Taxes or guillotines. Pick one.
this post was submitted on 15 Jan 2024
150 points (98.7% liked)
News
22903 readers
3717 users here now
Welcome to the News community!
Rules:
1. Be civil
Attack the argument, not the person. No racism/sexism/bigotry. Good faith argumentation only. This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban.
2. All posts should contain a source (url) that is as reliable and unbiased as possible and must only contain one link.
Obvious right or left wing sources will be removed at the mods discretion. We have an actively updated blocklist, which you can see here: https://lemmy.world/post/2246130 if you feel like any website is missing, contact the mods. Supporting links can be added in comments or posted seperately but not to the post body.
3. No bots, spam or self-promotion.
Only approved bots, which follow the guidelines for bots set by the instance, are allowed.
4. Post titles should be the same as the article used as source.
Posts which titles don’t match the source won’t be removed, but the autoMod will notify you, and if your title misrepresents the original article, the post will be deleted. If the site changed their headline, the bot might still contact you, just ignore it, we won’t delete your post.
5. Only recent news is allowed.
Posts must be news from the most recent 30 days.
6. All posts must be news articles.
No opinion pieces, Listicles, editorials or celebrity gossip is allowed. All posts will be judged on a case-by-case basis.
7. No duplicate posts.
If a source you used was already posted by someone else, the autoMod will leave a message. Please remove your post if the autoMod is correct. If the post that matches your post is very old, we refer you to rule 5.
8. Misinformation is prohibited.
Misinformation / propaganda is strictly prohibited. Any comment or post containing or linking to misinformation will be removed. If you feel that your post has been removed in error, credible sources must be provided.
9. No link shorteners.
The auto mod will contact you if a link shortener is detected, please delete your post if they are right.
10. Don't copy entire article in your post body
For copyright reasons, you are not allowed to copy an entire article into your post body. This is an instance wide rule, that is strictly enforced in this community.
founded 1 year ago
MODERATORS
How many more years of these news stories do I have to read before we actually do something about this?
I'm so fucking sick of this happening constantly.
We have to stop voting for rich or wanna-be-rich business people. It's the only way. Combined votes for the best of the worst to eliminate the tyrants, then vote out the wealth focused. Can't believe that's the situation we are in.
Voting alone will not get us out of this situation. Maybe implementing rank choice of voting might do it. I just don't see good solutions because the politicians were all about sold anyway it doesn't matter which one gets voted in, voters never get the final say.
fuck capitalism
It will trickle down any moment now. Any moment.
Something d-o-o economics. Voo-doo economics.
Frye.. Frye.. Frye..
Wait Musk is still such a strong first place? I thought with twitter bombing, people starting to dislike Tesla, general weird behavior, he was losing quite a bit? I'm probably way out of touch but isn't someone catching uo to him?
That's the neat part. When you're rich you can make as many mistakes as you want, and you'll still be rich.
Lost more money than anyone ever has ever and is still the richest human alive. Howzat for fucked
They don't even lose money. Those huge figures that keep changing are literally imaginary. For example, let's say I have company and I make it publicly traded. I keep 100 shares and sell 100 shares for a dollar each. some guy buys 1 then sells it to someone else for $10. Now I have $1000 because each share is valued at $10 now. A few days later some other guys sells his 1 share for $5. Now I have $500 and I've lost half my money overnight. And during all this up 1000% down 50% advanture only $115 changed hands. There has never been a 1000 or even 500 dolars.
If I wanted to sell. my 100 shares when it was 10 a piece I wouldn't be able to do so, because as soon as I start selling shares on mass it would lose its value. But I can show it as collateral and get credit from a bank. I didn't create any value but now I have lots of cash. The more I think about it the more pissed of I get.
Yep money keeps making money
Tesla shares constitute something like 70% of Elon's total fortune. Twitter is overall not that relevant for his big picture wealth, and weird behavior even less so.
At the moment Tesla's stock price is in decline because of competition from China and the overall EV market not growing as fast, so Bezos or somebody else could indeed overtake Musk in the near term. But this could easily change again next month, the stock market is fickle.
It so cool that you can buy your way into an existing company that already had talent and an idea, and then become among the richest people in the world...
Wait sorry, Hard Work™©® yeah... That's what he did... Hard Work...
Oh there was hard work involved. His daddy's emerald mine money worked very hard to get him where he is. And the slaves in those mines worked very hard to build daddy's money.
Rich assets grow exponentially. They will exceed government budgets if they haven't yet. Then, they will have far bigger budget than governments.
Maybe the world will all become North Korea.
Elon Musk, Bernard Arnault, Jeff Bezos, Larry Ellison and Mark Zuckerberg
Just capitalism working as intended, nothing to see here, please keep walking.
This is such a good visualization of big numbers and big bank accounts.
It's also a good way to really see the bull shit argument that it's unfair to tax the wealthy at a higher rate. Even if they get taxed at 90% (which I don't think will happen in my lifetime) they still will have enough money for them and their decedents to live a lavish lifestyle. And that extra money could really make America into the country that it pretends to be.
Also, the "taxed at 90%" is a red herring too, since that's not how progressive tax brackets work. Nobody's effective tax rate would be close to 90%, even if we raised the top marginal rate to nearly 100%.
You guys ready to eat em yet?
Yes, but I wouldn't eat a rich person. All the chemicals and drugs in the meat. Gross. We need to just cull the rich.
How about we stop calling it their fucking money. It's inconceivable that someone can look at what has got to be at least 50% of all wealth ever made by humankind and say, "this is mine and just mine". That isn't what sane rational people think
Having that amount of money makes you lose all rational thinking my dude.
Ain't we got fun?