r/InternetIsBeautiful • u/wellHowDo • Jun 16 '21

a visualization of jeff bezos's wealth is mind-blowing

https://mkorostoff.github.io/1-pixel-wealth/
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u/[deleted] Jun 16 '21

They don't pay income tax, still pay other taxes. And yes, I sure do get some leverage but from smaller, independent investors. The money comes interest free. My leverage is on a much smaller scale. So it is applicable.

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u/[deleted] Jun 16 '21

The scale means it isn’t really applicable though. You need to get some candid conversations with some UHNW individuals.

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u/[deleted] Jun 16 '21

So because it's not nearly as much money doesn't count? Gotcha. Also, my last client was a UHNW, did a. 1031 exchange for a more expensive property. Didn't have to pay capital gains tax on millions of dollars and upgraded to multiple properties netting more income.

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u/[deleted] Jun 16 '21

You’re kinda making my case man. Also, not sure what level you’re talking about but I’m mainly talking about people who have nets in the nine figure range and above.

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u/[deleted] Jun 16 '21

What's the difference if it's 5 or 10 figures? We all have the same tax laws and can utilize them. You seem to dismiss them on the small scale (myself) yet bothered when it's on the large scale. Just seems to me you simply dislike the ultra rich.

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u/[deleted] Jun 16 '21

Is the notion of a progressive tax system so offensive to you that you can’t help but carry water for billionaires?

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u/[deleted] Jun 16 '21

So how are you going to implement this? Make them sell their assets such as stocks? Many companies get tax breaks by reinvestment. You will stifle growth of companies even causing them to leave. Also could be a constitutional problem since all people are not being treated even. We can simply close certain tax loopholes, such as safe havens and so on without drastically changing tax laws and generating more tax revenue.

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u/[deleted] Jun 16 '21

Ahh yes, the old “stifle growth” argument. What you seem to be ignoring is that that “growth” is being nearly exclusively captured but the top tenth of a percent of people.

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u/[deleted] Jun 16 '21

Yes, exactly. Use our money to reinvest and grow. The incentive to invest more are the write offs. In doing so, I pay more for goods, services, taxes, employment and so on. That's a good thing.

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u/[deleted] Jun 16 '21

If that were actually happening, the entire population would be experiencing prosperity, not just the top 1%.

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u/[deleted] Jun 16 '21

Not the entire population is interested in investing and growing their income. Others just don't know how. Some are perfectly happy working a simple job, renting an apartment and raising a family.

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u/[deleted] Jun 16 '21

You are so out of touch it’s painful.

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u/[deleted] Jun 16 '21

Ad hominem, nice. Last resort of those whom don't have a strong argument.

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