I said every.penny he has, not every dollar if he sold every asset today.
Comment on But how would they be able to live on that?
dream_weasel@iusearchlinux.fyi 2 months agoWell, if you take the current US “budget” as $4T per year, it’s a bit over $10B per day. So yeah it runs for more than a day.
Of course, this should be treated the same way as if you were to lose your job: you probably cut your expenses so as not to spend all your money in the first 2 weeks. Maybe the US would finally stop paying for tanks the army doesn’t want?
John_McMurray@lemmy.world 2 months ago
dream_weasel@iusearchlinux.fyi 2 months ago
Sorry I guess then I don’t understand the distinction you’re making? It’s not as though stocks are not liquid (or that margin loans are not) or that stocks are all funny money. I suppose if the tax rate was so exorbitant that selling stock would tank the share prices these ultra wealthy folks are holding them I see your point. I don’t think these numbers are that high though.
I agree if you’re saying that the cash-out net worth of these people is lower than their market valuations, but I doubt that it’s so much lower that they are no longer ultra rich. Besides, stocks are still assets to borrow against which is how the game is played at that level, so while the number is “fake” it’s also kinda not.
John_McMurray@lemmy.world 2 months ago
Jesus bud. That was not a complicated statement. Your type never knows what to do with those.
force@lemmy.world 2 months ago
More like stop paying for the maintanence of shitty half a century old equipment that the military doesn’t use anymore that was outdated as soon as it was introduced (cough cough A-10 cough)
dream_weasel@iusearchlinux.fyi 2 months ago
True fact. That said, where I live A10s fly out of Grissom AFB still all the time.