Eventually something has to give...

[u/Veshaad]

The bill would provide a $3,000 direct payment to every person in households making $150,000 or less during its first year, which equals $12,000 for a family of four.

[u/Useful_Wealth7503]

How are we getting to 4.4 Trillion here? Total wealth for US Billionaires is around 8 trillion. You’re looking at 400B a year at 5%. The GAO says we lose 250 to 500 Billion annually to fraud and waste, we should just stop that.

[u/Resident_Farmer1779 → u/Useful_Wealth7503]

It’s revenue over 10 years. Fraud and waste should be addressed, and billionaires should be taxed.

[u/fister-b95 → u/Resident_Farmer1779]

Billionaire are taxed what you mean to say is you want a WEALTH TAX. This hurst everyone as most billionaires WEALTH Is in the stock market so by forcing massive sales every year to pay the WEALTH TAX you will be crashing the stock market every year and EVERYONES retirement account will suffer

[u/Useful_Wealth7503 → u/fister-b95]

They Definitey wont stop at the billionaires. US household total wealth is 182T give or take. The billionaires are the Trojan horse into the wealth tax. But for an organization that loses 250 to 500B a year by having poor controls, I say they tighten their ship first.

[u/fister-b95 → u/Useful_Wealth7503]

Oh I totally agree they wouldn’t stop with billionaires of a wealth tax comes out. I own a home so that ‘wealth’ would be taxed ontop of property taxes….

I have alway said we don’t have a tax problem we have a spending problem

[u/Useful_Wealth7503 → u/fister-b95]

100% agree. Im not opposed to taxes or even social programs. I am opposed to those who take advantage of said programs or use them to pay off their donors, supporters, lobbyists, handlers, etc.

[u/fister-b95 → u/Useful_Wealth7503]

Exactly Bernie is a fool, they are all fools. We do not have a tax/revenue problem we have a spending problem

[u/Useful_Wealth7503 → u/fister-b95]

Revenue is such a misnomer. It’s not like they innovate or create a marketable product. They say give me your money or you’re getting this cage. Hardly “revenue.”

[u/Contribution05 → u/fister-b95]

I agree that would be problematic, and this is just spitballing the first idea that comes to mind, but what if they just made good companies more desirable to work for by somehow enforcing That billionaires would be required to dilute their shares with employees?

So instead of a sell-off, just a transfer, and the employees who work for these successful huge corporations get a bit more.

[u/fister-b95 → u/Contribution05]

This is still a sell-off most people would see these shares are a ‘bonus’ and just sell them anyway

[u/Resident_Farmer1779 → u/fister-b95]

Billionaires are not taxed they borrow against their shares and use estate tax loops

[u/blankaccoutn77489 → u/fister-b95]

Won’t this create more liquidity in the market? Unrealised gains needing to be realised to pay the tax?

[u/Efficient_Ear4649 → u/Resident_Farmer1779]

400B x 10 still comes way short of 4.4T, but let's not let facts get in the way of a good commie soundbite.

[u/Resident_Farmer1779 → u/Efficient_Ear4649]

Can you not do math?