1 hour ago, Chomper Higgot said:

The billionaires are glad you have their back.

Or at least they are pleased that their investment in controlling the news media is paying the dividends they hoped for.

well we are keeping your lot from power and the concomitant organization of mass murder, so thats a plus too.

9 minutes ago, Chomper Higgot said:

Yes I do.

You do know money is a thing that flows?

9 minutes ago, Chomper Higgot said:

Yes I do.

You do know money is a thing that flows?

If someone's net worth is based on the valuation of the company they own. What are the flows?

7 hours ago, Jim Blue said:

Will they be on Mars tax rates ?

Kuato says yes.

11 hours ago, KhunLA said:

Without Musk, billionaires & millionaires, many people wouldn't be employed, salaries injected into the economies, supplying other businesses & employees with income, let alone the amount of taxes they generate.

Musk's SpaceX, along with many other tech companies are rapidly building humanoid robots that will take many jobs that people do now. These are coming off the production line every 15-20 mins.

What I don't understand is this: Once these robots take everyone's jobs, and they have no money to spend, who will buy the products that the robots are producing?

Where will income tax come from if no one is earning a salary.

Governments are going to have to find other taxes to replace this income.

12 hours ago, TedG said:

You’re pathetic

FYI: That was paraphrased from this&

https://en.wikipedia.org/wiki/A_Modest_Proposal

I have a question for those who want to tax wealth rather than income.

Assume a person's wealth increases 10% over a year. You tax that growth.

Now, the next year, their stock/company loses and their wealth DEcreases by 20%. Do they get a refund based on their net loss?

This IMHO is why wealth taxes will not work. Not to mention that in order to pay the tax, the rich dude may have to sell part of his company or shares, which would impact the market and potentially cost others money too.

2 hours ago, TedG said:

If someone's net worth is based on the valuation of the company they own. What are the flows?

By example, when that some secures loans or other financial instruments on the basis of the valuation.

Do keep up.

4 minutes ago, Hanaguma said:

I have a question for those who want to tax wealth rather than income.

Assume a person's wealth increases 10% over a year. You tax that growth.

Now, the next year, their stock/company loses and their wealth DEcreases by 20%. Do they get a refund based on their net loss?

This IMHO is why wealth taxes will not work. Not to mention that in order to pay the tax, the rich dude may have to sell part of his company or shares, which would impact the market and potentially cost others money too.

Why does taxing the rich have to be a taxation on their capital?

Closing and/or dramatically reducing loopholes that facilitate tax avoidance would also tax the rich.

Capping Roth Conversions is an example.

12 hours ago, TedG said:

How many jobs would he need to create to satisfy you?

1 more job for himself

5 hours ago, HappyExpat57 said:

We're worse off now than during the gilded age. Income disparity is much greater, the distance between the haves and the have nots is at a proportion never seen before in the written history of the planet. The difference is, during the gilded age, the haves contributed much more than this current breed of oligarchs whose sole purpose is to amass wealth at the cost of global society. Some examples:

1. Large-Scale Philanthropy

Modern philanthropy was largely invented during this era. Tycoons donated massive portions of their wealth to public causes:

• Libraries: Andrew Carnegie financed the construction of over 2,500 public libraries globally, helping democratize access to education.

• Education and Health: John D. Rockefeller funded the creation of the University of Chicago and the Rockefeller Institute for Medical Research.

2. Infrastructure and Industrial Growth

These businessmen laid the groundwork for America's modern economy by scaling up core industries: [1]

• Railroads: Tycoons like Cornelius Vanderbilt connected distant cities, allowing for a unified national market and efficient, cross-country travel.

• Steel: Andrew Carnegie and J.P. Morgan revolutionized steel production, providing the physical materials necessary for the nation's growing cities, railroads, and bridges.

3. Cultural and Civic Institutions

The richest families funded premier arts, educational, and cultural institutions that remain foundational today: [1]

• The Arts: Financiers funded major museums and cultural centers, such as New York's Metropolitan Museum of Art.

• Universities: Wealthy donors heavily endowed many of the country's elite private universities (e.g., Stanford University, Vanderbilt University).

Are we ... worse off ? Think that comes down to the individuals, and what they want, and or, if the try to achieve their goals. I simply wanted to retire early.

Myself, I've never been better off. Partly because I changed locations, TH for USA ...

BUT ... had I stayed in USA, without even continuing to work, my income would have increased, rental property, would have increased higher than inflation, along with the equity being the same investments, 3-4-5 fold, since 2000, when I retired.

Some folks do something, some folks care not to do anything. Live with your choices, don't complain about your failures.

Haves & have nots = earners & non earners. Choice has always been yours.

5 hours ago, HappyExpat57 said:

We're worse off now than during the gilded age. Income disparity is much greater, the distance between the haves and the have nots is at a proportion never seen before in the written history of the planet. The difference is, during the gilded age, the haves contributed much more than this current breed of oligarchs whose sole purpose is to amass wealth at the cost of global society. Some examples:

1. Large-Scale Philanthropy

Modern philanthropy was largely invented during this era. Tycoons donated massive portions of their wealth to public causes:

• Libraries: Andrew Carnegie financed the construction of over 2,500 public libraries globally, helping democratize access to education.

• Education and Health: John D. Rockefeller funded the creation of the University of Chicago and the Rockefeller Institute for Medical Research.

2. Infrastructure and Industrial Growth

These businessmen laid the groundwork for America's modern economy by scaling up core industries: [1]

• Railroads: Tycoons like Cornelius Vanderbilt connected distant cities, allowing for a unified national market and efficient, cross-country travel.

• Steel: Andrew Carnegie and J.P. Morgan revolutionized steel production, providing the physical materials necessary for the nation's growing cities, railroads, and bridges.

3. Cultural and Civic Institutions

The richest families funded premier arts, educational, and cultural institutions that remain foundational today: [1]

• The Arts: Financiers funded major museums and cultural centers, such as New York's Metropolitan Museum of Art.

• Universities: Wealthy donors heavily endowed many of the country's elite private universities (e.g., Stanford University, Vanderbilt University).

Well put.

The haves have gone from social responsibility to wanting more for themselves.

The loony left never had an issue with billionaires when the likes of deranged leftist billionaires Soros, Dorsey, Bezos, Zuckergerg et al ruled the roost. Pumping out leftist disinformation, helping to fling our borders open for every variety of scumbag to come waltzing in to rape, pillage and vote.

But then. But then Zuck and Bezos got red pilled. Gates got hobbled by the Epstein files. Based Musk rose to no1 spot. And the left crapped their pants knowing they lost their disinformation and election cheating network. So they wah wah wah.

A more dishonest bunch never existed.

1 hour ago, SunnyinBangrak said:

The loony left never had an issue with billionaires when the likes of deranged leftist billionaires Soros, Dorsey, Bezos, Zuckergerg et al ruled the roost. Pumping out leftist disinformation, helping to fling our borders open for every variety of scumbag to come waltzing in to rape, pillage and vote.

But then. But then Zuck and Bezos got red pilled. Gates got hobbled by the Epstein files. Based Musk rose to no1 spot. And the left crapped their pants knowing they lost their disinformation and election cheating network. So they wah wah wah.

A more dishonest bunch never existed.

Looney left had no prob with all these multi millionaire lefties ...

Or the other looney left millionaires, stated they'd leave the USA if Trump won

Edited June 19Jun 19 by KhunLA

The people that are not able to create wealth always want to take from those that do.

It's always the same: "What the honorable member is saying is that he would rather the poor were poorer provided the rich were less rich."

22 hours ago, Real Name Hidden said:

Trillionares could be stewed, roasted, baked, or boiled, and their skin could even be used to make fine gloves and boots.

Musk created self-driving cars, which I hope will improve transit.

What have you created?

Only wealthy people can take on these massive projects.

But yes, some of them are doing harm with their wealth and buying off politicians.

It can work both ways.

Good cop, bad cop.

Good trillionaire, bad trillionaire.

Edited June 19Jun 19 by save the frogs

9 hours ago, Chomper Higgot said:

By example, when that some secures loans or other financial instruments on the basis of the valuation.

Do keep up.

Sort of like a home equity loan?

9 hours ago, Chomper Higgot said:

Capping Roth Conversions is an example.

When you move the money, you pay taxes. Correct?