Why should one person be able to control this much wealth? He's not even an American. Why does /pol/ stan for an African having so much influence over their country?
>>517158807You're retarded he doesnt own that much money.It's just the worth of the company he owns and taxing that value would be extremely retarded
>>517158910fpbpbrown retards dont even know how the systems works but complain always about it
>>517158910OP BTFO
>>517158807UNREALIZED GAINS.
>>517158910>nooooo you can't tax billionaires they are above the law
>>517158910>>517159102Maybe tax unrealized gains over 5m?
>>517158910I don't get the money when my property value goes up if I'm not selling it, yet I still get taxed on the increased value. Until they get rid of that I'm all for wealth taxes.
>>517158807>net worth>made up term "wealth growth income" (reskinned unrealized gains)OP should be castrated on HBO.
>>517159207Maybe shut the fuck up? We've already been through why taxing unrealized gains is among the dumbest ideas ever concocted by morons.
>>517159315this
>>517158807why they still dunking on Elon when Oracle faggot is now the richest, why aren't they going after Bezos, Zukerberg, Gates and all other billionaries?
Removing Jews from our monetary system and returning to a gold standard would solve this problem in a hurry. Unfortunately, it would also completely destroy our fake as shit "service" economy and it would take at least a decade before Americans could build a real economy to replace it.The faggotass childmolesting WEF globalists want to implement central banking crypto because then they'll be able to control every aspect of the monetary system for their own personal benefit.This shit is about to become even more dystopian than we can even imagine.
>>517159295You're paying a local tax because of the real estate situation in your area. It's paying for your roads and what not.A federal tax on business would break every company, put people out of businnes, less jobs and so on.Like it or not business are more valuable and less stable than a house so we can't taxe their value like we would a house.
>>517159207Maybe don’t be a retard? Does he get money back for unrealized losses?
>>517160058If that was the case I could buy off-grid property and pay no tax, I can't. maybe that's the case where you are but not here.
>>517158807He is a naturalized american citizen.
>>517160116off grid doesnt mean there's no local gov.There's always a local gov and you always pay property tax to them.You don't pay federal tax for your property tho.I know it does sound fucky, but in practice it's just how it is and in this capital driven world economy you just can't tax unrealized gains on companies.A house is not a business, although there's a business of real estate
>>517160116What you could do tho is tax the super rich on their real estate value. If they own a shit tone of land/houses they should be taxed on that value for sure.
>>517158910which is why vast amounts of capital shouldn't be privately owned in the first place
>>517160392>A house is not a business, although there's a business of real estateYou're not taxing the business, you're taxing their wealth in owning the business. If property can be seen as 'wealth' to be taxed even if I get zero services in return, they can certainly tax people's unrealised capital gains.
>>517160486Why not, it's not like there's no laws or rules against monopoly. The vast amounts of capital is not owned by one person.
>>517158807The problem with taxing unrealized gains is that it'll really just be used to tax the unrealized gains of everyone else in the end.
>>517160501The wealth of Elon musk is not equal to the value of his business.He can use his business to leverage money to borrow money but that's not his money. He just get's more power to consume.
>>517158910He can borrow against his net worth and basically never pay it back or pay taxes on the borrowed money he spends like his income, so he may as well have that level of cash on hand.
>>517160679I get taxed on money I don't have, so he should too.
>>517158807fucking hate you communists so much. you're all literally obsessed with money which is kinda ironic. why the fuck do you think you're entitled to someone else's wealth? how is it greedy for people to want to keep what they've earned but not greedy for you to want to take it?the government isn't so good at spending it that we should be giving them more.
>>517160833It's not the sameWe live in a capitalist business driven world economy.Your house is not bringin anything to the table.A country doesnt thrive through building houses.This is basically you being a commie i'm sorry.If you hate it, so be it, but just accept you're a commie.and commies need to be hanged because of everything we know about what commies do in the end. (bigger monopoly and wealth concentration than capitalism, stagnation etc..)
Ok, how about yes there is a wealth tax, but anyone who is subjected to the wealth tax gets to murder someone who's on government assistance every so often legally.
>>517160845>democratic control over the means of production bad>boss man withholding surplus value of my labor because he's smarter and better than me (it's really HIS money, okay????) good
>>517158807You are both right and wrong. His money was acquired through illegitimate means (government subsidies to his companies), but you are wrong in thinking the solution is to deprive everyone, including small family farms that are easily worth over 1m of their legitimate property. The solution is to stop the corruption of the lobbying legislation cycle.
>>517158807Tax loans backed by stock collateral.
>>517158807A TND solves this. Literally.
>>517160928No, my goal is to remove my tax. I don't want to pay tax. Commies want more government not less. But until they remove my tax I don't give a shit if they tax Elon.
>>517161004>the corruption of the lobbying legislation cycleThat's inherent to the system and if actually want to stop it you'd have to go communism style and that's a no.We can't have it all.The best solution is letting the system and legislation work like a pendulum and let one rule over the other time to time.Like ying and yang shit
>>517161099Then you don't want a state/gov but you don't understand what that would mean (I come rape you and steal your house and only you can defend yourself)
>>517161099You leave in yeoman petite bourgeois fantasy land where everyone can rule over their own private atomized fiefdoms and the economy isn't an inherently interconnected and interdependent ecosystem
>>517159207It would be funny for unrealized gains to be taxed and for hedge funds pump everything before tax season to fuck everybody. lmao>hey goy I heard you need to cover your tax burden maybe we can work something out
I'll never understand how people who get taxed at 30% plus in their income argue so that people like musk shouldn't be taxed
>>517159207>create company>pre revenue just a concept>capital raise $1m at $20m valuation>congrats you know owe the govt capital gains on $19m for your idea you convinced someone to believe in
>>517161176>and only you can defend yourselfYou're describing a dream. Right now it's illegal to defend myself and the cops won't help me if I am dying anyway and it's a 20+ hr wait at a hospital.
>> 517159102 shut the fuck up you german alien hitler heiling cunt you got bum raped in wwii and still have a superiority complex with your shitty ass english
>>517158807You won't be able to live like him anyway. It would be very inflationary to take all those paper gains and to distribute them to random people.Truth is, govs want you working - making things, giving services. If anything, in my opinions rich fags should not be taxed more, but should be forced to do shitty jobs once in a while. Maybe they would then treat employees better.
We don't need any new taxes.The current ones have to go.The army of bureaucrats and other parasites has to go.Pensions/gibs have to go.Suddenly, it's really cheap to run everything when it's just the army/courts, and you can get by with just a sales tax or whatever, without forcing people to do unpaid labor calculating their income and how much they "owe".
>>517158807>>517158910No matter the actual value, the undertakings of a billionaire class can not be stopped. This means you are powerless in everything they care about.
>>517158807>Billionaires pay the tax>now the government becomes the billionaire's bitch and can be used for any purpose like sending the military to PISSrael if a Rothschild paid the tax, or strictly go towards electricity in the case of tech companies so they get free energy, etc.K, good job. Although if I was a billionaire, I would surely pay the tax and send the U.S. military to PISSrael... to do a TKD there and also declare war against the Rothschilds.
>>517160950>muh surplus valuelmao this is the most retarded concept. do you know most businesses don't survive beyond a handful of years? that a lot of businesses lose money for many years before turning a profit? *if* they become profitable at all. how much "surplus" value is made by an employee of a business that never turns a profit and shuts down after 5 years?
Really, the only "fair" tax to ever have been proposed is the Land Value Tax by Henry George, which would punish land hoarders like Bill Gates, Blackstone and friends.
>>517158807>>517159207Tariffs are the best way to tax the globalists and create jobs for the poor.Tax outsourcing.Tax immigrants $100,000 per visa.
>>517158807Billionare tax is stupid. They would just move in some tax haven...or make some creative accounting, set up trusts...whatever.Taxing monetary transactions of corporations when they move money around, especially from a country where they make money to their tax have...ireland, nederlands... That would actually do something. Amazon pays taxes in Italy in the order of hundreds of thousands of euros. I say...let's take Bezos money at the source instead of chasing him afterwards.
billionaires don't HAVE a lot of incomethey hold assetsnow, whether you want to tax that in some way is a different storybut an income tax always becomes a tax burden on the middle class
>>517162109Under a Georgist tax policy, Bill Gates would just move his assets into something other than land(or into land in another country).
>>517160780So no different than the government?
>>517159207The amount of value you'd nuke the stock market by would never be offset by even a fraction of the amount of revenue you'd generate for the one time it'd generate any money. You're economically retarded, please let the adults speak.
>>517162568>Billionare tax is stupid. They would just move in some tax havenKYSGLOBAL MINIMUM TAXES NOW!!!It's that easy but you retards are holding us back
>>517162579>move his assets into something other than land(or into land in another country)And what's the problem?>>517163496>GLOBAL MINIMUM TAXES NOW!!!Fuck off. Income tax is an absolute cancer.
>>517163969>And what's the problem?The problem is just that the tax burden will inevitably end up on the middle class and would absolutely not punish people like Bill Gates.
>>517162579how the fuck did georgism become a meme it was discarded as folly like 100 years ago
>>517164137You can never escape rich people's financial machinations.The real issue is, then, the ability of the state to impose however many taxes it wants without end, instead of making do with what they actually gather.>>517164398The only ones who didn't like it were the ones who would be hit most by it, i.e. the same rich people everyone is kvetching about in this thread.
>>517158807thats not actual money, thats the value from his overinflated bullshit stock price for Tesla which the company itself has most of its value propped up by swindling pension funds and the other half by Obama electric vehicle tax credits because they dont even sell that many actual real cars
>>517160780Sounds like this is a problem with banks and not taxes.Maybe banks shouldn't be able to create digital money out of thin air.
>>517158807top 1% already pay like 99% of taxes, i dont think we should punish people for being successful by taxing them more and i dont get why you want the state to take more money from people taxation is theft
>>517161813>now the government becomes the billionaire's bitch and can be used for any purpose like sending the military to PISSrael if a Rothschild paid the taxNow this is one of the most amazing billionare dicksucking I have ever seen. It pales in comparison to every other post ITT that says it is physically impossible to take one of their 30 mansions and 20 hypercars.
>>517158807How do you tax potential unrealized money?
>>517160780Therefore, tax the collateral they're using to get money
>>517158807can't tax your way to prosperityThere should be zero taxes and interest rates should be around 8%
The real question is why you want the state to have more money in the first place.What is the money going be spent on?Does the state have a track record of being prudent and non-retarded in its spending?I can guarantee you that even if they took every single shred of income from everyone, billionaires and poorfags alike, it wouldn't be enough to cover all their expenses for even one year.The biggest drivers of spending for most westoid states are (((interest))) to (((central banks))) and the pension/gibs system, both unsustainable Ponzi schemes.
>>517158807There should be a tax on charities and bond income
>>517158807>Tax a nigga's net worth>Make the fucker broke.If you think this is a good idea, you're slightly retarded.I could make a case where this would work, but creating comeptition in the market isn't exactly the easiest thing.So, instead of making threads with retarded commie-inspired info-tard-graphics of stupidity, why not simply an hero?
>>517158807You nigger have no idea how net worth works.Fucking special needs moron.
>>517167443>tax bond income>Nobody buys bonds>interest rates quadruple>government defaults on debt.
>LE HECKING WALTH TAX NOWThe people with the money are the ones who make or influence laws though, it would be turkeys voting for Christmas. Do people really not get it?
>>517159207Taxing unrealized gains is like something a latin american country would do in the 20th century prior to total economic collapse.
>>517158807He works for the government. Why would they tax themselves?
>>517167682And they're OK with it generally because the majority of their funds are obtained via government contracts. Modern day goomunists are the biggest stooges of neo liberal capital.You aren't hurting them by taxing them, you're ensuring they get paid, and ensuring it's harder to start up a compeititve business.
>>517158807You already tax them you fucking imbecile. Maybe you should try spending less.
>>517159207People this stupid should genuinely be removed from society.
>>517158807What if we took the net worth off all billionaires (realistically everyone with say 500 million or more) they keep their money but the interest is divided over a set amount of time and then give out in a lottery type system (like the earn x amount per second, hour, day, etc.) And that rotates through the population until everyone gets it. How long would this take? Some autistic figure it out please. There's a bottle of Tylenol in it to help if you get stuck
>>517158807>limit how successful people can be!Isn't this a really bad policy for any country? What would you do when he reaches the 'cap'? Just take everything else? Why would he work within your nation at that point? You'd just leak capital and talent.
>>517158807You can’t, and shouldn’t, tax assets, which is what is required to tax billionaires. That would just allow them to siphon even more wealth away from the middle class. You need to get rid of every economic concept that allows exponential growth, ie stocks, limit landlords, etc. Thats where billionaire wealth comes from. Don’t treat the symptom, treat the cause. Also, check out Gottfried Feder’s manifesto for more ideas.
>>517158807I think a modest wealth tax is feasible.The only thing is you couldn't do it every year. That would just be retarded. There is too much yearly fluctuation, assets that aren't easily priced like property and private business would mean you end up with a massive government beaurcracy constantly having to valuate everything, and the burden of having to liquidate assets that often has too many negative economic consequences.But if you did it on a 5 to 10 year basis it would make more sense.You look at someone's network in year 0, see what they are worth in year 10 and then make them pay like 10% of that to the government.This way people aren't constantly forced to liquidate or take out loans to pay and actually have time to financially plan to settle their tax bill in a way that is less painful or costly to them, and you don't need the government to constantly be valuating every privately owned business in the country.And 10% once every 10 years in a lot less than 10% every year due to compounding. It's probably an effective tax rate of well under 5% per year.I also think that capital losses should incur a tax credit that is transferable. If you are unlucky enough to have lost your fortune over 10 years then you should be able to sell the tax offsetting credit that you would have recieved to someone else. Because if you went from a network of $100 million to effectively zero there isn't much chance that you will ever be at $100 million again and so would not be able to capatlise on your $10 million tax credit. So you should be able to sell it to some guy for like $9.8 million.
So many Americans simping for billionaires. Taking ordinary people unrealised gains is bad, but billionaires who basically cheat the system parasiting off the societies we pay into, should be taxed without mercy.Exceptions can easily be made without disrupting society.
>>517164718Top 1% def do not pay 99% of taxes retard. Also, at some point, enough is enough. Not a single faggot in these comments will ever make anywhere close to that kind of money, yet here they are, sucking the rich dick like it’ll cum money and success for them.
>>517163496If there was a global minimum tax, whichever country chooses not to participate will become the most successful country in the world.
>>517158807Don't tax wealth, tax the monetization of wealth. Put a vig on loans using stock as collateral for the federal government.
>>517167576>You're too stupid to understand how net worth is created. That means we should continue to decimate the middle class and transfer all of their wealth to billionaires.I guess that that's fine because you feel smart?
>>517169942Way to double down on being a fucking retard.
>>517169589Exactly.Taxing income is so much worse in terms of its impact on the individual. The only reason we do it is because a progressive income tax yields the highest amount of tax with the least amount of economic friction. In other words you give 20 minutes of every hour you work to the government so that the economy can keep pumping and the assets of the wealthy can keep going up in value. Having said that the utility of progressive income tax in undeniable, and there is no way you could replace income tax with wealth tax without destroying the economy to such an extent that everyone from the richest to the poorest would feel the pain. But introducing a modest wealth tax to just slightly ease the income tax burden is a no-brainer and would probably lead to better economic performance anyway as the middle class would have more disposable income.
>>517159156This these retarded niggers don't understand it's not actual cash it's an increase in assets that need to be sold be usable.Technically it's just paper wealth until sold.
>>517170039>Ad hominem attackNot even worth a response unless you can come up with anything of substance
>>517168266So when the rich run from their taxes, whatever country they run to should double their taxes. There’s always some cuck out there ready to cup the rich’s balls in the chance they get a drop of piss soaked cash. Weak, little weasel people.
>>517161360He is taxed retard, way more than you or I
>>517170433He is not taxed on his access to liquid assets nearly as much as we are on income.
>>517170339Most tax havens are weak little islands that we could easily invade and usurp their authority.
>>517170206They don't need to be sold to be useable because they can take out loans using their wealth as collateral. Their wealth compounds faster than the interest they pay on the loans because money printer brr so they have a tax-free infinite money glitch.
>>517170206Leftists don't realise this.But that doesn't mean a wealth tax is actually retarded.I mean look at China, which is essentially a national socalist country at this point, and forces CCP ownership stake in every company once it reaches a certain size. A (properly implemented) wealth tax is just a soft version of this, where the government gets no ownership stake in businesses but is entitled to a share of the value of the business.As I said in a previous post a proper wealth tax is only implemented on capital gains. The only difference to a capital gains tax is that there does not need to be a sale of assets to trigger the taxable event. But it's not like if you're worh $100 million one year and pay a 1% wealth tax of $1 million that you would have to pay $900k on your $99 million wealth the next year. You would only pay 1% of the capital gain, and just like capital gains tax losses in wealth would grant tax credits that can offset future tax bills. It really isn't that out there of an idea if implemented properly, especially because you can take out loans on the asset to pay the tax meaning immediate liquidation isn't even necessary if it is not in your financial interest to do so.
>>517158807Yea, I get the tax the rich people, but how much of that money does he actually have? He probably has maybe $10 million in his bank account to cover taxes and the rest is tied to stocks and assets. As long as he doesn't sell his stocks or assets, he won't be taxed for it. Most rich people have their money tied in other ventures and investments to get around paying taxes. That's why even with the progressive income tax in the 1950s and 60s, most millionaires didn't even pay those taxes.
>>517170745How do you justify the state receiving even more money than it already does (and still pissing it away on retarded shit)?
>>517170235Cut spending you fucking retarded nigger.
>>517158807The problem is that there already exists a billionaire tax. The same way that there already exist laws against narcotics, or how shoplifting is theoretically illegal. Existing laws just aren't enforced.
>>517171253Easy. He benefits from the spending. Odds are it pays his salary.
>>517158807If commies are so smart why can’t they make easy money investing in primary capitalistic exploiters to fund their revolution?
What's really funny about this thread is that everyone is so caught up in the concept of taxes that no one is asking what Elon Musk invented or otherwise did to improve humanity in early 2020 that justified his level of wealth skyrocketing. A few people have tangentially mentioned Tesla stock but that still doesn't give any justification for why Musk was able to go from $25 billion to $318 billion in a year and a half while doing pretty much nothing. Who honestly thinks that sudden increase in his wealth was organic? And if it wasn't natural, what forces decided to make him the beneficiary of this huge run up in valuation. It's so easy to get plebes to suck billionaire dick with simple structuring of how data is presented. His wealth increased by nearly thirteen fold in a very short period of time and most anons are ok with this so they can argue over tax rate crumbs while he gets the flood of Indian poo he wants to drown the country in.
>>517170339Ok so they'll just go somewhere else.>>517170645Who is "we"? The best will work for those who pay the most, you're not paying anything.
>>517158807Because it’s retarded. Almost all of that is shareholdings. They already taxed the gains of the company that increased in value (dollar value, which increases like 10% year over year now anyway because we are printing Zimbabwe paper as fast as we can) so you’d just be confiscating Tesla shares from shareholders for the government to hold while they fluctuate. Then you’d be giving them back as a return when they dip or something retarded like that? But the government would spend that confiscated cash value on niggers and jews in the meantime, so it wouldn’t even benefit from stealing high and returning low. It would just be a money printing scheme that accelerated the death spiral. Anyway, stack silver, gold, and lead. We’re all fucked.
>>517170433>he pays more tax than you and INot on a % of his actual income because he's allowed to make a fuckton of money without legally calling it "income".
>>517171253That's a seperate question.I have straight up not paid tax for many years of my working life (self employed) and I have taken much satisfaction in this because who the fuck wants their money going to pay a bunch of government beaurcrats to push more of their bullshit agenda?But putting all that aside and just assuming that tax is gonna be a thing one way or another, and then evaluating the economic pros and cons of wealth vs income tax, as well as the individual burden, then it seems pretty obvious to me that a wealth tax should be used to offset some of the burden of income tax.In Australia we currently have a society where our government is selling off our quality of life through mass migration as a means to maintain economic growth. The beneficiaries of this policy are those with capital in the economy. The more you have, the more you benefit. Meanwhile you are insulated from the downside, which is borne by those with less. The less you have, the more you suffer as housing prices shoot through the roof, public healthcare is pushed to breaking point and wages are suppressed.To me it does not make sense that a young Aussie who has just left home and is earning $70k a year is forced to pay $15k to the government when they are paying $350 a week to rent a room in a share house while trying to save for a deposit on a $600k one bedroom apartment. I mean it is essentially not possible. Meanwhile somone who has a paid off home and a stock portfolio of $500k is seeing a $30k return on investment that is driven by the exact same policies that is keeping the young Aussie from being able to achieve financial stability and wealth generation.If a 1% per annum (or preferably 5% once every 5 years) weath tax, applied to unrealised capital gains only and not all wealth, could reduce the income tax burden by say raising the tax free threshold by $1 or $2k, then that would have enormous social benefit without the disastrous economic outcomes that some people think.
>>517159295You shouldn't want injustice for others just because you experience it.
>>517172387So just make solely stock compensation illegal? Make it so the majority of a company’s payment to an employee has to be legal tender? Taxing stocks is retarded.
>>517172184Elon didnt invent a single fucking thing. He is a government employee that is placed in charge of privatized government developed social control programs. He's allowed to act "so rich" so the retarded rubes in this country think his company's shit is cool and want to buy it. Same with Jobs, Gates, the two fags from Google, Fuckerberg, etc.
>>517162699Nuking the stock market would be good, though.
>>517158807its a currency issue not a billionaire issue
>>517158807shut the fuck up nigger. Elon WILL be the first trillionaire
>>517172404>The beneficiaries of this policy are those with capital in the economyRich 60+ people specifically. They're the real problem.
>>517172387Because its not income you fucking mongoloid.
>>517172543They're rich enough to buy votes in congress and the white house. Such a law would never be allowed to pass.
>>517158807People should be capped at 1B nobody every needs anything even close to that more is just pure greed and in all honesty I pray for these people to get killed they are scum instead of using that insane vast almost endless ammount for the benefit they just haord it and stock it and fault it and don't deserve it. Billionaires should be murdered killed deleted from the world they believe they are God's untouchable they can buy anyone anything its a miracle that some broke boys don't go around killing them since they are literal trash
>>517172404Unrealized gains are just projections, or, rather, how much someone feels something/someone is worth.It's absolutely retarded to steal something based on how much you feel it's worth. It's a slippery slope that will result in the middle class losing all their assets because they'll have to sell them to afford the tax.In any case, why is it always about taking away portions of income with you commies? Do you have no imagination?
>>517172885You're all worthless faggots though. At least billionaires produce some tax revenue. You're a useless drain on society.
>>517172519Tax is inherently unjust.Income tax is perhaps the most unjust of all.The reason it is used as the main sources of revenue for almost every developed economy is because it produces the least negative economic impacts.You need income to survive, to pay for food and bills and everything. You can't really get around this. It is only when you have extreme increases in progressive tax brackets that people become disincentivized to work more, or incentivized to complex tax avoidance schemes. But for the most part people will not work less because they are taxed.But if you tax spending with a value added tax, people can (and will) spend less. If you tax fuel and roads then you reduce mobility. If you tax wealth then you force the liquidation of assets which can move assets from productive to unproductive managers, upset pricing and so on.But in terms of what is 'just' and what is 'unjust' then income tax is probably the most unjust. It is a massive brake on the ability for financial and social mobility. In my opinion pretty much every other form of tax should be implemented in a manner and to a degree that imposes the least possible negative economic outcomes while still making a meaningful dent in reducing the burden of income tax.
>>517173058I got my guns getting ultrasonic cleaned this week I'm going to kill people like you its going to be hard since I have to physically invoke retards ( such as yourself ) into face to face conversation. I'll remember you anon and I'll imagine its you i kill maybe even rape your children and wife to death or just pass her to the crack heads and make you kill your own children
>>517172885the seething from poor fags is hilarious. make sure you pray for peoples death every night you pathetic little worm.
>>517173516Take your meds, xir.
>>517158910frog correct for once
>>517158807>income taxthe retards don't understand that billionaires don't show income. You can set their income tax at 90% and it will do nothing
>>517159207that's nonsense though. How can you tax something that doesn't exist?
>>517172187That’s what I was saying. Every country across the earth should have a fucking spine and force these vermin to pay their fair share, or face the fucking wall. No where to run would solve this problem
>>517158807they shouldn't, but jew comped people will tell you otherwise. we're literally reliving history.
>>517158807Everyone should just pay a flat tax or 5% or something. Too many people weaseling out of paying everyone just pays the same low rate.
>>517159472>muh boomers>muh joooooos>nooooo I don't want real solutions to break up the obvious problem reeeeeeepeople like you are so mindbroken, it's unreal.
>>517159185Tax fucking what, nigger? Ownership? Maybe we should tax everyone's stuff then? Nice car, 10% of its worth goes to the government every year. Nice house, nice dog, nice watch. Can't pay? We'll just confiscate your stuff.
>>517173049You're right that valuation on some assets is not easy. The majority of assets can be valued easily though, and as I said in an earlier post I think it would be retarded to implement a yearly wealth tax exactly because the beaurcratic effort in valuating the more difficult assets (like privately owned businesses) would be highly inefficient and prone to error.By a 5 or 10 year wealth tax would help deal with this issue, reducing the frequency that assets have to valuated and allowing time for the individual to dispute any valuations they feel are wrong. And no it would not lead to the middle class or anyone losing all their assets because like I said a sane wealth tax could only ever be implemented on unrealised GAINS. That means the rate of the wealth tax in the hard cap on how much you will ever have to pay of your assets value. This system does not slowly chip away at your wealth. If you have $10 million in assets and their on paper value grows by $2 million in 5 years then you will only pay x% on that $2 million, and whatever you have left over, $1x million, is exempt from wealth tax for the rest of your life. There is no way that anyone can argue that this tax system puts more burden on the middle class than income tax. Income tax is an insanley high burden.If you wanna argue that all tax is theft or something then fine, I agree with you. But in a world where income tax is the norm, I don't see how anyone can say that a (well implemented) wealth tax is some kind of earth shattering, economy destroying thing.
>>517158807Because USA is one very big taxhaven.Small places like Venezuela are for europoors and asian kleptocrats.
Realistically? He doesn't have anywhere near that much wealthThe majority of it is tied up in assets like company stocks.Now the real issue is the amount of loans he can take out using that wealth as the collatoral.This is how the billionaire class finance their lavish lifestyles. They take out massive loans which banks are happy to give them since they know they'll get paid either way.Then when those loans are due they just take out more loans. They'll pay a bit off here and there but its mostly just never paid off
>>517173680Why the point ? It already happens every second of everyday. I will however focus on the dirty scum that dare poke their heads out and think they are something to behold. Like you anon I hope your mother is raped and killed if that foul whore isn't already dead and that's how you got rich
>>517158807instead of taxing them, what if you told them that if they dont reinvest this money in the country, they will be taxed?
Thousands of years playing economic jewish games and retards think that new taxes will fix the problem.
>>517175017
>>517158807He worked for it. Why don't you faggots go and make a few billion dollars each if it's so easy? Then you can give it all away and everyone wins!
>>517160780How does he pay his loan off?
>>517158807>Why should one person be able to control this much wealth?I have no idea what a zoomer means when he says "tax the billionaires". Can you (even in theory) point to a bank account and say "the money is in there"? It's all pretend horseshit. "b-b-but his shares are worth that much"... no they're not, you nigger-brain. People just believe that they are despite no one running the experiment.
>>517164718In the UK, the top 1% pay 28% of income tax. The top 10% pay 60% of all income tax. The majority of income tax paid by the rich is on services they never use: welfare, the NHS, and the state pension. When people work hard and contribute just to watch the government burn the money so people can sit at home playing Candy Crush on their sofa, I can see why people don't want to pay more. Why take money from those who create wealth to just give it to those that destroy it?
>>517158807Whatever laws they would pass would be fitted up with loopholes people like Musk can get through but some working class dude who invested half his meager income can't. The Dems' proposed unrealized gains tax would have done this, for example.
>>517158807>give more to the government so they can steal it and send the rest to Israel/niggers
>>517160780>It's the CEOs fault that banks give out exuberant amounts of money to him and he should pay the price for their actions.
>>517175742There are practical effects of that belief though, such as that value being usable as collateral
>>517175548He sells stock eventually. And, shocker, he pays tax on it.
>>517175548With more loans. After few decades of that you get divorced so you get to re-basis your stock holdings to current value so no capital gains taxes are due, pay off your loans, form a "Foundation" with the rest and start taking out more loans.
>>517158807You are assuming the governmentis going to spend the taxes on you and not on retarded shit, like Israel, or funding more migration...Yeah, fuck Billionaires, but the whole system is broken. You can't fix this. You need a new system that isn't based around fake money
>>517158910Nah you're an idiot. People are generally taxed on realized capital gains.
>>517176208>There are practical effects of that belief though, such as that value being usable as collateralSo instead of wealth, it turns out that it just might be "more debt"? You realize you're pants-on-head retarded don't you?
>>517174221>middle class wagecuck>work a regular job>inherit home or other assets from parents>asset prices shoot up, at the very least because constant inflation>can't pay the tax because your salary is not enough>forced to sell assets to pay the taxEvery single proposition to "own the rich" has resulted in the middle class getting fucked in the ass, time and time again. This is exactly how income tax wormed its way into every single legislation - at first it was touted as only applying to "the rich", but "the rich" soon turned out to be a very flexible term.
>>517159472Where in the OP image does it specify "unrealized"? It says none of it will be taxed at all (which implies that none of the gains are realized if you're interpreting it correctly).
>>517172586Lol
>>517158910And yet he can take out loans using the assets he owns, you absolute retard
>>517158807Fuck him. He's the one behind the 50 million new pajeets that are here and the 150million more that are on their way. He's got infinite jeets coming in.
>>517176737>only cash is wealth>see he's actually in really bad debtWut
>>517176737No matter how staunchly you defend him with your financial illiteracy, Musk-senpai still won't notice you
>>517158807Why should the government be able to take in 4 trillion dollars and spend 7 trillion dollars a year?
>>517158910Couldn't they tax capital gains enough so that the business owner has to sell some shares to pay for the taxes? Then ownership of the company gradually gets spread out among investors
>>517177775Great plan, chaim. The tribe should be running these businesses, not their goy owners.
>>517161140>That's inherent to the systemYes, yes it is. The system needs to end.
>>517164661Maybe you're a vile anti semite!
>>517176231>He sells stock eventually. And, shocker, he pays tax on it.interest rates are way too low and it means these billionaires can borrow way too much money and that money is essentially printed out of thin air. Interest rates should really be 8%-12%But to have that, we need to abolish income taxes
I have to pay like 30% taxes on my paycheck yet you retards are defending rich retards who have to pay like less than 1%
>>517159185The point isn't to create another tax, which has full time lawyers cracking open, but to entirely overhaul the entire money system.
>>517178260>Ending the legalized corruption systemThat's anti-semitic
>>517158807Taxing the rich will only end up taxing the middle class. So the lefts solution is to tax assets on the rich. -> rich borrows against them -> some tax revenue -> rich man happyThose that owns the majority of capital owns the US. There is nothing you can do about it. "Will vote for someone that does what I want" Yes, then they just bribe them into not doing just that.Only solution to get your will through is getting a bunch of communist zealots into office, but then you wouldnt worry about taking the rich because everyone is poor.Just forget about it, taxing the rich the way you would want it would never work.
>>517178588Well, you dumb fuck, maybe you should argue that you should spend less.
>>517158807>wealth growthAh yes another unrealized gains tax come to fuck your stock investments, retirement accounts, and silver/gold.
>>517178898How about the rich paying all taxes while I pay nothing
>>517166838Taxing unrealized gains will crash the markets and fuck everyone's retirement program during tax season.
I’m no poorfag appreciator or commie wealth confiscator but the current laws are honestly fucking bullshit and something should be done. They get to amass wealth and NEVER pay any taxes at any point now that there’s no inheritance tax and their heirs get it all at a stepped up value. This is why they just borrow money to live while letting their wealth amass infinitely. They amass billions of dollars that is literally NEVER EVER taxed. The heirs get to settle that estate debt by selling whatever amount necessary which results in zero capital gains for them and now an infinite amount of wealth at a ridiculously high cost basis.
>>517179172They basically do already, you fucking nigger.
>>517159207Unrealized gains should never be taxed if they're just held on to.Instead treat any gains as realized if assets are used as collateral for a loan. The difference here is that when youre using them as collateral youre using it at an assessed market value, rather than holding onto an assset.
>>517174087I mean we do pay property taxes on vehicles...
>>517161693This.The elites own everything and the politicians they bought are smart enough not to bite the hands that feed them.
>>517158807Elon Musk paid $11 billion in taxes in 2021. That's more than any single person in human history.
>>517159931Because Musk committed the horrible atrocity of speaking out in politics, so the leftoids and their snarling dog (the media) are on his ass until he dies.
>>517172785>duhhhh the thing you’re talking about could never happen so I’ll name more things that could never happenSpiritual nigger.
>>517158807Because he's much more efficient at allocating money than you or the government. FACT. The government SHOULD see to it that olygarchs who work against national interest are overcome with sudden fenestrophilia but taxing won't fix shit.
>>517179308Not really I want to pay 0% taxes while they pay it all
>surely the powers that be will pay their fair share Just lol
>>517158807Because I'd rather he have it than the government.
>>517181095>while they pay it allYou could tax them 100% and it wouldn't even cover your interest payments.
>>517158807>nobody should have any wealth >the State should steal it all!>>517158910Also this, real wealth is property and equity. This is like how inheritance tax exists to destroy family farms.
>>517158910Nigger he can just get as much money he wants by debt, like money isn't even real to him since he can just go to a kike banker and loan whatever gorilion dollars he wants against the collateral of his shares, and since debt isn't taxable he gets free money, then he invests or buys several bajillion shares with a fraction of the money he was loaned causing his fanboy faggots to buy the same stock driving the price making his collateral even worth more thus keeping the kike banker happy, his wealth isn't real as so even money isn't and you retards are too dumb enough to notice, half of pol are marxsists retards that think he should be taxed and the other half is corporate bootlickers who are literally generational trauma inflicted retards that guzzle boomer cum and BS like it's candy.
>>517159207Maybe tax stock collaterized loans?
>>517158807Why do you get a say in what he controls? He made businesses that grow that wealth? And socialists/communists are cancer.
>>517158807The main reason not to tax the rich is that the money goes to the government to spend on anything but whatever you think taxes are supposed to pay for like education, healthcare and law and order. That's the main reason not to tax you too, but I doubt you care, you just jealous of Elon
>>517160948Elon Musk is a foreigner who has made his money on U.S. protectionism. In a truly free market Tesla would go bankrupt because its competition would destroy it. Instead Americans are forced to buy his overpriced junk while actual innovation and price reductions happen overseas.
>>517182702Protectionism is not capitalism you fucking retard.
>>517158807Billionare tax is right in economic downturns, because when the economy is constricting the only investment for the wealthy is to buy existing assets and choke out the workers.in a growing market, such a tax is foolish and amoral.
>>517183371Tesla, Space X, Starlink, Twitter are all privatized government social control / data mining operations. He is just an actor playing "cool CEO" to market the bullshit so the plebs buy into it. Same as Microsoft, Amazon, Apple, Google, Palantir, Oracle, etc... etc... etc...
>>51715880730% of a billion is already a lot more than 30% of your $10k bro. that's why the tax is a percentage and not a set number.
>>517183706If you have a Billion, you're not paying anywhere close to 30% tax on it. Your accountants and tax lawyers will make sure of that.
>>517183622Yes, I know. He was selected to run these things as a “private businessman” to avoid government oversight. What irks me is all the faggots who call this capitalism.
>>517158807the people in power are all wealthy and won't enact legislation that would take money away from themselves. they also never forbid stock trading for the same reason.
>>517183818Retard no one has a billion, it's not income thus it's not taxable, it's not fucking real
>>517183476>muh academic jargon that means nothingDid you even answered the right post? Stop reading these books, man
>>517158807>moves to other country>...
>>517158910technically he does own that much money, same with all of them. thats the problem is they leverage all of their wealth into companies, there's not much else you can do with money other than put it into assets when you have so much. which makes taxing at that level of wealth ridiculously complicated compared to the average person. and I am not arguing to justify any person having that much wealth.
>>517184239>not a person having that much wealthindividualism is for faggots>not a person having that much wealthwhat about a family / clanwhat about a race?
>>517184239This is a retard posting.
>>517185318one person, a group. there is not a anyone that holds significant wealth that is basically entirely liquid, every single person of significant wealth in the B's is on a specific person's(a person who moves a country) rolodex. these people are in contact with everyone else that can have significant impact on a country because significant actions they do can have rippling effects. I don't think you quite comprehend how the tension of wealth has gotten everything extremely bound tight and it is greed but its also capitalism, expansion of operations and conglomerates and larger fish buying up smaller fish.
>>517158807>Why does /pol/ stan for an African having so much influence over their country?OP is a socialist faggot troon baiting with a false premise. He is just obsessed with Musk in particular because he allows troons to be made fun of on Twitter but doesn't care one iota about any other billionaire, especially not "good" billionaires like Soros that pay him to post his commie bullshit here.
>>517183818You people are cancerously stupid. Even at 10% they're paying more per year than you will in your worthless life.
>>517158910>Put a tax on the value of assets owned if it's over $50 millionThere, problem solved.
>>517160780and what does this genius do when he needs to repay the loan?also the guy with 1mil in stocks can also take out a loan just fyi, very few banks would turn down someone like that.
>>517158807It's not a question of "no one should have all that money" it's "no one should have all that power". Being rich, accumulating wealth, is fine, but the more one has, the more power, influence, and representation they have. Regular people aren't just at their mercy as it is their wages and products they rely on, it's all their interests they get to push through control of government. Limiting wealth makes it so that they are better at investing in their workers, lowering prices, and creating more jobs and convenience. It's a net positive for everyone but those working in politics and CEOs.
>>517190615seems like a dumb idea, why make companies that are worth more than 50 million be less competitive?
>>517169942>>517170235Wealth isn't being transferred to billionaires, wealth is being created by billionaires. Jeff Bezos has made all of our lives richer.
