Comment on Saw this on Facebook đ
ScrotusMaximus@lemmy.ninja â¨1⊠â¨year⊠agoThatâs why the quiet part is to borrow against the assets in perpetuity. No tax on money you take out in loans using your investments as collateral! This is effectively a home equity loan for the rich. Now, you canât keep paying interest on your growing loans forerver. Why, Scrotum Maximus, that would be unsustainable! Not to mention that baby faced intern fresh out of grad school with 300k of student loans to be repaid keeps pointing out your interest only loan to his supervisor and posting on antiwork.
So move onto step two! You and your other insider buddies are going to do a little pump and dump action. For this phase of the plan we are going to crash the market, and write off the impaired value of our investments and debt. Scrotus, that sounds complicated, you might say. Sure, maybe for a peasant such as yourself, it might be. All we have to do is make our investments worth less on paper! A little bad press, some failed deliveries, a enshittified platform, a war breaks out on the wrong people. Nothing is actually changing hands. That would be silly. This has the added intentional bit of killing off the bank or investors we owe money to, figuratively of course. Weâre not actually killing anyone, mind you. That would be a crime and as we all know crime is only for the poors.
A year or two passes. We are on our yacht living off the loan money. We are in the final phase of our plan: no one bought the snake oil, the enshittified apps arenât making ad revenue and that war sure hurt that new market. Our investments are worthless and we canât borrow anymore money to pay for the yacht diesel or scantily clad deck boys. Gosh darn it, Scrotus, now what?
It just so happens the bank that loaned us money had to be bought out by JPAmerica Bank with taxpayer bailout money thanks to the votes from our friends đ in government, and good news! Theyâre willing to work with us to refinance the loans because an investor bought our shitty debt for pennies on the dollar! What a sucker, amirite?
No tax on loans! The poor hate this one trick
This message brought to you under an Apache MIT BSD license to distribute.
tdawg@lemmy.world â¨1⊠â¨year⊠ago
How do you feel about limiting loans against assets and total wealth based taxes?
In general I try to avoid talking about these things because people get touchy and act like the situation is hopeless. Captial Gains taxes does have an affect and it does improve the situation. And obviously what you brought up are clear concerns with how it is often setup today. So Iâm interested in how we could continue to make things better in that regard
unfreeradical@lemmy.world â¨1⊠â¨year⊠ago
Iâm just spitballing here, but maybe the solution is just, like, you know, tax the richâŚ
I mean, like, really tax them, all in, you know, no bars, just get in there and tax the hell out of them.
Whadâya say? Think it might work?
tdawg@lemmy.world â¨1⊠â¨year⊠ago
Yes thatâs why I said âtotal wealth based taxes.â If you want to make a meaningful contribution to the conversation maybe actually read what other people are talking about
unfreeradical@lemmy.world â¨1⊠â¨year⊠ago
I get it. You want dialogue. Nothing hasty.
There are lots of angles to consider, and one thing for sure is no one ever gave them much thought.
I for one think it would take at least two more decades of development and planning to achieve any kind of tax code that is more sensible and equitable than the one currently in place.