Well, not really. He can’t actually spend that money. When he bought twitter, he had to take a bunch of sketchy loans and some of his stocks dropped because he had to sell a lot.
If he actually sells a bunch of his stocks, the price will dip and make the rest worth far less. So it’s not actually spendable money.
It’s more of a power measurement. If you have a billion you have influence over that many assets.
Also a problem with wealth tax. If you have to sell assets to pay it, that could have a bunch of weird effects. I think Denmark doesn’t actually tax your assets, they just increase your income tax if your wealth is above a certain level. But I’m not 100% on that.
You don’t see an exodus of homeowners for their property tax.
Why is that? Hmmm? Is it the case that rich people wanna be where money is? And nice services are? Where the culture is? Where the art is? Where their family is? Their friends? Their children’s life?
Show me a study that unequivocally shows that raising taxes leads to mass capital flight. I haven’t seen one yet. At best, its mixed.
They say this about minimum wage “you can’t raise it to $15 business will leave and go under!”
And every fucking time states or cities increase the minimum wage, that doesn’t happen.
Well, not really. He can’t actually spend that money. When he bought twitter, he had to take a bunch of sketchy loans and some of his stocks dropped because he had to sell a lot.
If he actually sells a bunch of his stocks, the price will dip and make the rest worth far less. So it’s not actually spendable money.
It’s more of a power measurement. If you have a billion you have influence over that many assets.
Also a problem with wealth tax. If you have to sell assets to pay it, that could have a bunch of weird effects. I think Denmark doesn’t actually tax your assets, they just increase your income tax if your wealth is above a certain level. But I’m not 100% on that.
Every fucking year hundreds of thousands, if not millions, of Americans pay a tax on an illiquid asset: the property tax.
Don’t fucking tell me “oh it’s too difficult, there’s too many effects.” Tax. Them.
Progressive tax rate on long term and short term capital gains. 95 % upper limit for income tax. Kneecap their bullshit “buy, borrow, die” cycle.
Get back to the fucking WW2 tax levels, back when we had a middle class, and then we can maybe finally have a balanced budget, at least.
What would happen to America and the USD if all of those people left the country and took their “wealth” with them?
What would the host do without the parasites?
They don’t leave. At least, not in the scary mass exodus they always try to imply.
So nothing?
With 95% income taxed and tax on illiquid assets, you’d see a mass exodus…
Don’t argue against things I didn’t say.
You don’t see an exodus of homeowners for their property tax.
Why is that? Hmmm? Is it the case that rich people wanna be where money is? And nice services are? Where the culture is? Where the art is? Where their family is? Their friends? Their children’s life?
Show me a study that unequivocally shows that raising taxes leads to mass capital flight. I haven’t seen one yet. At best, its mixed.
They say this about minimum wage “you can’t raise it to $15 business will leave and go under!”
And every fucking time states or cities increase the minimum wage, that doesn’t happen.
Stop fucking carrying water for the rich
https://lemmy.world/comment/23949258
I literally quoted you? Just straight up lying now. You sir can fuck off