The conveniently say to tax the billionnaires knowing full well billionnaires don't have billions in cash, it's the market value of their stock. Elon doesn't have a trillion, it's the value of his companies. In terms of actual purchasing power, he has barely anything. Borrowing against assets is a meme because there's limits to that, the money has to be paid back, and that puts him in a very risky portfolio position.Meanwhile, if you look at leftist bureaucrats, many are making six figures or close to in cash. They get benefits too, many have pensions. Their wealth isn't in a tied up theoretical market cap, it's in instantly usable spending power. They can go buy steaks, go to fancy restaurants, buy whatever they want, go buy beers, wines, etc. This class has successfully diverted attention away from themselves and on a handful of people who have a fraction of the wealth they're accused of having. While they bleed America dry and soak up far more in real resource use.
>>538421591still voting dsa migger cattle.
>>538421631Ah so you're a pedophile who's daddy got him a Yacht while whining that other people aren't giving up theirs.Got it.
>>538421669you're analogy doesn't make any sense either, any billionaire with assets tied up into the market can walk into any restaurant in america or anywhere and use their name and credit to get anything they want, the implication that they are restricted in spending is ludicrous, elon could show up to any venue make tens of thousands for just showing up not say anything and get everything served to him free of charge.
>>538421778Cool, that's one person.Compare that to the 0.1%, the 340,000 bureaucrats in USA who earn close to or over six figures who could easily go in and just spend like crazy.One person like Elon doing that once does not consume nearly the same amount of resources as 340,000 people don't that.
>>538421900elon actually pays taxes so i don't have any problems with his wealth because he actually pays his fair share, a great example of my issue is that asian dude who makes youtube videos and does podcast runs talking about how his entire wealth is levraging debt, taking out loans he doesn't payback and uses legal loopholes in tax law to not pay a cent in taxes, people like this are a problem, i think their is a healthy middle ground between unchecked capitalism and full blown soviet communism, even you have to admit, the wealth disparity in the united states and in the west cannot continue, the people are suffering if you can't admit to that then this conversation is pointless.
My name is kid baby
>>538421900https://www.youtube.com/shorts/Q0X0HEw43t8
>>538421591Pajeet thread
>>538422171That's a meme, that dude literally created this Buy Borrow Die grift.You pay tax on capital gains when you sell assets to pay the debt.>>538422028The problem isn't wealth disparity. If we all got rich together, but some at a faster rate, there wouldn't be an issue.
>>538422555obviously its not communism to say people like this need to be reigned in, im sure even you could think of examples of people who go too far and cause problems and if the problem doesn't self regulate an entity needs to step in, washington cares so much about institutional trust but has done nothing but erode away peoples stability its no surprise then that people would turn to socialism and communism, if people cared about america not becoming china, then help the people.
>>538421591Are you a billionaire or do you just kiss their ass?
>>538421591>Borrowing against assets is a meme because there's limits to that, the money has to be paid back, and that puts him in a very risky portfolio position.No. this is true for borrowing to buy assets, but if you are rich in assets you borrow against them, and the tax break you get is bigger than the cost of servicing the loan. Your assets continue to appreciate and yield dividends.In a sane system, any time someone with a lot of assets wanted to buy something, they'd just sell one of the assets and buy whatever it was they wanted, after paying a little bit of tax (~20% in most of the US). Borrowing money you don't need is literally a way to have your cake and eat it.https://www.jpmorgan.com/insights/investing/investment-strategy/how-the-buy-borrow-die-strategy-worksOP is ragebait but put some effort in, unlike those trillionaire bureaucrats.
>>538423011>No. this is true for borrowing to buy assets, but if you are rich in assets you borrow against them, and the tax break you get is bigger than the cost of servicing the loanStopped reading right there2/10 bait.
>>538423148tax law needs the holes closed, punishments given to citizens fleeing to foreign tax havens by levarging tariffs and sanctions to nations allowing tax havens, and jail time for people who aren't paying taxes, is that communism to you or not?
>>538423240if it were up to me, i'd give switzerland the largest tariff in history, i wouldn't threaten, change today or face economic ruination, things would change fast.
>>538421591>many are making six figures or close to in cash.That this is what Republicans think makes one part of the champagne-sipping elite just goes to show how utterly mindraped they are by the actual elite.
>why the swiss though many other countries do worsean example must be made, the law must be upheld, pay your taxes or suffer the consequences.
>>538423630The fact that you don't think people earning six figures are disgusting shows you just how evil you actually are.There are children in africa right now who eat one meal a day, are literally whipped by warlords, if they don't meat Cobalt quotas, they get sexually abused. They sleep in mudhuts and are worked to death.If you have air conditioning and eat steaks you aren't even close to a good human being.
>>538424183you know now that we are on the subject of africa, i refuse to believe a thriving farming industry can't be started, and schools built with experts to teach some of the higher iq stock in africa im not talking racially here just in general, i refuse to believe it can't be done, teach them to till the land, stick around for a generation until they get it right, it can be done.
>>538424551>>538424183by schools i mean agricultural ones, they need practical skills, complex western math isn't the priority, we need them to have the skill set to be self sufficient not geometry, not that they shouldn't learn those but you get what i mean.
>>538424183africa also needs someone to manage the abuse of their trade deals, they're getting fucked by western powers, get them big into agriculture, start building out exports, while building abundance for themselves, tackle corruption and put people in places who want africa to thrive for the people, the problem is they are being exploited and their vast wealth of resources is being mismanaged.
>>538424551>>538424635>>538424845Theroetically that's possible but right now someone that wealthy is not a good human. I admit im a scumbag for even posting here.
>>538425161posting here doesn't make you a scumbag, this is an arena of ideas, sometimes people come with good ones other times with bad ones, hopefully the ability for the public to engage in discourse anonymously allows for refinement of ideas without judgement of person, few places allow for the exchange of ideas in this private setting, its sorely needed.
>>538421591Bro they're both puppetsGlad you enjoyed the puppet show though
>>538421591Is this supposed to make me reject socialism? Just more rich faggots to eat.
>>538421591>muh poor jewlianaires
>>538425283I'm using a $1000 supercomputer made with Cobalt, in an air conditioned apartment while eating some rice and meat that i cooked up on my stove.I am the economic elite, Elon Musk could just as likely be doing the exact same thing as me this evening, or on X, same thing.
>>538421591Actually, bringing tax rates to their 2000s levels, if not 90s levels, alongside capping SS and Medicare benefits to 2000 levels, adjusted for inflation, would do a lot to close the fiscal gap we've enjoyed from a mere 15 years of Republican presidents spending like drunk sailors and putting the rest on credit this century.
>>538425396>muh poor pensioners!
>>538425440That's what I'm suggesting.Raise taxes on the wealthy while also cutting SS (Medicaid is technically part of SS), we could balance the budget.Makes since because in 1999 and 2000 we did have a balanced budget.
>>538425500i wonder what hilldawg has to say on the subject, and i genuinely mean that, in some parts it was bill that got us that way, i wonder what her thoughts would be to try and replicate that success today if it can even be done, the problem with solving our problems in the united states is partisanship, we need to work together to get out of this mess.
>>538421591goddamn u is stoopid
>>538425796I think Dems became more left wing so it would be harder for her to push for that.
>>538425858You're the poorly educated that Trump talks about.
>>538425859i meant in a more private consultation type setting not some public display of policy, i'd want her honest thoughts not some dnc shilling campaign.
>Dude these Democrats are the REAL greedy bastards>Uhh just forget about that time when Elon got hired as a non-government employee to run an entire department who's sole purpose was to either cut funding towards projects he deemed harmful to the profit of his own companiesMmmm.
>>538425918She likely would support austerity, cutting spending and raising taxes to balance the budget, to mantain U.S solvency and reduce crowding out.She was very high IQ, I just opposed her because she would support policies that were beneficial politically but bad for the country>>538425961that's why i love Elon, he fired tens of thousands of these people im talking about, he cut USAID, he did his best to shrink the government.
we're in a tough spot here in the united states the interest on 40 trillion is too much, im not sure what is to be done, but its certainly going to be a two team effort here guys, you all including /pol/ need to come to terms with reality we're grappling with a beast thats a two man job.
>>538425858God damn u fuck niggers
Elon Musk does not have 800 billion in cash but I am pretty sure he has 30 billion in liquid cash which is more than anyone hasI will see what Gemini says about it
You are spot on that Elon Musk doesn't have hundreds of billions of dollars just sitting in a bank account. Like most ultra-wealthy people, the vast majority of his net worth—which fluctuates around the $800 billion to $1 trillion mark—is tied up in equity, primarily his ownership of Tesla and SpaceX. WikipediaHowever, your hunch about his liquid cash might actually be an overestimation, and he almost certainly does not hold the record for the most liquid cash.How Much Cash Does He Actually Have?While nobody knows his exact bank balance, financial analysts and indexes (like Bloomberg and Forbes) usually estimate Musk’s liquid cash and personal assets to be closer to $1 billion to $3 billion, not $30 billion.In fact, Musk has famously described himself as "cash poor" at various times. He frequently borrows money against his Tesla stock to fund his lifestyle or new business ventures, rather than keeping massive piles of cash on hand. When he bought Twitter (now X), he didn't just write a check from a checking account; he had to sell billions of dollars worth of Tesla stock and secure massive bank loans to scrape the money together.Who Has the Most Cash?If you are looking for who has the largest war chest of pure, liquid money, you have to look at a few different places:Vladimir Putin / Authoritarian Leaders: Dictators and monarchs (like the Saudi Royal family) are often rumored to have tens of billions in liquid cash hidden through proxies and secret accounts, though this is impossible to verify.Steve Ballmer & Bill Gates: Former tech executives who have spent decades systematically selling off their company shares and diversifying into bonds, cash, and broad market funds generally hold far more liquid cash than founders whose wealth is locked in one or two active companies. Ballmer and Gates likely hold tens of billions in highly liquid, non-stock assets.
Corporate Giants (The Real Cash Kings): If we look at entities rather than individuals, Warren Buffett's Berkshire Hathaway is sitting on an astonishing $300+ billion in cash and short-term Treasury bills.So while Musk is easily the wealthiest person on the planet in terms of overall net worth, his actual liquid bank account is surprisingly modest compared to his total fortune!
>>538426189It most certainly cannot be a two-team effort, since we've seen what Republicans, especially the MAGA coalition, have done to the budget this century. You might see a Democrat President push his party into making the hard but necessary choices. You will never see a Republican President, certainly of the MAGA mold do anything but add trillions to the debt and wreck the economy.
>>538426717we need to do what china does, and change our perspective without adopting communism, in that we focus on improving america for americans, we can compete with china, we have the talent we're just not laser focused on prosperity like they are, we're in a funk right now but i believe we can get out of this and bring our country back from the brink, the dollar can be saved.
>>538426705>if we look at entities rather than individualsThe US governmetn takes 4 trillion a year from its people
>>538426717we're neighbors brother for better or worse, we have to work together if for nothing else but our shared prosperity as americans.
