Related: Robert Reich posted earlier today that Tesla paid ZERO taxes on $5 billion in sales (earnings?), so that’s just fucking great.
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just fucking stop. everyone, all of you, together. just stop.
Yeah it’s called capitalism not poorism.
And we still have to play the guessing game where we try to estimate the number that the government already knows, but won’t divulge to us, like some sort of fucked up psychological game.
This shit is so fucked. I’m awaiting the collapse.
This is when daddy marx reels you into his pleasure house by telling you about how he predicted all this shit in 1848 and had advocated for the dictatorship by the proletiariat (the working class is in power, no conflictions between power and politics by allowing lobbyism), capitalism has always been doomed and the reagan bullshit about the trinkle down economics has always been known by econimists as nothing more than a self-contradicting distraction whilst we robbed foreign nations to sustain an unsustainable system.
“We have a finite environment - the planet. Anyone who thinks that you can have infinite growth in a finite environment is either a madman or an economist”. ~ Sir David Attenborough
Couldn’t they also be a mathematician? The Pointcarré recurrence theorem is a good example of infinite rate in a fixed dimensional space. Also, that quote really oversimplifies environmental engineering, the ozone layer has been fixed by the kyoto convention because every person with the simplest understanding of the carbon cycle can understand why the earth has been able to sustain ressource consumption for all animals and can still do so for a very long time still, infinitely or not.
Don‘t elect pro capital governments, then.
Which one of the 2 parties is that?
During the previous administration, Congress passed the Inflation Reduction Act, which included $80 billion for IRS to hire more people to go after the rich. The CBO estimated that it would collect $200 billion in the next decade, but there were other predictions of $560 billion.
Trump reversed all of that. Elon Musk and DOGE fired 1/3 of the IRS work force.
But you know, both sides are the same, right?
it’s almost like the rich are the ones actually running the country
The issue afaik is that Jeff bezos’s $200B is in assets like stocks, and the buy borrow die strategy of getting loans using assets as collateral lets rich people spend money without actually cashing in said assets which would trigger capital gains taxes. Idk how to stop this prevalent strategy but between that and the corporate tax system ignoring money that goes back into the company letting corporations invest their profits to ignore taxes that’s why so few taxes are collected on those groups. Feel free to correct anything inaccurate.
I think an easy solution could be to start seizing anything over something like 100 million total value, with the value updating once every few years (otherwise people dumping their houses and stock would trigger devaluation enabling them to keep more than they should)
Tax wealth the same way it’s already taxed with estate and inheritance taxes. If the person doesn’t have enough liquidity, they can sell the assets, like regular people already have to do often to pay the estate taxes.
Seems pretty simple to me. Tax the collateral loans as income. And don’t allow the interest repaid to be tax deductible.
Be better to ban loans on financial assets. These are loans against stocks/bonds etc that they commonly use. In order to get a loan it has to be against a physical asset. Also set firm limits to how much any physical asset can be leveraged.
It’s called fiduciary duty
Wait what?
Rules for thee, not for me
Like, I get it. Tax the billionaires out of existence, but I am pretty certain the bracket at which you’re paying 25% in taxes is income over 100k.
Nope! 36,000 gross and 27%.
Y’all know earnings on corporations are taxed twice, right? Sole proprietorships - taxed once, partnerships - taxed once.
I mean, I’m all for it, fuck corps, they are a funnel for profits at the expense of everything else in society, but let’s put the hate where deserved, like the fact that the government treats them as a fucking (morally bankrupt) limited liability person, rather than just pointing out some voodoo economics financial accounting trick that probably won’t ever change so long as the rules allow them to exist.
They should be taxed twice, and we could surely say they are, but being taxed and actually paying taxes are two very different things in the U.S. tax setup.
