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What always annoys me with most people out there is that they want to take money from the super wealthy. As if Musk and Bezos and Gates are sitting on stockpile
by 734129837261 6y ago
What always annoys me with most people out there is that they want to take money from the super wealthy. As if Musk and Bezos and Gates are sitting on stockpiles of Dollars. Their income isn't billions of Dollars a year, that's simply–mostly–the increase in value of their assets.
In the olden days they taxed millionaires crazy percentages of income tax. But that was before the digital era. Right now, money is digital and there isn't a gold standard. If you say: "Bezos, we tax you 80% of your income!" you'd see him simply not making any money at all and even collecting food stamps if he wanted to.
So the next step would be taxing someone's net worth, which would force Bezos to sell his stocks.
And guess who will be buying those stocks.
Other money printing governments in the form of their wealthy but sponsored businessmen, mostly from China. Then in a few years Amazon is Chinese-owned.
But yeah, Bill and Belinda Gates are at least doing it right. Their foundation is doing so much good for the world and their legacy will be immense for centuries to come.
Same for Musk, who single-handedly kickstarted (I'm not saying he did it all himself, I know he didn't) the world to accept electric cars and made rocket boosters that could land again.
Bezos, on the other hand? Honestly, more power to him doing what he does. He's playing the game by its own rules. And he's winning. But damn, he isn't doing much good with all those resources, does he? Even Amazon Prime isn't that good...
- mushbino 6y agoIf we tax the rich more we'll be owned by China? That feels a bit like an insincere argument. Anyone wanting to buy large sums of Amazon stock could do so right now. Hoarding large sums of money isn't really beneficial to society and the huge sums are far past the point of justifying innovation and job creation incentives.