100% tax on any wealth over 10 million.
Comment on SpaceX confidentially files to go public at $1.75tn, reports say
Powderhorn@beehaw.org 2 days ago
I have no specific issue with millionaires. You work for 40 years and save up a next egg so you can survive retirement. A million or two is totally reasonable for the golden years.
Billionaires, on the other hand? They don’t need all that money, but they always want more.
And the fact that we could see Musk become a trillionaire? Well, spellcheck says that isn’t a valid word, which is usually indicative of something so far from normal that even a computer can’t comprehend the scale.
He could literally send the full trillion dollars to the U.S. Treasury to cover the tax breaks for the ultrawealthy passed past year and end up a pauper billionaire.
RamenJunkie@midwest.social 1 day ago
real_squids@sopuli.xyz 1 day ago
For people who believe money doesn’t really exist, they sure do want more and more of it.
When it’s just a number on a screen it’s easy to treat it like a high score in a game. I think they’d still be that way if it was all physical though
Soulphite@reddthat.com 2 days ago
I agree… what the fuck is the difference of 10 billion and 110 billion?
If you had 110 billion you could spend 5 million per day for 60 years… why the FUCK does a single person need that amount of money??
Powderhorn@beehaw.org 2 days ago
Yachts. Lots and lots of yachts. As though you can ride on more than one at a time.
Soulphite@reddthat.com 2 days ago
Two yachts at the same time, man.
MagicShel@lemmy.zip 2 days ago
No lie, if I had that kind of money I’d pay my taxes in full and fuck off to the Bahamas with an entire year of calendar models, and still have money to hook my wife up with all the cabana boys she wants, and still have enough to create scholarships for huge numbers of kids to go to college and still have enough to invest in green energy and vaccines and low-cost insulin and still have enough money to pay for food and medicine assistance to underdeveloped nations and still…
Well you get the idea. It’s a ridiculous amount of money.
Powderhorn@beehaw.org 2 days ago
You only need $1 million for that. “Hey, Peter, check out channel 9!”
mrnobody@reddthat.com 2 days ago
I don’t know the limit to how many FDIC accounts one is allowed to have open simultaneously, but I know the insured amount of $250k USD per account. I feel like the interest alone in a few accounts would be reasonable enough for the average American to live off of.
Powderhorn@beehaw.org 2 days ago
If you’re a billionaire, you park your money in offshore tax havens and don’t worry about FDIC limits.
TehPers@beehaw.org 2 days ago
Depending on your investments, the interest and dividends off a few million dollars should be able to sustain someone entirely on its own while still growing in value over time.
You don’t need to be a billionaire for that. It feels like the tax brackets need to go up to 100% after around a million or so in income.
Powderhorn@beehaw.org 2 days ago
So, slightly above the 1950s marginal tax rate that gave us the society the GOP wants to drag us back into without taxing the rich? That’s a stool with one leg.