Comment on Poignant post on the state of things

• Lilith_the_serpent@lemmy.world ⁨1⁩ ⁨year⁩ ago

  Billionaires shouldn’t exist. Everything after $999,999,999 should be taxed 100%. There is absolutely no reason for anyone to ever have a billion dollars. All that tax could pay for universal health care, free education, ending hunger, and homelessness. Billionaires are the problem.

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  • bartolomeo@suppo.fi ⁨1⁩ ⁨year⁩ ago

    Do billionaires actually have billions of dollars cash?

    Everything after $999,999,999 should be taxed 100%.

    This implies it’s income, although if it’s taken as assets + unrealized gains then that would be very cool. Each year, anyone with cash + assets over $999,999,999 will get a bill from the IRS for the entirety of the overage. That would put sell pressure on real estate and stocks while funding (hopefully) social programs. Sounds like a good solution.

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    • TengoDosVacas@lemmy.world ⁨1⁩ ⁨year⁩ ago

      Either they are billionaires or they are not billionaires. Which is it?

      If it’s all stock options, then redistribute their stock options.

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      • bartolomeo@suppo.fi ⁨1⁩ ⁨year⁩ ago

        The way net worth works, if I understand it correctly, is like this:

        Take Bob for example. If Bob has $100M in his checking account, 4 houses worth $100M each, and 500,000 shares of NILE (the company he owns) which are each worth $1,000 each, then it’s said his net worth is a billion dollars. He’s Bob the Billionaire.

        Say he starts selling his NILE shares, but he has so much that each sale puts downward pressure on the price (and spooks investors) so that instead of cashing out for the full $500M he only gets $400M for the sale. Then his net worth is $900M and he’s no longer a billionaire.

        Or say Costa Rica invades his country and both the stock market and real estate markets crash. He’s not Bob the Billionaire anymore, he probably has just the $100M now.

        After writing that example it seems a better threshhold would be $100M, lol. Here’s a good visualization of the resources under the control of Jeff Bezos.

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  • Olgratin_Magmatoe@startrek.website ⁨1⁩ ⁨year⁩ ago

    That, and a land tax

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  • Telodzrum@lemmy.world ⁨1⁩ ⁨year⁩ ago

    So, no corporations and no individual wealth? Who owns a factory or a datacenter? These are fantastically expensive things. A chip foundry cannot exist under these conditions.

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    • Leg@lemmy.world ⁨1⁩ ⁨year⁩ ago

      $999,999,999 no individual wealth

      I don’t think you have a strong enough concept of large numbers to be able to hold a respectable opinion here.

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      • bartolomeo@suppo.fi ⁨1⁩ ⁨year⁩ ago

        Lmao brutal, but -1 for ad hominem.

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      • Cryophilia@lemmy.world ⁨1⁩ ⁨year⁩ ago

        You didn’t answer the question though.

        Who owns a factory or a datacenter? These are fantastically expensive things. A chip foundry cannot exist under these conditions.

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    • Nalivai@lemmy.world ⁨1⁩ ⁨year⁩ ago

      Workers own the factory. Collectively. Through democratic process of any variety.

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      • bartolomeo@suppo.fi ⁨1⁩ ⁨year⁩ ago

        In those situations what do the workers that have no interest in owning the means of production do? Like, if you just want to do your job and go home, is there still room for you under that system? Or does it require active participation from every worker?

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