That’s 247 billionaires we could have put in the buffet. Never trust a billionaire. Eat them at first opportunity.
And I don’t believe shit of it. I think all their “donations” to foundations and “charity” are tax scams. I’ve seen so many of these deeply immoral and greedy fucks do this and go on charity drives and I’m not buying any of it, I know these people are just scamming us somehow, they don’t do anything out of the kindness of their hearts and betterment of society, it’s all about money.
The worst part is- they are not the problem per se, the system is. The system creates this, capitalism creates this, it promotes these people to the top sure, but if not them then anybody else willing to sell their souls to the literal antichrist.
Capitalism is a malignant cancer and needs to be excised and chemod or we all die. DIE. Civilization GONE. Humanity GONE. Culture GONE.
It’s us or capitalism.
Meh. I actually don’t think its a good idea. You just draw power away from the best of a segment empowering the biggest assholes. Taxes should be progressive and include all sources of income not just wages and the tax brackets should go all the way up to the highest income level. So there should be a level for over 100 billion and another for over 10 billion and over 1 billion and so on. Five figure income should be zero.
Five figure income should be zero? $10,000/year is not a livable income.
They’re saying the tax rate should be 0 for 5-figure incomes.
It’s not a serious income. Why penalise the ppl at the bottom?
oh I misunderstood. I thought “five figure income should be 0” meant “people shouldn’t be able to make even five figures.”
as papastevesy said im advocating for zero tax on five figures which would go up to 99,999.99
I agree with you and your proposal with the exception of 5 figure income having no income tax. At a billion level it might not be so important the difference between one or two billion. But on the 5 digits salaries, the difference of someone making 30k or someone making 80k is definitely meaningful. And as someone being in a comfy point in between there I do think everyone in my bracket should be paying taxes. Not high, but definitely something. Then lower incomes then yes, definitely 0% tax. But the amount of people on 5 digits salaries that are on the higher end is definitely worth having some tax, even when a small amount it already helps support the system with so many.
At the upper end you might be able to swing the more modest of housing and put away for retirement and that is great but it is not like changes circumstances that much. I would argue that opposite that the 2billion is one billion of funny money over what the one bilion guy has and should be taxed along the lines of lottery winnings.
Lol… While gates foundation does do some decent work. Let’s be real it is astroturf operation inherently
Also, Warren already back out.
So this is just a shill op for these “good” parasites.
Read between the lines folks, these people are your enemies
I assume that tax avoidance is also a factor.
Let’s not forget
lobbyingbribery. And since said political influence is ostensibly being bought for the sake of charity, nobody would even blink.Just my theory, mind you. But every one of these charitable foundations is primarily done for tax avoidance. No question. Well that is every one of these foundations except for the one set up by Mr President Tiny Dick. He just can’t resist the temptation of embezzlement. I mean seriously, he bankrupted THREE casinos, and had a judge not just dissolve his foundation, but also bar him from running one of these so-called charitable foundations ever again.
I don’t even want to know how you can fuck up that egregiously. One of those things where you have to wonder if successfully finding understanding of how it happened is going to hopelessly corrupt your own soul for all of eternity.
You wouldn’t expect these clowns to pay taxes that’s what w2 slaves are for. In fact, the treasury should be paying them. Just look at the national debt since 1980s then look at how fat these swine got.
Crux of the everything crisis we got on our hands.
But hey the good parasites paid 15k for a fluf piece, put on a suit and say thank you!
What taxes?
It always has been (points gun)
The only good billionaire is a dead billionaire whose stolen wealth has been returned to the people
also Gates have accused of vaccine colonialism by african countries, hes not doing out of his own heart, its most likely his way of laundering money, plus to distance himself from epstein.
Wowza scoob. Imagine that. Rich people lying.
Just wow.
Sound like rich people ought to be dying
Ruh roh!
Link to report instead of awful Fortune link: Giving Pledge
The prospect of still being billionaires, but with less billions, was just too much to handle
I mean, you don’t become a billionaire by giving money away.
Uh, yeah you do. What do you think charities are for? Helping people?
Exactly why they need to be taxed more.
Billionaires shouldn’t exist to begin with and don’t assume tax money are used by governments for good.
Every country would need to adopt a universal taxation of wealthy individual for increased taxes to work. What I am saying is if US has a 75% for those earning over certain amount. Then other countries have to do the same. If not then Billionaires will run/relocate to the cheapest taxes. Which would be easy since the country they move to will be happy to get Billionaires tax money.
Or. If billionaires leave the USA. We seize their properties and industry in the name of national defense.
That is a slippery slope. If a millionaire is approaching that certain number. They would just leave before it hits their bank account.
What you are describing is straight up Nazi type tactics.
I mean. If the industry of our nation is being siphoned to oversea’s facilities. It’s in our best interest to protect and nationalize the facilities being sent abroad.
Relocation is a bogus threat. Billionaires will not leave first world countries.
Someone needs to read up on “capital flight”, this is a known phenomenon we’re talking about, not speculation.
I’m not saying it doesn’t ever happen, but we really need to stop talking about it like it’s such a serious threat to the country’s financial stability that we should chicken out and stop taxing the rich.
The billionaires in all those other tax haven countries also repeatedly make the same threats to their own governments too. They’re playing us for chumps.
it’s such a serious threat to the country’s financial stability that we should chicken out and stop taxing the rich.
No one’s saying this, this is a straw man.
It’s just a simple fact that there is a ‘sweet spot’ when it comes to maximizing tax revenue. It’s the same as if you’re selling a product for $10, then 100 people buy it, and you assume that you’ll double your $1000 profit if you sell it for $20 instead, but then the number of buyers went down to 10, and now your bottom line is $800 less, instead.
“Just tax them more” is not the simple/obvious solution it appears to be on the surface. Also, people don’t just not react when stuff like this changes, to protect themselves; just compare tax revenue presently to what it was when it capped out at (iirc) 91%.
And even IF ‘turning that dial’ simply increased tax revenue, it needs to be combined with that revenue being spent productively, for it to make any difference at all. Hell, I think the US already brings in more than enough tax revenue to do everything we want it to do, if it was doing it as efficiently as it could be.
No one’s saying this, this is a straw man.
…and then you go on to spew exactly that talking point at length.
Fuck off, liar. This is what I identified as a straw man:
it’s such a serious threat to the country’s financial stability that we should chicken out and stop taxing the rich.
Now quote me “spew[ing] exactly that talking point” that we should stop taxing the rich. You won’t, because you can’t, because I didn’t.
Shameless, pathetic liar.
…you do understand that “stop taxing the rich” in that sentence doesn’t literally mean set it to 0%, yeah? The only strawmanning here is you taking things way too literally. You still argued exact the thing I was talking about, i.e. that taxing them might make us lose revenue therefore we shouldn’t do it.
Also, ad hominems get you blocked, so bye bye
They will, on paper.
That’s why more countries should adopt the usa’s stance on external taxation. As much as people bitch about it, it’s a great anti tax haven policy, even if we don’t follow through on everything else necessary to do so
Can you elaborate?
Usa taxes citizens in foreign countries. Though they can subtract local taxes from the total, so you only get taxed if local taxes are less
Get their passport and problem solved
As though a wealthy person would speak the Truth…
Is any of that because what would have been half their worth 15 years ago is now less than half of what it would be?
Like, if someone had 100 billion in 2010, and did give away 50 billion in that time, but also made a further 20 billion in that time, did they give away half their worth or not?
I’ve not read the article, so maybe that question is answered in there.
To be fair, I would have a hard time giving billions away. I don’t have any, and I probably will never (except if an event of hyper inflation happens), but that’s just a technicality.
Look, I’m fully aware that this won’t sit well with the billionaires are horrifying monsters that not only should be slain but should be strung up in the town square and be given the blood eagle…BUT if you’re going to make the argument that traffic fines or any other monetary penalties should be a percentage of your net wealth or yearly income, then you have to acknowledge that giving away half of your lifetime earnings is a tremendous act of good will.
Now–there is a difference between me giving up $5000 of my roughly $11,000 in liquidity. We still have around $40,000 in student loan debt and $120k in a 25 year mortgage while we make about $100k per year. And these billionaires could still buy a second house in Cabo with a helipad using what is remaining, but it is SOMETHING. If they truly are “spurning” their billionaire status they should start with giving away half their fortune and continue to give away half their yearly income on top of that, but I won’t totally disregard the contribution that they’ve already made. Unless they’re republican. Then I’m nearly certain that money is going exactly where it shouldn’t.
And these billionaires could still buy a second house in Cabo with a helipad using what is remaining
Important to remember just how much a billion dollars is. Even a billionaire who has only $500m after giving away half would be able to buy a dozen of those properties. A multi-billionaire could potentially buy hundreds of similar properties with money left over. A billion dollars is a TREMENDOUS amount of money.
A hundred million dollars is 10% of one billion.
$100,000,000 is only ten percent of a billion dollars.
Now imagine if there was some way a government could take a percentage of that and put it towards improving society as a whole.
Oh well, guess we’re fucked.
BUT THAT WOULD BE COMMUNISM!!1!
stop stop i’m already hard
Now imagine if there was some way a government could take a percentage of that and put it towards improving society as a whole.
Yes, some form of “giving pledge” where the amount was standardized and there was no option to back out. Radical thinking here.
The fact that there are 256 billionaires is an absolute failure of our society.
256 billionaires that we know of!
Soon to be a few trillionaires and a thousand billionaires
If there were 3 billion would that be a failure?
