So are you arguing that stock valuations mean nothing?
billionaires make it difficult to judge their worth… because as pointed out they are trying to not pay taxes.
Comment on But how would they be able to live on that?
Cypher@lemmy.world 8 months agoa 4% surtax on incomes over $1 million
Musk isn’t earning $220 billion a year, so clearly as I asked, this appears to be based on stock valuation.
People spruiking and sharing absolute nonsense with zero idea of what is income, what is capital and how a “wealth tax” would actually work.
This is why your opponents laugh at you.
eskimofry@lemm.ee 8 months ago
Cypher@lemmy.world 8 months ago
I’m arguing that by FlyingSquid’s own assertion that the Mass. wealth tax could be copied that the numbers make zero sense.
What’s not to get here? Read what he claimed and read the link he provided.
FiniteBanjo@lemmy.today 8 months ago
Stock evaluations have value, and they’re already taxed upon realization of gains. The meme says we should take away Billions of Elon Musk’s stock shares every year, but idk that sounds like a pretty vague and unsustainable plan. Most companies would probably just go private and do a series of offerings to lower evaluations. We need to at least clearly define a bracket of who it effects, is it any stock shares amounting above 1 Billion? 1 Million? Also, why is the rate in the meme a 2.98%?
It’s just not a plan. It’s the opposite of a plan, it’s a desired end result with no details at all.
FlyingSquid@lemmy.world 8 months ago
Who are my opponents?
Also, the question was:
The answer is, they generally don’t leave.
Cypher@lemmy.world 8 months ago
The question was
I know because I asked it and not a single one of you has had a coherent response.
Oh like the tax in Massachusetts?
The tax that would only see Musk pay $575 million and not the ass-pulled $6.6 billion?
Apparently the ultra wealthy but you seem a bit confused.
FlyingSquid@lemmy.world 8 months ago
I copied and pasted the question I answered. I’m sorry you didn’t care for the answer, but don’t ask a question if you don’t want it answered.
As for the ultra wealthy laughing at me, why should I give a shit?
In fact, why should I give a shit if anyone I don’t care about is laughing at me?
jj4211@lemmy.world 8 months ago
Well, maybe not the laughing, but if the wealthy can play in the nuance more confidently and accurately, even if you are right broadly you’ll have a more uphill battle trying to win. If they point to the rhetoric and are and to highlight incorrect details, they say “see, they just don’t understand things, so clearly ignore them”. Or if you “win” they play in the nuance to stack the deck in a different way so they win again, despite you ostensibly getting what you drive for.
However if you have on point critiques and suggestions to consider, maybe it’s easier to drive for a system that reigns then in better, and is less likely to just let them move the loopholes.
As SunTzu wrote: If you know the enemy and know yourself, you need not fear the result of a hundred battles. If you know yourself but not the enemy, for every victory gained you will also suffer a defeat.
Bytemeister@lemmy.world 8 months ago
Answer found in less than 10 seconds on the web. taxfoundation.org/taxedu/glossary/wealth-tax/
It’s not really the ultra wealthy, it’s the ironically impoverished sycophantic masses repeating pro-kleptocrat capitalist drivel on the behalf of billionaires.