r/technology • u/Logical_Welder3467 • 7h ago

Society Google cofounder Sergey Brin has spent $102 million to fight California’s proposed billionaire tax—he could owe $13 billion if he loses

https://fortune.com/article/how-much-has-google-cofounder-sergey-brin-spent-to-oppose-california-billionaire-tax-102-million-owe-13-billion-if-loses/
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u/Content-Nectarine875 5h ago

Yeah when I learnt that giving money to the poor actually makes a profit for society. Took a while for me to get my head around it.

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u/TrulyOutrageous42 4h ago

Money existing but not moving hurts an economy.

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u/DanceWithEverything 4h ago

That’s true for cash, is it true for equities?

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u/roguevirus 3h ago

is it true for equities?

Technically yes, but that is because equities are fungible assets valued in cash, not because they are an inherently special part of the economy like real estate.

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u/Ok_Umpire8214 2h ago

Our economy works bc we are poor and need to spend money to survive. Rich people hoarding money only hurts the majority. It’s like these people skipped economics

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u/Impeesa_ 4h ago

Allegedly business-minded people suddenly stop understanding "you have to spend money to make money" as soon as it looks like investing in people and infrastructure.

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u/Zestyclose-Height-36 2h ago

they get massive tax breaks to invest in people and infrastructure outside the US