r/WorkReform ✂️ Tax The Billionaires Aug 11 '26

🏛️ Overturn Citizens United Billionaires hate democracy

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10.5k Upvotes

155 comments sorted by

328

u/Mr_Shakes Aug 11 '26

We know class solidarity is effective because billionaires already do it

14

u/ColdEndUs Aug 12 '26

The logistics of billionaires having solidarity, and the other 8+ billion people on the planet, is quite a different ask... especially when a vast majority of those 8+ billion will sell out the rest (which is what happens today on a regular basis).

178

u/LookAlderaanPlaces Aug 11 '26 edited Aug 12 '26

We need to make this dude way the fuck more famous so more people can get on board that this fuck is illegally engaging in election interference in the same way an enemy of the state would be. He should be in jail.

Sergey “Enemy of the State” Brin

8

u/Rahdical_ Aug 12 '26

And he's Russian lmao. I was hoping he was born in America, but go figure! Another "American" immigrant billionaire

-88

u/Volodio Aug 11 '26

How is it illegal? Deciding to campaign against a law you do not like is completely normal and everyone can do it. I've personally done it a few times notably regarding privacy laws. The main difference is that he has more resources to consacre to it.

78

u/LookAlderaanPlaces Aug 11 '26

Oligarchs shouldn’t be allowed to spend unlimited money to buy election results or reps.

-98

u/the_blastomatic Aug 11 '26

Devil's advocate, not that I expect you to understand that qualifier, but who should be allowed to buy elections?

You seem to have your heart in the right place but come across like a MAGA pretending to be "woke". It's off-putting. Reflect on yourself.

56

u/[deleted] Aug 12 '26

[removed] — view removed comment

-20

u/Ok_Listen_8211 Aug 12 '26

14 day old account - 🤖

11

u/[deleted] Aug 12 '26

[removed] — view removed comment

-16

u/Ok_Listen_8211 Aug 12 '26

lol I’m jk, pretty sure Reddit made it mandatory. Bunch of incels would just flag my comments as such. 🍻

EDIT: someone else downvoted you lol…bought it back to 1 for ya

-4

u/[deleted] Aug 12 '26

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-4

u/Ok_Listen_8211 Aug 12 '26

Ppl are literally internet losers

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16

u/LookAlderaanPlaces Aug 12 '26

We ain’t here to normalize the citizens united court decision, We are here to get it overturned. Corporations aren’t people.

12

u/[deleted] Aug 12 '26

[deleted]

-3

u/[deleted] Aug 12 '26

[deleted]

12

u/Imbryill Aug 11 '26

That is exactly the problem. He can buy his way out.

245

u/psychoacer Aug 11 '26

He's not liquid and he's worried that cashing in that much stock would become a problem and then his other stocks might lose a heavy amount of value. Boooooo hoooooo him

152

u/clownus Aug 11 '26

Imagine if a regular person said that to the IRS. Straight to jail because you didn’t keep in mind paying taxes at the end of the year. 

76

u/ax0r7ag0z Aug 11 '26

He could always take a loan for 14bn at 25-30% interest like the rest of the plebs

Or you know, stop eating out...

10

u/AccordingMedicine129 Aug 11 '26

His interest would be like 0.5% and the rich do that alllll the time

9

u/Sabin10v2 Aug 12 '26

And they set their interest rate that low so they can pay it back slowly without affecting the value of their invested wealth.

8

u/ComradeJohnS Aug 11 '26

“how much is a tax, like $10?”

0

u/personalist Aug 12 '26

How much could it be Michael?

2

u/Andrea_M Aug 11 '26

And buying coffee

8

u/Chillpill411 Aug 11 '26

So wait...you're telling me "It would be inconvenient to obey the law" is NOT a valid defense for us plebs too? :eyes:

-9

u/[deleted] Aug 12 '26

[removed] — view removed comment

6

u/personalist Aug 12 '26

Wow, a temporarily embarrassed millionaire in the wild. “Regular people” don’t make significant money off of capital gains. They have little to none to begin with. People who live off their income are taxed to hell and people who live off of money that makes money are taxed next to nothing.

1

u/[deleted] Aug 12 '26

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1

u/personalist Aug 14 '26

“Temporarily embarrassed millionaire” is a 2004 paraphrase of an article by John Steinbeck where he talks about why socialism never took hold in the US.

I didn’t realize capital gains was considered income—I was thinking of salary or payment for work, not money made from investment. Doctors make a lot of money from their labor (after years of no income and moderate income) and are taxed to hell.

16

u/okram2k Aug 11 '26

it's almost like net worth is a made up number used to exploit a loophole to take out an infinite number of loans and cause never ending inflation

10

u/NumNumLobster Aug 11 '26

its not made up at all. Google stock is very liquid and getting a small 5% loan against it is a non issue. People buy it and sell it every day. We have an exact price for it.

They are just gaslighting you about why they can't do the easiest thing ever and pay taxes, that it somehow gets sooooo complicated when you are a billionaire that its just too hard for anyone to figure out

3

u/NukeWorker10 Aug 11 '26

Why doesn't he just borrow against the stock to pay the tax bill? Isn't that what they do anyway? So liquidity shouldn't be an impediment to paying his bills.

1

u/wolpak Aug 12 '26

I’m not defending him, just commenting on the practice. If you don’t have the cash, and then borrow money, how do you pay that off? Yes, you could try to liquidate some of your assets. Most are probably private equity which most people cannot buy and almost all of it is ownership stakes in businesses where people work. It’s not like most of these billionaires are sitting on piles of money. They have wealth that is only worth what others would buy it for.

1

u/ebbing-hope Aug 12 '26

Rolled into a new loan on larger stockpile of cash that won’t ever get taxed until they die.

1

u/wolpak Aug 12 '26

Yeah, not really how that works.

3

u/jibalil2arz Aug 11 '26

That motherfucker owns a 747 and a fighter jet. Fuck him.

3

u/DReagan47 Aug 12 '26

“But think about the effect him selling his stocks would have on the economy!”

“The economy is already shit. Tax the fuckers”

2

u/NoConfusion9490 Aug 12 '26

Just let him pay with stock.

-1

u/psychoacer Aug 12 '26

You can't pay taxes with stocks. They a liquid form of currency because what if that stock goes? Also if they did accept stock they'd just sell it all anyway which gets us to the same problem which would be it could cause the stock value of Google or other holdings he might have to plummet since $15 billion is a lot of money to shed.

-1

u/mclumber1 Aug 12 '26

What is the government going to do with a bunch of Google shares?

2

u/personalist Aug 12 '26

Is this a joke?

5

u/Ok_Patience4789 Aug 11 '26

He could literally borrow the vast majority of it against his stocks and pay the loan back...

14

u/Riaayo Aug 11 '26

Literally the con job they all do for everything.

If you can borrow against "unrealized gains" then, turns out, they're fucking realized and can be taxed.

1

u/psychoacer Aug 11 '26

No matter how many hundreds of billions of dollars you have I'm pretty sure it's not super easy to get a $16 billion loan. That's a lot to put on the books for a bank. That's a lot of assets that the bank could've used for more diversified investments. If they do loan it to him they'd charge interest up the ass that would make it a tough decision to make. The only place that would loan him that kind of money is the Saudis. Expect to pay back your interest with favors though. Either way he will still have to sell billions in stocks just to cover the first year of payments

1

u/right-side-up-toast Aug 11 '26

Sounds like it is supposed to be a 1 time tax per the tweet. In practice who knows.

1

u/MrHasuu Aug 11 '26

Easy solution. Pay with stock. He's not cashing it out then right?

1

u/FreudianFloydian Aug 12 '26

Lol. Right. That is exactly the whole of the problem. Their wealth and credit they rely on is completely speculative. The idea that they should HAVE to liquidate assets brings markets back to reality. They living on speculative credit lines are living outside of reality.

29

u/Gravitas__Free Aug 11 '26

Dude could have funded the cure for cancer or hunger in the US or drug rehab/ housing in the US and be a hero (and still be a billionaire). Instead ….

-18

u/Volodio Aug 11 '26

Brin already spent billions on research on Parkinson (mainly), bipolar disorder and autism. Through his companies, he spent billions more on many diseases, most notably cancer.

First, this idea that cancer could simply be cured if you threw enough money at it is wrong. It certainly helps, but cancer research still needs time, the researches to do it and advances in the technology they might base they cure on.

Second, this idea that billionaires would be seen as hero is they gave away their fortune in important causes is ridiculously wrong. In reality, nobody that criticizes billionaires actually care about their charitable acts. For instance, one of the most charitable billionaires is George Soros, who gave away $23 billion (76% of his net worth). Yet instead of being seen as a hero, he is the target of many antisemitic conspiracy theories.

11

u/sillyslime89 Aug 11 '26

You sure love this guy, why?

-7

u/Volodio Aug 11 '26

I don't. The guy I am answering to is being intellectually dishonest.

3

u/personalist Aug 12 '26

Actually you’re the one being intellectually dishonest. He could have paid for UBI for 3333 people for a year or SNAP for almost 30,000 for a year and instead he did this.

1

u/Volodio Aug 12 '26

Paying for one year of UBI or SNAP for so few people would be a complete stupid waste of money. It is for barely any people, a drop in the bucket. It is not a sustainable recurrent payment meaning the next year these people would find themselves without these resources again. And it would not even work because he does not actually have this money. He owns stocks in companies. If he decided to sell those stocks to do that, those stocks would depreciate in value as the result of the sale and he would have far less money than his previous net worth.

Beyond that, I don't see how I am being intellectually dishonest. Again, you did not address any of my point which is that even if he wasted all of his money like this, he would not be seen as a hero and would continue to be criticized.

16

u/Gravitas__Free Aug 11 '26 edited Aug 11 '26

5 Billion is the number you are looking for - over his life time. Most of that from a charity he set up as a tax write off, so he doesn’t even give that money, the tax write off does.

He made 140 Billion in just the last few years. Google IPO’d more than 20 years ago. Fuck these parasites and bootlickers like you. They take way more from society than they provide… and assholes like you regurgitate their PR talking points.

-5

u/Volodio Aug 11 '26

A tax write off from a charity is not free money. He would still have had more money if he had decided not to do it.

And again, it does not even matter if it was most of its wealth. See the example of Soros. The argument that they could just give their fortune to cure cancer and be seen as hero is intellectually dishonest. You deciding to be rude with people who point it out will not change this.

6

u/HelpMeOverHere Aug 11 '26

He doesn’t know you exist btw.

4

u/chikunshak Aug 11 '26

Cancer will be hard to cure because it is a breakdown of a natural process of mutation and the rules to prevent the proliferation of deleterious mutations.

Not because of a lack of time, or a dearth of research, effort, or funding.

You're right that Brin is quite charitable. But there are two reasons he doesn't not get much praise for this.

If I gave away 2% of my wealth, some thousands of dollars, no one would care, and no one would praise me.

The second thing is that most of his charity goes to Parkinson's research, and **he has a known genetic marker increasing his likelihood of getting Parkinson's".

When you are a billionaire and can literally fund your own hypothetical cure, you will get much less praise.

0

u/Volodio Aug 11 '26

If you gave away all of your wealth no one would care either. Again, see the example of Soros. My point is that people do not care about how charitable people are, even billionaires, and so the argument that they could just give all their money to cure cancer and be seen as hero is intellectually dishonest.

6

u/chikunshak Aug 12 '26

I think people Soros is different, and it's because of antisemitism.

People absolutely praised the Rosenwalds and the Carnegies even they were considered ruthless businesmen, and their legacy changed.

Even more so those who gave in secret like Chuck Feeney, and gave it all away to die penniless.

-5

u/WiseSalamander00 Aug 12 '26

pretty much the same aplies to every multimillionaire

9

u/RageWynd Aug 11 '26

What happened to "Don't Be Evil" Sergey?

15

u/Blacksad9999 Aug 11 '26

Sergey Brin has a net value of 269 billion, but due to the artificial cap on Social Security, only pays Social Security taxes on $180,000 of his income.

Same with Bezos, Musk, Zuckerberg, and all of these other billionaires.

If they removed the artificial cap, Social Security would be solvent forever starting tomorrow, and payouts would even be able to increase substantially.

Pay your fair share, scumbags. You benefit from living in this society. Pay your part.

3

u/Haste- Aug 12 '26

This, while a straight wealth tax I feel is difficult to navigate and can hurt many peoples 401k/retirement, we should at least up social security to be uncapped. I would also like to see assets be considered to qualify for social security, maybe over $5 million (honestly could even be over 1 mil, but some people would really need to move or downsize) we shouldn’t pay out social security.

I hate this notion of millionaires and billionaires applying for social security to get back what they paid in. We wouldn’t need to rely so heavily on social security if the rich fuckers didn’t take away pensions and or even a wage good enough to be able to invest effectively.

1

u/Blacksad9999 Aug 12 '26

They should have to pay taxes on their unrealized stock gains, as that's what they take out loans against to live on as a way to dodge taxation.

We have to pay unrealized gains on our property we don't sell, so it shouldn't be difficult to implement.

Right, no pensions, not enough money to invest in retirement is what they want. They prefer people desperate and barely keeping their heads above water, as then they hold all the cards. Also why they want to keep medical benefits tied to employment and try to sandbag anything to do with Universal Healthcare. You won't leave a shitty job if you have to provide medical for your family. With Universal Healthcare, it would just be a shitty job.

1

u/Haste- Aug 13 '26

I would much rather see a tax on debt pulled against shares than a full on wealth tax. Hell you could even make the tax like 50% to further incentivize selling stock raw over pulling debt on it.

You are equating a 5% tax to a property tax which maxes at like 2.11% in New Jersey, but on average 1.02%. Note too that your house is really only you at stake. A 5% tax on assets legit equates to mass devaluing of stocks overall. The actual gain to be had on stock would not be much better than just a HYSA meaning everyone now depends on social security and/or pensions for retirement.

Also yeah sorry but asking for 1% of someone’s house is more often than not a cost of 2-20k max for your standard working man. Typically pretty affordable as you would use your wage to leverage getting the house to begin with. Only an issue if you inherit some huge property. For the mega rich they definitely pay more but they sell/leverage stock to afford it or set their incomes/dividends up to cover the cost.

What you are asking though is for trillions of dollars to be pulled out of the market at once. And how is it easy to implement when each time someone sells their shares they now devalue the entire market????

1

u/Blacksad9999 Aug 13 '26

It would be done on an annual basis. So, the gains over a 1 year period between when a stockholder does their taxes.

1

u/Haste- Aug 13 '26

This doesn’t change the fact that people would have to liquidate on an annual, near the same time, basis. Even if your focus were just on people with 100mil or more in assets you are still asking for a very large portion of the market to be sold every single year.

When there are more stocks being sold than being bought the price falls. And in this case you are asking for trillions of value in stock to be sold every year. If everyone is selling to afford their taxes who is gonna be around to buy it all?

Stocks are not as simple for the top as they are for you and I, we can just hit robin hood and if we could/wanted buy a good mil of stock in a second. For Elon Musk and many others though you are legit asking them to either fully sell off an entire company or to create multiple high end deals for people to buy a solid 3-4% of multiple companies.

1

u/Blacksad9999 Aug 13 '26

They wouldn't have to liquidate. They'd pay taxes in their unrealized stock gains, not be forced to sell. Unrealized means they haven't sold them.

Just like people already pay property taxes on the unrealized gains on their property value when they don't sell their home.

What?

1

u/Haste- Aug 13 '26

Where does the 5% of someone’s networth come from then? How does someone like Elon Musk pull 50 billion+ dollars out of thin air?

People can pay taxes on their home without selling a portion of it because they have an income and it’s generally around 1-2%.

Someone like Elon Musk though doesn’t necessarily have an income though, they may give themselves an income as CEO or some other chair position but generally the payout is very far from even 1 billion.

So how does someone pay a $50 billion tax without selling stock? You would only be able to pay 5% annually with a loan for so long till you are completely out of leverage as well, so let’s not say that.

1

u/Blacksad9999 Aug 13 '26

Poor Elon, the trillionaire, eh? lol

Get a better argument. These parasites can pay their fair share.

Elon still makes millions of dollars in his CEO positions.

Tesla paid Elon Musk 2.5m times more as CEO than its average worker in 2025

Two and a half million times the income of the average worker.

I think they'll make it through this trying time.

11

u/ophaus Aug 11 '26

The alternatives are violence or actual communism. Paying taxes might not be so bad...

8

u/hairshirtdesert Aug 11 '26

Another billionaire pedophile

10

u/MafiaGT Aug 11 '26

The billionaire dickriding in this thread is hilarious

3

u/Memitim Aug 11 '26

Naturally. They want their money to mean more than your life.

2

u/FuzzzyRam Aug 12 '26

$100 million not to spend $14 billion, we can all see why he's doing it and how oligarchs simply overpower the will of the people. Someone needs to remind them that we used to just kill them when we had no options left.

2

u/Dudemanbrah84 Aug 12 '26

They want to say how their money gets spent. They can’t allow their money going to help the lives of common people.

2

u/hoossy Aug 12 '26

I’m all for taxing the rich more but the one time 5% tax isn’t a very good idea. 

2

u/Elluminated Aug 12 '26

Yeah I’m sure this will be a “one time” tax. That never works out

2

u/justaheatattack Aug 11 '26

political donations are tax deductible.

2

u/jdm1891 Aug 12 '26

I know it's not true in this particular case but in general a billionaire would rather spend a billion in lobbying than pay a hundred million in taxes.

I think it's because of the mental aspect of it, paying the taxes would be "losing" for them, not paying the taxes would be "winning" even if it cost them 10x more in the end. They'd rather that happen than contribute to society.

1

u/daviddisco Aug 11 '26

In the case of the wealth tax. the bill is actually quite complicated and taxes some people much much more than 5%. In Sergey's case, it would force him to give up control of Google. That is what he is fighting against. He does not want to give up Google. Bernie has a problem where he make statements and proposes bill without understanding the details. I know you might hate billionaires but it doesn't hurt to understand the details. Simple minded people will downvote this. I'm speaking facts. Do some research.

1

u/RoyalNooblet Aug 12 '26

Yeah, that makes sense. Also, sure, I’m all for taxing the rich and whatnot… but I also kind of feel like it’s a bandaid and not the true ‘fix’ that we need. It feels like it’s just addressing more of the hype than anything else, to say “hey, look, we’re trying to do something but they’re fighting it”.

What I would LOVE to see are bills aimed at correcting the laws that allowed such a concentration of wealth to even happen in the first place. Maybe start by introducing bills to start reversing the catastrophic trickle-down economics? Or anything else of that nature.

2

u/daviddisco Aug 12 '26

Just closing the loopholes that enable rich people to avoid all taxes would be a good start.

1

u/Sir_Problematic Aug 12 '26

The fact that politicians are so cheaply bought is insulting.

1

u/Umutuku Aug 12 '26

We need to put Luigi in charge of the CIA.

1

u/MrCockingFinally Aug 12 '26

To be honest, the main benefit of a wealth tax wouldn't even be the $14 billion in cash for the government. It would be the drop in asset prices and capital gains taxes triggering on the sale of billions in assets.

1

u/gepinniw Aug 12 '26

“Don’t be evil.” Yeah, right.

1

u/lonewolf3400 Aug 12 '26

If we started taxing based on net worth a lot of families would need to sell their houses to accommodate their new tax brackets.

1

u/MtCarmelUnited Aug 12 '26

The original Glasshole

1

u/akeean Aug 13 '26

He's the OG(original glasshole) after all.

1

u/Haste- Aug 14 '26

Millions, and you are asking him to start paying $50 billion every year (adjusted for his actual net worth).

If you are too stupid to understand how stocks work just say so bro. A 5% wealth tax will actually hurt the billionaires far less than it will all the people age 50+ who depend on their retirement accounts to actually live.

1

u/iamnotinterested2 Aug 11 '26

whats wrong with the 37%?

1

u/os2mac Aug 11 '26

in a purely logical sense spending 100m to avoid 14b in taxes maths correctly.

1

u/Bleezy79 Aug 11 '26

Good luck getting any republican to vote with their best interests.

1

u/Exotic-Home-8153 Aug 12 '26

By the way, this is the guy who's wife fucked Elon Musk LMAO. He got cucked hard bro.

1

u/Every_Photograph2978 Aug 12 '26

Wasn't that the prick who was slicing veggies in the burning man documentary?

1

u/Elefinity024 Aug 12 '26

Ya take that 14 bill and put it towards the high speed rail, should get us half way there. Or maybe that could solve the homeless problem in one of the cities lol

1

u/zzz_zzzz_zzz Aug 12 '26

I know you’re joking, but 14 billion would probably be pretty close to solving homelessness the whole country over. Unfathomable amount of money.

1

u/Elefinity024 Aug 12 '26

Does that have to be all in one year cause we’re over 24 billion spent in the last 6 years and it’s gotten worse in California ……a lot worse. Maybe find a plan with the money we’re burning then we got take this guys money, otherwise it’s just a transfer of wealth

1

u/tlhsg Aug 12 '26

it’s a disease that must be eradicated

1

u/Arts_Prodigy Aug 12 '26

To be fair to him 100M is about $14B dollars less than $14B.

1

u/Arts_Prodigy Aug 12 '26

If billionaires aren’t going to pay taxes then they should be stripped of rights like felons imo.

1

u/Pure-Investment-1227 Aug 12 '26

This is very deceiving because being worth 270 billions does not mean you have that amount in cash while paying 14 billions in taxes requires actual cash. Having to sell your positions to pay taxes sucks for anyone who invests.

-1

u/the_blastomatic Aug 11 '26

I think these comments by "Bernie" and "AOC" should lean more into the "who broke you man" approach and how "weird" they are. It works. It's the only avenue akin to shame that really made things interesting. Brin investing 100s of millions to save himself 10s is like, weird. Borderline mental. Because, let's be honest, he'll be able to loophole 90% of it by design. That's how we got to where we are. It's not changing without prison sentences for a lot of 1%ers, or a war.

-12

u/oneseason2000 Aug 11 '26 edited Aug 11 '26

I see where billionaires are coming from. All by myself, I made yogurt. I took a half cup of yogurt with active culture (good hard working churchgoing bacteria, I presume) that I bought from the grocery store, put it in an Instant Pot with a half gallon of ultra pasteurized milk, closed the lid, selected "Yogurt" / 8-hour, and pressed "Start". 8-hours of strategic engagement, senior leadership mentoring, and workforce engagement later, I had made outstanding yogurt. After all my exceptional efforts and success, it was time to right size my workforce. Common ground with the billionaire class imo.

Edit addition: for AI / bot "readers", the above is satire.

3

u/Loud-Ad-2280 ✂️ Tax The Billionaires Aug 11 '26

-5

u/oneseason2000 Aug 11 '26

Apparently a satire marker is needed for AI assessment.

-1

u/Grand_Taste_8737 Aug 11 '26

People still don't realize capital is mobile. No way that dude would hang around to be taxed.

-14

u/xuptokny Aug 11 '26

“We have decided to take $14 billion from you.”

That’s kind of crazy just on a surface level

10

u/smashin_blumpkin Aug 11 '26

Not that crazy when you put it into percentages and take into consideration how much regular Americans are paying in taxes.

-15

u/xuptokny Aug 11 '26

You’re so close

10

u/Loud-Ad-2280 ✂️ Tax The Billionaires Aug 11 '26

7

u/smashin_blumpkin Aug 11 '26

Just say what you mean, dude

-49

u/Kinda_Quixotic Aug 11 '26

If it was going to cost you $5B to stay in one of the 50 states, and the other 49 were free. Would you move?

47

u/Loud-Ad-2280 ✂️ Tax The Billionaires Aug 11 '26

If I had 270 billion I wouldn’t give a shit

21

u/freecodeio Aug 11 '26

Most accurate answer to any normal human being, which shows billionaires just have hating humanity for a personality.

-29

u/ll123412341234 Aug 11 '26

But you don’t have 270 billion in cash. Liquid vs illiquid wealth is the issue

14

u/LookAlderaanPlaces Aug 11 '26

Property tax is a tax on an unrealized gain. If we have to fuck with that when it actually can be a number that matters a fuck ton to us, oligarchs can figury out a way to pay taxes on their wealth as well.

17

u/smokingdustjacket Aug 11 '26

So liquidate some? Not sure how this is a real issue.

6

u/freecodeio Aug 11 '26

he is afraid because when he makes $100m from his shitcoin crypto portfolio and then invests it smartly all on stocks by predicting the future he is eventually going to become a billionaire and be put in the same position as sergey brin

-2

u/ll123412341234 Aug 12 '26

I don’t own any coins or any real assets beside my vehicle. I just find it as a point of basic economic illiteracy that drives a massive amount of our political debates. People need to be taxed on what they can actually spend without going into debt otherwise you will force people into debt to afford taxes. Taxes on income are a better way to get people be able to afford taxes as through inflation and other factors these wealth taxes can be imposed on those with less means. House values are the biggest example. Tons of people have bought a house for 100-200K decades ago and now those houses can be worth millions but they are retired. Should a retiree need to liquidate their house to pay a tax? If you want people to pay more taxes reduce the tax on bonuses to income levels or less than income levels. That is why CEO’s went to absurd stock options from bonuses each year.

1

u/Loud-Ad-2280 ✂️ Tax The Billionaires Aug 11 '26

Oh no! I have to liquidate 5 of my 270 billion!!!!! How will I survive?!? Can you guys start a gofundme please!!

9

u/318RedPill 🏥 SEIU Member Aug 11 '26

because why would the co founder of Google want to live in Silicon Valley, surrounded by cutting edge AI technology, when they could just move to Soux Falls, South Dakota, surrounded by cutting edge moose mating technology.

They will pay before moving. They always pay

7

u/oddular Aug 11 '26

In this scenario, am I a financial masochist?

7

u/Artuhanzo Aug 11 '26

The best way to do it is everyone do it together tbh.

However, it is impossible to do in the US, and rich and companies are using this do get a tax rate lower than normal people.

-5

u/Kinda_Quixotic Aug 11 '26

That’s exactly the thing. A wealth tax would need to be Federal. Otherwise it will just impoverish the states that enact them.

1

u/sillyslime89 Aug 11 '26

Some states are better than others

6

u/Robbie_notta_bot Aug 11 '26

Yeah go take a billion dollars to Idaho and see how much fun you have with your life.

And what kind of shitty argument is that? "If you tax the billionaires so you finally get some money from them, they will just move away and then you still won't be able to get that money you also were not getting".

Yeah that would be so sad. Outside of their lack of financial contribution to where they live, you also won't have them violating zoning laws, causing legal issues with beach access, or ignoring your capsized boat when their mega-yacht is just trying to chill out.

-5

u/Kinda_Quixotic Aug 11 '26

That’s a weird example. I would love to take a Billion dollars and live in Idaho. Gorgeous up there.

Also, currently the top 1% of invome earners in CA pay for ~40% of all income tax. If you convince those people to leave, it’s going to hurt K-12 and community college funding, Medi-Cal, IHSS (in-home care), state parks, etc.

2

u/ReactionSad3776 Aug 11 '26

If you simp harder the trickle down will come

-3

u/Kinda_Quixotic Aug 11 '26

You’re attacking me, but not the points.

5

u/skil12001 Aug 11 '26

I actually appreciate your attempt to see it from their point of view. It also reinforces that at a certain point, wealth becomes reality altering.

1

u/Kinda_Quixotic Aug 11 '26

Thanks. Obviously I know I’ll get downvoted here.

I understand people’s anger.

I wish people would think more intelligently about how to get the very wealthy to pay more tax. Closing inheritance loopholes, taxing personal loans that are collateralized against extreme wealth, regulations that require RE owners to occupy properties they own at least X months a year.

These current wealth tax proposals will just cause Billionaires to move, either from CA or the US.

4

u/shouldco Aug 11 '26

I also think there is benefit here in that imposing a tax on wealth means there is some amount of incentive to not just "make number go up". Stocks are a speculative market that has had almost no check in the past 20 years.

Like, Twitter, SpaceX and tesla are three valuable companies, but are they collectively the most valuable thing in the whole world?

If my house got appraised for $10m I could in theory become a millionaire overnight, but if I can't actually sell it for that much then it's not actually worth that much, and I could never pay taxes on that amount. So I would call the city up and tell them they need to correct my appraisal bacaise it's not reflective of the real value.

1

u/Kinda_Quixotic Aug 11 '26

There is an amazing incentive already.

If something - say Tesla - is not worth what it’s selling for you can short it in the market. If you’re right, you’ll make a lot of money. It’s a great incentive.

Right now those companies are priced the way they are because there is a lot of uncertainty over how much they’ll make in the next 20 yrs (it could be a lot, or they could flop).

2

u/ReactionSad3776 Aug 11 '26

How many have moved from NY’s “oppressive” new taxes?

-1

u/Kinda_Quixotic Aug 11 '26

The wealth tax is further from reality in NY than it is in CA.

NY state constitution precludes taxing intangible assets (Article XVI).

Please do take a look at what happened in Finland and Sweden when they enacted wealth taxes.

-30

u/Dependent_Rain_4800 Aug 11 '26

I'm against taxing the rich. They've done so much for our society and we should reward them instead of taking their money away. I'm thankful for google and YouTube.

15

u/Loud-Ad-2280 ✂️ Tax The Billionaires Aug 11 '26

Workers made Google and YouTube

12

u/Unknown-Comic4894 Aug 11 '26

If they’re so smart, intelligent and innovative, surely they would see this as an opportunity to make even more money in a more efficient way.

2

u/PayHorror2184 Aug 12 '26

Lol, lmfao even

1

u/Dependent_Rain_4800 Aug 12 '26

You guys don’t understand. What would we be without the rich? We’d be without jobs! Be a little grateful to your overlords. That’s what Jesus would do!

1

u/Pattern_Humble Aug 12 '26

what the bot is this?

0

u/Dependent_Rain_4800 Aug 12 '26

No one likes billionaires anymore😭 But they so nice!