General Billionaire cries over 2% wealth tax

[jason73]

No I wasnt 15 years ago

Congrats on bringing totally unrelated info into every thread

i think its pretty relevant . if you can get sucked into some shit like that it makes me look at everything else you say with a level of skepticism . you definitely believe some odd things

 

[jason73]

i think its pretty relevant . if you can get sucked into some shit like that it makes me look at everything else you say with a level of skepticism . you definitely believe some odd things

not trying to be a dick or anything but that is the straight up truth

 

[Toelocku]

i think its pretty relevant . if you can get sucked into some shit like that it makes me look at everything else you say with a level of skepticism . you definitely believe some odd things

Well that hurts bro...how will I sleep tonight?

 

[sparkuri]

Who are u to say it's to much?

In my scenario healthcare would be "free"

If you think 50mil isnt enough you need to reevaluate broham

Free healthcare?

One of 2 things my dad taught me.
1. NOTHING in this world is free.
2. You can't please everyone.

 

[Toelocku]

Free healthcare?

One of 2 things my dad taught me.
1. NOTHING in this world is free.
2. You can't please everyone.

You missed my " and you're right about #2

 

[Deleted member 1]

how do you justify 100%

I don't even worry about the justifying. I just wonder the goal. Like what happens if someone makes 50 million? @Toelocku hopes they stop expanding projects or....??

I suspect most of these guys get their rocks off just seeing if they can do it. Bill Gates and others are happy to give all their money away when they're dead so it isn't just about accumulating or they would get a billion dollars and quit.

But then I have I wonder if someone can get zero do they still have some "points" to show their output was successful???

 

[sparkuri]

If you think 50mil isnt enough you need to reevaluate broham

Enough, for what?
To live?

You don't need anything but food shelter & water to live, and the chances of dying are 1/1.
This is about freedom and aspiration.
The government wants to take money because they were elected and couldn't make it the way Joe Blow did, so they elect to steal it.
That's it.

 

[Deleted member 1]

Its 50 mil not billion because more than that leads to inordinate influence and monopolies

You're sounding less arbitrary by the post. Teach me about the 50 million. Where are we getting this glitch appearing at that point??

 

[Deleted member 1]

Are u asking me what is my ideal or what do I think can actually get done?

Ideal. I'll legitimate just want you to put your thoughts about a wealth tax in one post so I can quit chasing. I'm interested in supporters of a wealth tax telling me why it's good and needed where other taxes fail.

 

[jason73]

what incentive does someone have to keep earning money when they hit the 100% taxation point? if they work past that point they get zero. if they dont work they get zero

 

[MMAHAWK]

I don't even worry about the justifying. I just wonder the goal. Like what happens if someone makes 50 million? @Toelocku hopes they stop expanding projects or....??

I suspect most of these guys get their rocks off just seeing if they can do it. Bill Gates and others are happy to give all their money away when they're dead so it isn't just about accumulating or they would get a billion dollars and quit.

But then I have I wonder if someone can get zero do they still have some "points" to show their output was successful???

Star Athletes will retire after 2 seasons
Musicians will make 1 hit record
Movie/television actors,directors,and producers will move on after 1 huge box office success

 

[MMAHAWK]

what incentive does someone have to keep earning money when they hit the 100% taxation point? if they work past that point they get zero. if they dont work they get zero

At least Oprah would have disappeared 25 years ago

 

[Deleted member 1]

Star Athletes will retire after 2 seasons
Musicians will make 1 hit record
Movie/television actors,directors,and producers will move on after 1 huge box office success

My first reaction was to tell you that no i Don't think they would. Being the biggest and the most popular is a big deal. But then I thought about making zero. Just zero. I think that would demoralize me in a way that 90% wouldn't. I'm not advocating for 90%, But I think in one case it feels like momentum to overcome and in the other working for someone else. So yeah I think a lot of people that normally aren't that focused on the money because there's so much always there would suddenly factor that in pretty hard.
But stars and athletes are pretty rare.
I wonder how it would affect people who have all these different types of outputs, not just selling copies of an artistic production.
Like what does a real estate mogul or CEO or whoever do at that point. Do they stop? Does that open the market for others??

 

[MMAHAWK]

My first reaction was to tell you that no i Don't think they would. Being the biggest and the most popular is a big deal. But then I thought about making zero. Just zero. I think that would demoralize me in a way that 90% wouldn't. I'm not advocating for 90%, But I think in one case it feels like momentum to overcome and in the other working for someone else. So yeah I think a lot of people that normally aren't that focused on the money because there's so much always there would suddenly factor that in pretty hard.
But stars and athletes are pretty rare.
I wonder how it would affect people who have all these different types of outputs, not just selling copies of an artistic production.
Like what does a real estate mogul or CEO or whoever do at that point. Do they stop? Does that open the market for others??

They stop or move to another country.

 

[Deleted member 1]

You nob heads argue about anything.

Truth.

Sports - Animal GP Opening Round 2 - Koba vs White Rhino

 

[SongExotic2]

Truth.

Sports - Animal GP Opening Round 2 - Koba vs White Rhino

Jobs would stab that rhino in its beak

 

[Disciplined Galt]

Truth.

Sports - Animal GP Opening Round 2 - Koba vs White Rhino

Real winner was MEGALODON

 

[Deleted member 1]

Who are you to tell anyone what's "enough"?
How do people even come up with this?, lol.
It's comical.

Yeah ok, here's a scenario.
Husband "works the system" for 40 years, has 6 kids, adopts a pile.
He has 50 million dollars and a nice 10 million dollar house on the California Coast.
He decided to retire, his wife get's a disease, treatment is 4 million a year just to fly her in and out of pain.
One of his sons who still lives at the house gets in a car accident(his fault) and he lapsed his insurance, Tort claim filed, he loses, awarded 10 million by the court, which is taken from dad.
In one year, his 40-year empire has been reduced 25% and he hasn't even been scuba diving in the ring of fire.
And these are likely, common occurrences; everyone has to deal with this kinda stuff, and we haven't even gone into year 2 or touched on the other 5 kids, or the next 20 years.

These thought processes are the processes, to me, of those with a lack of vision or sense of entitlement.
Or it's a politician trying to get elected, because no one else says this kinda shit.

Both @Kneeblock and @Zeph are going to have an aneurysm reading this. I'm not joking. This is the end stage capitalism they are describing and you referencing to support against their preferred interventions.
Millionaires, disease bankruptcy, Tort claims...

You are just looking to break the site aren't you?!?

 

[sparkuri]

Both @Kneeblock and @Zeph are going to have an aneurysm reading this. I'm not joking. This is the end stage capitalism they are describing and you referencing to support against their preferred interventions.
Millionaires, disease bankruptcy, Tort claims...

You are just looking to break the site aren't you?!?

 

[sparkuri]

Alibaba got $31,000,000,000 sales in 1 day. It is the sales that make people super-rich.

If people support small businesses, billionaires will not have Billion $$$$$$$

The fact that people do not sacrifice their wages at the benefit of small businesses should tell you, sociologically speaking, everything you need to know.

 

[Nemo?]

Realistically small businesses were killed in the 80’s early 90s and our generation are bringing them back

 

[b00ts]

This country has a fascination with vilifying rich people. The fact is their success has little to do with other people's failures.

In 2018, the richest 1409 taxpayers paid more income tax than the bottom 70 million people.

That tells me 2 things.

1. There are some rich ass motherfuckers out there.
2. And it certainly looks like they are paying way more than their fair share.

I'm more concerned with how the government spends tax money than I am about who is contributing.
If we force the rich to pay even more money - that money will largely be pissed away on stupid bullshit or simply pocketed by politicians.

You mean those in Washington shouldn’t be millionaire off our tax money? How dare you.

 

[Deleted member 1]

Realistically small businesses were killed in the 80’s early 90s and our generation are bringing them back

By what measure are they coming back?

 

[Deleted member 1]

I've been reading about Warren's wealth tax and others. I remain skeptical that a wealth tax will remain at some very high cut off such as 50 million. And I'm still not sure why stock/watch/car/art/yacht holding has to be taxed yearly instead of just raising income, estate, and capital gains taxes to sufficiently high amounts to capture targeted revenue at the times of those transactions.

Either way, this is the worst article on wealth tax that has ever been written in history:
Bloomberg - Are you a robot?

 

[hkaytams]

This article made me laugh already after the second paragraph. The authors state that billionaires won't want to hold assets in their portfolios because of the 2% wealth tax. It's unlikely that the final amount will reach the 50mil you mentioned here. People don't like to part with money, yes, but money is a symbol, a social contract. Any innovation can be justified so that in a few years people won't remember the reasons for their dissatisfaction. I agree that an income tax would be more logical than a wealth tax, but I still have many questions for the owners of dozens of luxury estates in every corner of the world. Maybe envy speaks for me because I'll go to a financial planning specialist with capital that doesn't reach 50mil Estate Planning | Portland Financial Advisor.