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Comment on A one-time 5% wealth tax would bring Silicon Valley’s billionaires’ wealth back to where it was just 31 days ago

lIlIlIlIlIlIl@lemmy.world ⁨1⁩ ⁨day⁩ ago

They freak out about this because their wealth is in holdings and isn’t liquid. They leverage debt and play these games to avoid paying their share the freeloading welfare queens that they are

This is probably more painful than “it’s just 5%.” And I love that for them

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fonix232@fedia.io ⁨1⁩ ⁨day⁩ ago
It also sets a precedent - why not an annual 5% tax? why not 50%?

That's why they're afraid of it. It's not just the liquidity, because 5% they can easily liquidate without affecting any of their hedged-leveraged debt coverage.

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- Zachariah@lemmy.world ⁨1⁩ ⁨day⁩ ago
  yeah, I think it’s more about power than money
  
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  - impairedimperator@lemmy.zip ⁨1⁩ ⁨day⁩ ago
    Money is more about power than money once you’re over ten mil
    
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    Zachariah@lemmy.world ⁨1⁩ ⁨day⁩ ago
    totally
    
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- chocrates@piefed.world ⁨19⁩ ⁨hours⁩ ago
  Yeah we should tax billionaires until they become “only” millonaires
  
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