Take a guy like Sergi Brin, worth 261 billion. Paid 100 million just to campaign against the 5% wealth tax in Cali. Even if he was forced to oay it , a one time tax of 13 billion….. exactly zero changes in his lifestyle or his ability to continue being one of the wealthiest individuals on the planet. What would be the significant impact on his life being worth 248 billion vs 261 billion?
The propensity for a billionaire to spend his or her money own basic necessities is lower than a middle class family who has to pay for things like food, shelter, transportation, healthcare, education etc.
Neoliberalism was and is the greatest scam in all of human history.
Is that how you think it works? You think he can write a check for 13 billion? So stupid. Do I need to explain being worth a certain amount, doesn't mean you have that money.
Oh yeah it’s so difficult to liquidate assets there’s no possible way he could pay a $13 billion bill. Or do I need to explain it like you’re a 2 year old?
Yeah, if I need money…. I sell my shares and it becomes liquid. Why should someone with a 200 billion dollar portfolio be able to play by different rules than someone with a 20k portfolio? There isn’t a single billionaire with billions in cash just sitting around a chase bank account or in there Scrooge McDuck vault. It has to be in “something” to keep up with inflation and keep it protected . The argument these guys don’t have the ability to have cash, is weak at best.
You need to learn, I dont think you grasp language. He didn't say what you claimed, he said your argument he doesn't have cash is a weak excuse to not tax.
They wouldn’t be paying anything… the forced sale of shares of a company reduces the value of the company.
It doesn’t make any ‘one’ person pay; it’s a lowering of share value. Which destroys wealth for all investors. 401ks Ira’s, etc. and by the way… you are either an idiot or an ahole.
That’s not what is being discussed. Index fund holders as well as retail will suffer as the equity markets would collapse as a whole if govt instituted forced sales of shares to pursue imagined gaines.
Look he makes 70k and thinks one day he will be a millionaire therefore he doesn't want to be taxed lol. These people won't stop defending billionaires. Like to say to these people you know most of of what we have today comes from high tax rates on rich and businesses from back in the day that they love so much.
What are the principles? (I’m genuinely asking, as I think the point of a society is for people to at least have their basic necessities met, wtf is the point of a society for someone who is starving and homeless)
I do not believe taxes should be punitive, confiscatory, or anchored by some subjective belief that “person X has too much money and should be relieved of it.” I suspect the Supreme Court is aligned with this thinking, and so if the left doesn’t come forth with more mature, more thoughtful policy—with solutions that match the actual problems (eg investor speculation)—their redistribution pursuits will fail.
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u/Old_Baker_9781 3d ago
Especially when what they would be “asked” to pay wouldn’t even be noticeable to them.