If you were immortal and couldn’t figure out increasing value assets or compound interest after a few thousand years of watching other people do it, you deserve to be poorer than Elon. Even vampires figure it out after a couple hundred years.
It is the ethical thing to do to execute these fuckasses. Laws be damned. They wrote them and could kill any one of us and face no repercussions. A one sided social contract is just a prison. You have nothing to lose but your chains
You got it, man
We should’ve listened to Andrew Yang.
Elon’s net worth has almost tripled since 2021.
If you made a dollar a second for 25,000 years, you still wouldnt have as much money as elon musk
But it’s not real money! 😭👅💦🥾
I just want them gone, i dont even care about the taxes.
We are so far past “taxing” them. They need to be stripped of their wealth completely, not lose some extra 5% on the next haul.
How about 95% on everything beyond 10 Million?
I’m for consumption
I say kill them, especially the billionaires who are also chuds, then tax the surviving billionaires
Close the “earn, loan, die” loophole to avoid taxes on unrealized gains. If you list an asset as collateral for a loan, then it is immediately taxable as if it were the same value.
Also, every year, we should redistribute 50% of the wealth of the richest person in the country. You get a ticker-tape parade, a nice statue, and the honor of knowing that you are helping millions of people without making any impact on your lavish lifestyle.
There are a lot more things we can do, but I feel like these would be two pretty easy starting places to curb the billionaire problem.
Oh, and we should also make it so that private equity and investors are paid LAST in a bankruptcy. Tired of good companies being bought ransacked, and folded so a billionaire can make a few mil from robbing employee pensions, shortchanging contractors and stiffing suppliers.
It’s going to come to that sooner than we think.
I thought this years events would have done it, but people are still waiting
Or nothing will change for the better because we engage in this childish and now apparently murderous nonsense online instead of doing anything practical.
Fantasizing about killing billionaires is cringe because it almost never leads to anything practical. Actions speak louder than words
The people who talk openly about murdering us with their policies, budget proposals, and lunatic campaign funding are having people talk about murdering them!
O’ the humanity!
You can tax their existing wealth. For example an annual tax for the average wealth you held for the past year for people whose wealth exceeds a total 250 million in all assets
At this point we need to tax their wealth at a rate of like 90% or higher. Any laws that pass with the word “tax” in it is not going to go close to that number. We need to use harsher vocabulary and treat it as the crime it is imo.
Agreed. From ~1930 to the mid 60s, we were taxing almost everything over a certain amount (90+ %). In addition, corporate tax rates were significantly higher.
Besides the point really, we need a plutocrat tax/wealth tax, not income tax reform. It’s one of the few direct methods to redistribute the wealth theyve extracted from the 99% and decrease inequality.
Tax wealth, not workers!
This was actually the norm during the so-called “golden age of capitalism” in the US funnily enough. The higher margins of the wealthy were taxed upwards of 90% and what do you know, it led to prosperity.
The massive problem with that is that they’ll just move to a country that taxes them less.
The country wins by getting some of their money, the billionaire wins by keeping most of their money, everyone else from their original country gets fuckedYou see, that’s being said all the time as a counter-argument. But it has been proven to be untrue. First of all, there are exit taxes in most countries, the USA is pretty gung-ho on that for example. Also, the rich are also just people, that have families and friends. They won’t move just because they pay a bit more in taxes. People are lazy and like the environment they’re used to. Bonus if they have kids that don’t want to leave their friends behind. Lastly, where to move to? Many of the EU countries are the countries with the best living conditions world wide. Granted some of the criteria like accessibility and affordability don’t apply to the rich, but freedom of speech, general freedom, state of infrastructure, crime etc. mostly apply to them as well. And there are very few countries in the world that can match. Those that do are also expensive and or far away or have other issues.
Fair points.
That is no problem at all! Get those motherfuckers out of the country if they are just going to suck it dry.
That’s fine, let them extract the wealth of other countries until they learn their lesson. They don’t add value to society, that does not equate to a loss. It would be ridding ourselves of economic robbers.
That’s the same logic as saying “if we kick the snake oil grifter out of our town then he’ll just go to the next one!” Good, maybe they’ll kill him after they figure out he’s just a thief since we didn’t have the gumption.
Nah that’s not the same. Take lessons from history. Get the money back while you can.
Don’t protest… Unionize AND STRIKE!!!
We are beyond tax, burn the fuckers at the stake
Dumbass should have invested.
Compound interest is your friend.
I fully agree with the pic you posted, but you sent it to the wrong commenter.
???
Should’ve shorted Big Ice.
Elon musk would be in jail and broke by now if the SEC could do its job
But that would hurt the earnings of the mega wealthy, clearly can never be allowed to happen.
Idk we’ll see what happens when the rich people start eating themselves. I’m actually excited for this stage of capitalism.
May be something like Russia after the fall of communism or like Mexico with all its cartels and private armies?
Ah yes famously wealthy countries, the Soviet Union and Mexico, who went to hell when they stopped catering to the ultra-rich…
Actually, Russia has vast natural resources, but much of the wealth is concentrated in the hands of oligarchs. The post-communist period in Russia was marked by violent power struggles between oligarchs, often involving private militias or hired hitmen targeting rival businessmen. Perhaps it just wasn’t as visible in the US.
BTW, do not forget that most rich men in the US (Elon, Mark, Jeff) are rich on paper (stock market, company shares), while Russian millionaires have real physical control over resources or industries (eg Vladimir Potanin - rare earth elements, Vagit Alekperov - oil, Leonid Mikhelson - gas).
Or the FBI (public emails where he begged Epstein to let him into the parties; also the election interference), or the FTC, or the EPA (Tesla plants piping battery waste into water supplies)…the list goes on
Which was the whole point of DOGE
Some clarification. Those billionnaires don’t have that much money. It’s the “valuation” of their assets, so it’s even more fictional than actual money. Which means they can practically set to anything with enough hype, and not pay any tax, but can convert some (only some) of that fictional money to real money by getting a bank loan against it, again, tax free.
What I’m saying is, we need to get those funny number back to ground truth. Melon wants SpaceX valued at 1.25 Tn or something. Let him pay taxes over those valuations and see how valuable they really are. After all, anyone with a 800bn company should be able to afford some taxes on them, right? So fucking tax them.
You can’t tax valuation
Tell that to the property taxes I pay on my house every year. They manage to define a value even though I’m not selling and it’s still an “unrealized gain”.
That’s right, homeowners pay on unrealized gains, but not Sociopathic Oligarchs. We should flip that.
That’s the thing about wealth taxes. People argue that they’re unworkable. The truth is that we already have wealth taxes. We just have the most useless style of wealth tax.
Instead of the ultra-wealthy paying the highest percentage in taxes, every home owner pays a similar rate. But, that means that the people who have most of their wealth tied up in their homes pay the highest effective rate. Even if it might be hard to come up with a perfect wealth tax, it would be extremely easy to come up with one that’s more progressive than property taxes.
“You can’t tax valuation”
Fine, the government gets 40% of your share options.
“You can’t tax valuation”
Yes you can. Capitalism just doesn’t want you.
If they are using the “unvested” assets for something, like getting a loan with them as collateral, then we should treat it as if they realized the gain.
If you use stock as collateral to get s $1mm loan, that should be treated as income.
If they then sell the stock and get taxed again… I don’t think I really care.
We tax valuation all the time! Property has a valuation and we levy taxes on how much it’s worth.
One time? Every year?
Just like Income tax. When they vest.
I think that doesn’t work well due to price fluctuations of the stocks and avoiding double taxing, but I don’t understand stock options and current tax laws enough to be confident about that.
price fluctuations of the stocks
Average price over the last 30 days.
avoiding double taxing,
Submit a claim for repayment.
Average price over the last 30 days.
There are so many issues with this idk where to start. Maybe with: not all stock given as compensation are publicly traded yet. There may be no average price yet when they vest.
PS: Also, the original comment proposes taking 40% of the shares, not monetary equivalent which I originally misunderstood as well. So neither of our comments is really rellevant.
not all stock given as compensation are publicly traded yet. There may be no average price yet when they vest.
This doesn’t stop real estate being valued for tax purposes. Use the same approach - proxy valuations.
taking 40% of the shares
Yeah, that would just be nationalisation. After 5 years the government would own 90% of all businesses.
avoiding double taxing
Who cares? Even double-taxing the billionaires is still the moderate compromise position, compared to the guillotine.
The guillotine is a dumbass fantasy that prevents people from having to think about real options while cosplaying on the internet.
Who cares? If the goal is the universal application of the law, that goal is not obtained when you use the law to apply to people you don’t like.
That’s the point. If you get paid $10 at 30% tax the government takes 3 of the dollars. If you get paid $10 and 10 options, the government takes 3 dollars and 3 shares (when they vest). Simple as that.
Deciding what to do with the shares as the government is a hairy problem though.
Ok, I see what you mean, but now you have government holding stocks with 0 idea if they should cash out or hold. Both cases could result in the government loosing out on tax money.
If government immediately sells, and you hold until the stocks are 10x the value, the governmwnt lost out on 90% of the money.
If government holds and you sell, the government stocks can become worthless (e.g. company goes bankrupt) and again lose out on tax money. Plus government needs money in the budget, not stocks.
This is why you usually tax the income when you sell the shares. The loophole is taking a loan against those shares, but if you ask me, the answer is to tax the loan money and make repayments tax deductible. The loan is basically getting the money from selling shares early, so it should be taxed when you get it.
Maybe the shares could go to a sovereign wealth fund with staff employed to try and maximize the value of the fund over the long term?
If they can tax your house based on its current valuation, they can sure tax their stocks based on their current fucking valuations.
Excuse my French, they are not my native language.
Nor are English.
I pay increased taxes because my property goes up in value, even if I don’t sell. Same should apply to shares (to be fair there should also be tax credits when shares fall).
Personal loans against business assets should be taxed. The repayments can then be tax deductible so they are not double taxed. Without taxing these loans, it just creates a tax loophole where you avoid income tax.
As for company prices being inflated, to some extent, who cares? As long as they don’t get a bailuot when the bubble pops, it’s the investors issue.
We get tax deductions on interest paid on mortgages. They should not be getting tax deductions on their full repayment.
The tax deductions are meant to offset the tax on the loan. You don’t get your loans taxed as income so you don’t get full deduction on repayment. They wouldn’t pay less than you overall in my proposal.
Seems like this would be a good place to treat those stocks (and options) as real property and tax them accordingly. With a properly progressive rate on them, we could set the lower end such that normal retirement funds won’t be impacted, with the high end discouraging hording assets.
This is important. More than glib stuff like the meme. When the billionaires talk about “paying their share,” it’s important that journalists and public repeatedly call out that BS. That’s how the average person is going to realize that it’s BS. Simple stuff like not being taxes on the value of their wealth (like average people are taxed on the value of, e.g., their home), and using the “unrealized gains” of those investments to back massive low-interest loans to buy/sell companies, politicians, etc. and fund their lives effectively tax free. It’s absolutely maddening.
This is all ignoring the single simple face that no 1 person should ever have the power over society that these parasites have.
I agree taxing fughazi is difficult. How about taxing the banks when they offer a loan for billionaires against their assets? Then they can pass that down as interest
Confiscate his wealth, and nationalize his companies. We paid for them, after all, they’re ours. They can be operated at the benefit of the citizens.
I highly doubt the USA will copy 1789 France.
No, it’ll likely be worse, if
Thankfully we don’t need to as we don’t have a autocratic government
