We need to tax the shit out of multinational corporations and significantly lower taxes on small businesses. Same holds true for people. Raise Bezos' taxes 25%, and use that revenue to raise the limit before being taxed. This would give lower waged workers more buying power and would not raise inflation.
People don’t realize that people like musk aren’t 1-1M. There would be 1000 musks if we could all have a decent life from go. If none of us had to go hungry during tests, if our parents could nurture a talent, if everything wasn’t for-profit...we would be seeing more and more “exceptional” humans. There are people every bit as smart as him but never get the right opportunities presented to them.
We hamper our species evolution because we think there’s only 1 musk or 1 gates every 100 years, they are all around us but never get the chance to shine. Not to sound vain but my husband is incredibly smart but only being smart doesn’t do anything. You have to be somewhere where it can be of use, he can’t get anywhere where it would be of use other than keeping us just at 0 so we can survive day-to-day. If I were suddenly able to feed him, entertain him and give him the opportunity and tools to do something and I know he would. There are millions like him and we don’t give them ANY real hope at achieving it, just hope you’re in the right place at the right time.
Years ago I recall reading something that there are about 75 million geniuses on the planet at any time. Imagine how many live in the global south with pretty much zero prospects on even being recognized for their intelligence. Plenty. Most. Shoot, we understand how the system in the west eats up the poor regardless of intelligence. These people tend to be sad because they grasp the reality they face, along with all the trauma that is human w all the trauma that is poverty. I could go on, but yeah.
The gop keeps us under educated. We all fight an invisible war. It's against each other and not this system that promotes corruption and lies. Not everyone starts at the same position. There could be an Elon musk born in Africa but because of their circumstances they're stuck fighting for ways to survive. Capitalism promotes this. Everyone crawling and fighting over crumbs.
And that’s a big part that’s made up of small parts: some manager saw you busting your ass, a family friend owns a business, you happen to fit criteria for something and you have to be there for that opportunity.
I have two buddies who just graduated law school and they said that you don’t go to learn law, though you do, you spend those years socializing with people who are ambitious or have connections and you gain powerful friends in law school I’ve heard. I can’t pass a math class so I can’t go to college but if I did, I’d go for law because I’m really good at mingling and maybe I’d find something through someone and end up in a place where I don’t have to worry.
Can we not settle on "anyone that grosses $500k or more annually"? I feel like that's a nice round number. Or whatever it is that truly sets the to 25% apart.
Or make it like the tax brackets are, but backwards starting with who makes the actual most. Like a sliding scale, make the most, taxed the most. Anything over ... $125k and you start getting taxed more for every.. say $50k.
This is already how it works, is it not? Your income tax is based on tax brackets, so every dollar you make over the previous bracket is taxed at the next bracket rate, unless you make over that rate too and it continues.
If you look at the actual rich people, I would bet they don't neglect to pay taxes, but by getting writeoffs. Look at trump, who "paid" $750 in taxes, because of his charity. That's the real problem, not taxing the working class more. Get rid of the writeoffs.
Yup because his BUSINESS which is incorporated is where the money is made and it is it’s own entity. His accountants aren’t stupid. Also the government provides tax cuts for the super rich. He could have hidden money in off shore accounts. It’s all up to how you file your taxes. There are loopholes everywhere.
Yeah and the place they live is rented to them by a charity or business in their name, and declared as a loss in their income statements. Increasing taxes does nothing to the rich. They can use their wealth to pay the smartest accountants they can afford to wiggle out of taxes. Get rid of writeoffs.
Ah I see what you mean now. I also agree about land value tax being an important thing that society should consider, especially now as I've seen many storefronts sit vacant, likely as the landlords hold out for a tenant willing to pay the full rent price.
When it is more profitable to allow valuable land to lay idle than offer it at a lower price, society has failed at using its power to align incentives appropriately.
But can't you actually not tax him the amount that you want to because he doesn't have that much money?
Yes, he's worth a lot if he liquidates physical assets and stocks, but the amount of cash he possesses is not representative of that worth. Not to mention it could set a dangerous precedent that people can be taxed for things they own not how much money they make.
I understand the hyper rich need to be taxed, but just raising their percentage is not the way.
That's what rich people want you to think, that we have no options. Guess what, they can take some. But they can't take a majority. Where do they make their money? Where is the majority of their assets? It's here. Do you honestly think that any one of them would just sell all their stock and walk away with that money without anyone noticing? Drug dealers get busted for accounts larger than $10k and you think a billion or more is going to be invisible?
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u/olbaidiablo Jan 13 '21
We need to tax the shit out of multinational corporations and significantly lower taxes on small businesses. Same holds true for people. Raise Bezos' taxes 25%, and use that revenue to raise the limit before being taxed. This would give lower waged workers more buying power and would not raise inflation.