Comment on But how would they be able to live on that?
BestBouclettes@jlai.lu 4 weeks ago
But it’s not real money in their bank accounts! They can barely go by as is!
Lol … That’s the game every rich person plays and we all accept.
They’re super rich so they can use their imaginary wealth to get even more rich.
When you ask to tax them, the money doesn’t exist or it isn’t what you think it is so you can’t tax them.
We all accept it because these people and their friends own most of the media, so it’s easy for them to make us turn a blind eye to it.
That and they also own enough representatives that there is barely any wiggle room to get out of this mess.
break up their monopolies then.
Sprokes@jlai.lu 4 weeks ago
Aren’t they using that to get loans? They can easily buy anything they want using that as a collateral. So it is real money.
BestBouclettes@jlai.lu 4 weeks ago
Pretty much yeah. It’s virtually unlimited money.
FlyingSquid@lemmy.world 4 weeks ago
Look at Trump. Doesn’t matter that all of his wealth is on paper and he’s in massive debt. Unless he’s in prison, he will die in the lap of luxury.
BestBouclettes@jlai.lu 4 weeks ago
That’s only because they let him do it, in a less corrupt country his ass would be in jail already.
faintwhenfree@lemmus.org 4 weeks ago
Seriously, I saw some of besoz finances (which is a tiny sliver of the big pie) and he got a loan at 0.1% for $2m. Imagine that, and then he doesn’t even have to repay the loan. It’s just as long as he’d pay interest he’s A okay.
Sylver@lemmy.world 4 weeks ago
That’s why they play a whole different game than us. He isn’t worried about paying back that interest or loan, he’s trying to find a way to make that $2m pay him back 1% or more per interest period. They never have to consider the loan amount, because those interest and payments will be done in 10 years while the profits from that loan will explode into hundreds of millions.
See? Anyone can do it, it’s honestly really fucking easy to come up with a million dollar idea. The hard part is that first couple million dollars. If you aren’t born with it, you will literally never have access to that type of wealth.
damnedfurry@lemmy.world 4 weeks ago
You have to pay loans back. Do you think lenders are in the business of handing out free money? They lend because they get a return–if they didn’t, there would be literally zero motivation to lend.
BestBouclettes@jlai.lu 4 weeks ago
Obviously they pay it back, but the assets used as collateral usually grow faster than the interests they have to pay back. Which is pretty much free money.
ImplyingImplications@lemmy.ca 4 weeks ago
Yes, Musk easily found $44 billion to buy out the largest social media platform in existence but there’s absolutely no possible way for him to pay a $6.6 billion dollar tax bill because he doesn’t have that kind of liquidity!
BradleyUffner@lemmy.world 4 weeks ago
Make them take out loans against their portfolios to pay the wealth tax.