If the billionaires are upset it’s a good sign you’re doing something right.
Exactly. Most policies are in billionaire’s favors, since they fund lobbying groups and super pacs. They mostly stay quiet about everything because they’re getting their way behind the scenes. If they’re complaining outright, it’s an absolute win for everyone else
Or, as is often the case with Biden, promising to do something right with the odds of actually going through with it being slim 🤷
Don’t break their bubble, it’s the only thing holding this thing together.
Yeah feels like every weekend he has promised to make Israel cease-fire by Monday since “Genociding with Biden” became a meme and somehow hes never been called out on that huge glaring lie, in fact I am often told to quiet if I bring it up.
Crying billionaires are a sign of society healing.
A healthy society has zero billionaires.
Let’s go further with these taxes.
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The guillotine was mostly used after the revolution, to kill political opponents of the ruling party that took over. More of an animal farm type deal than a revolution.
Hey now, we can still do both
It’s nuts for them to rail against this because when Biden said 25% minimum, I was like, “that’s it‽”
I get taxed at 25% already and I’m making $125k.
25% is nowhere near enough. Anyone making over 400k individually should be taxed closer to 50%.
there should be a 100% tax for anyone who has a billion dollars or more.
That level of wealth is not compatible with existing in a society.
Taxing the rich is great and all, but it still doesn’t solve the issue of gov spending being completely and utterly shit. We spend more on healthcare per individual than any other nation on the planet. We don’t even need to tax the rich right now and we could have single payer. The idea that taxing the rich is needed to pay for services and safety nets is silly. We’re the wealthiest nation on the planet, we can already afford all of the things our citizens need, we just have a gov who doesn’t know how to properly spend the money it already has.
Oh, its you again.
Showing up yet again to reply to imaginary comments instead of the topic at hand.
Way to contribute just like last time…
Such a boomer reply.
Lol yes because someone else has a different take than you on your dumbass comment must be a boomer ok kid
Raising tax revenue and funding some variation of single payer health care or socialised medicine are not mutually exclusive.
Cool, where did I say they were?
Agreed, but I guess you’ve got to start somewhere.
Where I’m at it’s like anything over 95k is close to 50%. 25? Must be nice.
It is in most places outside the US. But it is still the same problem: regardless how high the official rate is, there are way to many loopholes to avoid paying them. It does not help if the tax rate is 80, 90, or even 99% if they get around paying it altogether.
400k is rich in some areas but certainly not everywhere, that’s way too sharp of a curve. Someone making 400k is already taxed at 35% federally plus whatever state and local so probably close to 50. The real issue is that after 500k the rates don’t change where it should be increasing logarithmically. But really after a certain point there are way too many things that the rich do to reduce their tax burden that just aren’t available to everyone else, that 100k or 400k person is in reality paying a much higher percentage than someone making a million a year much less billionaires.
Why did you copy and paste this exact comment from someone else elsewhere in this thread…?
What? I didn’t
Hmm, I don’t see it anymore. There was another post from another user that was word for word the same as yours, but slightly newer. My apologies, my client must have bugged out.
Lemmy is a little wonky, no biggie :)
Don’t like it? Fuck you. Your greed is unconscionable and your hoarding of wealth is amoral and disgusting. In conclusion, fuck you.
Yeah, but what if they find the right commercials to throw at us during election time?
Billionaires can suck my dick and fuck right off into the sun. This shit has GOT to fucking stop! 100% tax on anything over $200M, and I am being real generous with that.
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You have to leave incentives for people who are the ones who are going to create the jobs for all those people trying to climb the ladder.
Oh my god, FUCK OFF
b-b-but, nobody will want to do good work if they don’t have the extremely weak opportunity to enrich themselves by taking advantage of other’s labor!!!
Biden claimed in his State of the Union address that the 25 percent minimum tax on the ultra-rich will raise $500 billion over 10 years. “Imagine what that could do for America,” he said.
Maybe I’m not good at comprehending numbers at this scale but does this seem kind of low to anyone else? I mean, that’s a lot of money in absolute terms but the government spent $6.3 trillion in FY 2023 alone.
We should still do it obviously. Don’t let perfect be the enemy of good and all that.
No, it sounds correct. Taxing billionaires’ income is fine, but the real money would come from actually taxing corporations more.
See, they only have income in certain circumstances, so the amount raised from an income tax would not be very high. You can raise corporate taxes by a little bit and get much more.
That way the income is taxed before it gets to anyone. It doesn’t matter if they have a billion dollars. Plus it encourages investment in the company (wages, new products, better quality, etc.) because business costs are tax write-offs.
I’m surprised it’s that high. The reason their effective rate goes down, is getting money by ways that are either special cases in the tax code or aren’t “income”. Until you fix those, wealthy people will still have the lowest tax rate.
…although apparently the tax rate for long term capital gains is already 20% for the wealthy. I didn’t know that
$500 billion is a sizable chunk of that $6.3 trillion, and it’s still only a 25% tax rate, and then only the “ultra-rich.”
If one considers something more reasonable, like a 70% tax of income over $100,000, then you’re talking about more substantial amounts to really start catching up to top economies.
500 billion over 10 years is not a sizeable chunk of a single year total.
They spend more than that a year on “defense”.
Boohoo
Apparently it’s not just Billionaires who hate this, but also Russian trolls pretending to be leftists. Who would have guessed the two would be allied?!
Billionaires should not exist. Honestly, I’d expropriate them.
I don’t get the desire to violently dispose of billionaires; it’s a status defined by wealth, we just gotta take their money and they stop being billionaires. Problem solved, right?
Well there is the issue that to become a billionaire one must exploit and abuse tens, hundreds, thousands of people? Not to mention second order effects from their actions like bankrolling politicians that strip workers rights or safety standards for example, which impacts millions of people. Some people want to see some justice I suppose.
Some people just inherit it. Still unjust, and should be taken away, but is it worth killing over? There’s bad people at every level of wealth, I don’t see how slaughtering the wealthy makes any more sense than the death penalty for anyone else. We need to take away their money and help them to be better people. Recovery from the disease of greed is possible and necessary.
To the moon!
For $10,000 a year, billionaires can pay me to give a shit.
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Did you expect an addict to thank you when you take away their drug cold turkey? Billionairism is a mental disorder, like addiction, and it should be handled with the same care. The kind of care that only billionairs can afford in the US, I must add.
Music to my ears? Oh wait, he could lose the billionaire vote. Like all 100 of them.
Problem isn’t the billionaire vote, but rather the billionaire dark money being funneled to the other guy instead. Which I’m sure they’re all doing anyway, but they could decide to do it more. Which makes it ever more important for grassroots efforts to get the vote out so that we can eat the rich in spite of their efforts to dodge our hungry maws.
😭🤌🎻🎶🎵
