…..
I get that we are all mad…. And I get that pay is not proportionate to cost right now…. I know it’s damn hard out there… I do not endorse how the people in power are handling things…
But fuck me you have all lost ur minds…
We have a lot to do with our situations and we need to check ourselves on that… The stuff people claim they deserve by stealing other people’s wealth is insane… The hardship you think you endure in America of all places…
You privileged fucks wonder how anyone “protect the rich just because they are too stupid to realize they will never be rich”… It’s to put a buffer to ensure you don’t take my shit too because the minute you can you will..
What a load of commie drivel 😄😄
Everyone and their mama used these people’s services during the pandemic, that’s why they got so rich.
That’s called freedom.
People chose to spend their money at their business.
Jesus do you want to be taxed on the value of everything you own? These posts are made by people who don’t even bother learning how taxes work.
If Warren Buffets wealth increased by 23.5B one year, it could just as likely decrease by 200B the next year. You confuse total assets value and with dollars earned. When you sell assets, those become dollars earned and not before you sell them, because you do not receive any form of cash, tradeable currency, for that valued asset.
This is why you do NOT pay taxes on unrealized gains.
If the pen you owns goes up $10 in value, do you want to pay the govt $1.50 in taxes? Do you want to do that for everything you own? This type of taxation is called taxes on unrealized gains. You don’t even see a penny of the $10 increase in value, yet you’re paying a tax on it.
Now let’s take a practical example into consideration. Let’s say I lived below my means in a small 1 bedroom apt my whole life penny pinching everything and investing everything I coud. Let’s say I accumulated $1M in total investments and I have zero dollars in my bank or pocket but $1M in my investment account that I worked my whole life working hard and living frugally for. If that $1M investment has a 10% gain, but I didn’t get a single real dollar for it yet, I would still owe the govt $20k in taxes that I DO NOT HAVE! I would have to sell my investments in order to pay that tax. Then the very next year my investment goes down by 20%. Now I only have 720k. I lost 200k dollars. I get to carry over 3k of losses for life, wow, that seems fair.
Great, now you’ve destroyed the ONLY WAY TO CREATE WEALTH regardless of any level of investor. This is exactly the type of system we had with the British monarchy. You are literally re-creating the system we fought for independent from. How stupid are you?
Talk about not having any understanding of taxes and monetary systems.
The govt is a greedy monarchy that wants all your taxes. You think your taxes will go down? No the monarchy will increase spending and will need MORE of your money. Yours, mine, the ultra wealthy. Continuing to deplete our ability for any person to accumulate wealth.
The pitchforks are coming 🇺🇸
Yeah but y’all voted for Trump who does not represent people, but believe he does. Yall avoided Sanders like the plague. You missed the boat.
It’s interesting language. I like what Cornel West called the systemic problem- “organized greed.” I think that synthesizes how the wealth transfers are organized, technically legal, but clearly morally bankrupt. We definitely need to prosecute white collar crime–the tools as they are aren’t working. What’s next? History has a playbook.
We have tried communism many times in many places in many ways and it has failed every single time. Move on.
This is a garbage statistic. If you have 999 million one year and then 1 billion the next year, billionaires just gained 1 billion dollars of wealth. There are more billionaires every year because the economy is growing.
Better put a billionaire in charge. They’ll definitely make sure I get my fair share!
The government stopped regular people from working regular jobs. The very rich never stop earning.
Or much more than this year’s deficit.
Criminalize the rich. Ok comrade, I think you missed the last flight to the Soviet Union
We need to take money out of being a politician. We need to make sure ceo’s get paid in ratio to lowest employee. We need to change our views that encourage sociopaths to take advantage of us and the system because they get ahead
Not to be a dick but if you have your money invested in the stock market… then yes your accounts are up 88% or more since Covid. I’m not rich but all my money is invested and I would encourage anyone else to do the same if you don’t need the money immediately.
Note to armchair economists and capitalist apologists: wealth distribution is always and can only be, zero-sum, no matter how big you “grow the pie”.
Cap wealth accumulation at $5B. Why there? Because most billionaires have less and therefore be more inclined to support a cap.
Turn the reduction to cap into a voluntary competition for global recognition by giving those over cap four years to reduce their wealth to legal limits. Stock distribution to past and current employees of the companies the stocks are bound to, per longevity and in inverse proportion to pay grade would be one way, returning/sharing the wealth with the people who created it in the first place. Allowing donations of land, art, stocks, and cash to universities, hospitals, climate projects, refugee relief, disaster mitigation would be another path of disbursement, with set limits and total amounts in order to spread the wealth among worthy organizations. At the end of the four years, name the person who demonstrably did the most for the world a global hero and give them a plaque or something, a statue at the UN perhaps.
Doing that would improve the lives of billions, and reduce world tensions by a measurable amount.
22 comments
“Criminalize”? We need wealth and estate tax for sure.
edit – I mean a tax that actually scales the marginal tax rate for wealthy people so we can alleviate tax burden on the working class
We invented percentage based tax rates to deal with the wealthy and they paid the government to reduce those and then they paid the news to convince people that taxes are bad and now Elon can wipe his ass with generational levels of wealth while millions struggle. Such is life.
This is the kind of statement that makes it clear that when you lack emotional maturity you tend to react without any sound reason or logic in your assertions; Instead coming up with half baked lazy ideas that are built upon envy and resentment. It’s the same as a child screaming “it’s not fair” when they’re put in their room for misbehaving while their sibling enjoys an ice cream cone for behaving above and beyond their chores.
Like, no shit billionaires wealth have gone up since the pandemic; They have a majority ownership or at least a large stake in the companies they own and retail investors (you and I) have flooded the stock market causing gains to increase at unprecedented levels. So, we should jail someone because they’ve done their job by leading their companies to benefit the public with their products causing the public to then put their money into their companies? Yeah, that makes perfect sense. I wonder what would happen when all of these companies collapse from their leadership being jailed for the crime of doing their job and unemployment skyrockets to unprecedented levels along with poverty.
Why? We need to criminalize being poor
Wrong answer.
We should heavily tax inheritance and we should raise top rates, close the capital gains loophole and tax total wealth increases.
We should also change campaign finance so that you don’t have to be rich or backed by the rich to win. Members of the house spend far more time “dialing for dollars” then they do meeting with constituents or legislating. Many, perhaps most, are completely dependent on the rich.
Criminal “justice” is a poor way to fix social evils.
One of the problems is that ordinary people already know that these billionaires are robbers of the poor, exploiters of whoever there is to exploit, but somehow they prefer to side with them in the hope that they may gain some of their status and protection
Jeeeeezus…..
I get that we are all mad…. And I get that pay is not proportionate to cost right now…. I know it’s damn hard out there… I do not endorse how the people in power are handling things…
But fuck me you have all lost ur minds…
We have a lot to do with our situations and we need to check ourselves on that… The stuff people claim they deserve by stealing other people’s wealth is insane… The hardship you think you endure in America of all places…
You privileged fucks wonder how anyone “protect the rich just because they are too stupid to realize they will never be rich”… It’s to put a buffer to ensure you don’t take my shit too because the minute you can you will..
What a load of commie drivel 😄😄
Everyone and their mama used these people’s services during the pandemic, that’s why they got so rich.
That’s called freedom.
People chose to spend their money at their business.
Jesus do you want to be taxed on the value of everything you own? These posts are made by people who don’t even bother learning how taxes work.
If Warren Buffets wealth increased by 23.5B one year, it could just as likely decrease by 200B the next year. You confuse total assets value and with dollars earned. When you sell assets, those become dollars earned and not before you sell them, because you do not receive any form of cash, tradeable currency, for that valued asset.
This is why you do NOT pay taxes on unrealized gains.
If the pen you owns goes up $10 in value, do you want to pay the govt $1.50 in taxes? Do you want to do that for everything you own? This type of taxation is called taxes on unrealized gains. You don’t even see a penny of the $10 increase in value, yet you’re paying a tax on it.
Now let’s take a practical example into consideration. Let’s say I lived below my means in a small 1 bedroom apt my whole life penny pinching everything and investing everything I coud. Let’s say I accumulated $1M in total investments and I have zero dollars in my bank or pocket but $1M in my investment account that I worked my whole life working hard and living frugally for. If that $1M investment has a 10% gain, but I didn’t get a single real dollar for it yet, I would still owe the govt $20k in taxes that I DO NOT HAVE! I would have to sell my investments in order to pay that tax. Then the very next year my investment goes down by 20%. Now I only have 720k. I lost 200k dollars. I get to carry over 3k of losses for life, wow, that seems fair.
Great, now you’ve destroyed the ONLY WAY TO CREATE WEALTH regardless of any level of investor. This is exactly the type of system we had with the British monarchy. You are literally re-creating the system we fought for independent from. How stupid are you?
Talk about not having any understanding of taxes and monetary systems.
The govt is a greedy monarchy that wants all your taxes. You think your taxes will go down? No the monarchy will increase spending and will need MORE of your money. Yours, mine, the ultra wealthy. Continuing to deplete our ability for any person to accumulate wealth.
The pitchforks are coming 🇺🇸
Yeah but y’all voted for Trump who does not represent people, but believe he does. Yall avoided Sanders like the plague. You missed the boat.
It’s interesting language. I like what Cornel West called the systemic problem- “organized greed.” I think that synthesizes how the wealth transfers are organized, technically legal, but clearly morally bankrupt. We definitely need to prosecute white collar crime–the tools as they are aren’t working. What’s next? History has a playbook.
We have tried communism many times in many places in many ways and it has failed every single time. Move on.
This is a garbage statistic. If you have 999 million one year and then 1 billion the next year, billionaires just gained 1 billion dollars of wealth. There are more billionaires every year because the economy is growing.
Better put a billionaire in charge. They’ll definitely make sure I get my fair share!
The government stopped regular people from working regular jobs. The very rich never stop earning.
Or much more than this year’s deficit.
Criminalize the rich. Ok comrade, I think you missed the last flight to the Soviet Union
We need to take money out of being a politician. We need to make sure ceo’s get paid in ratio to lowest employee. We need to change our views that encourage sociopaths to take advantage of us and the system because they get ahead
Not to be a dick but if you have your money invested in the stock market… then yes your accounts are up 88% or more since Covid. I’m not rich but all my money is invested and I would encourage anyone else to do the same if you don’t need the money immediately.
Note to armchair economists and capitalist apologists: wealth distribution is always and can only be, zero-sum, no matter how big you “grow the pie”.
Cap wealth accumulation at $5B. Why there? Because most billionaires have less and therefore be more inclined to support a cap.
Turn the reduction to cap into a voluntary competition for global recognition by giving those over cap four years to reduce their wealth to legal limits. Stock distribution to past and current employees of the companies the stocks are bound to, per longevity and in inverse proportion to pay grade would be one way, returning/sharing the wealth with the people who created it in the first place. Allowing donations of land, art, stocks, and cash to universities, hospitals, climate projects, refugee relief, disaster mitigation would be another path of disbursement, with set limits and total amounts in order to spread the wealth among worthy organizations. At the end of the four years, name the person who demonstrably did the most for the world a global hero and give them a plaque or something, a statue at the UN perhaps.
Doing that would improve the lives of billions, and reduce world tensions by a measurable amount.
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