a simple explanation for people wondering why I'm so goddamn angry about billionaires

  1. We really need to decide a number that once you get there, let's call it 1 billion for the sake of argument, once you have a billion dollars, that's it. Everything else above that billion that would be "yours" isnt yours it goes to improve society and keep the economy going.

  2. You are correct except there is no such year as 0BC, it goes from 1BC to 1CE, it's a common mistake, the calculation is correct if measured from 1BC, but is one year off if you meant to measure from 1CE as there is only 2021 years between 1CE and 2022CE

  3. Even discounting for leap years, that's closer to 7.4B and it's still not even close. 0.1B for me would solve all of my and my immediate families issues for like the rest of our lives. I'd be smoking bbq every weekend for community service because I wouldn't have to work. Truly ridiculous.

  4. I think we’re past the point where taxing them will do anything good given how thoroughly they’ve captured the government. BBQing them is the only way forward.

  5. I'm so glad all that "money" he made last year could be worth absolutely nothing tmr, if the FTC or some other organization issues a recall for Tesla's and people lose faith in said company and sell all their stock...

  6. Tax em? Set a Max income and be like congratulations you won capitalism!!! Then funnel the rest of their profits to food, medical, and education sectors. You know things people need

  7. He is taxed, by the way, when he sold off a huge chunk of shares last year. The figure you’ve presented as elons earnings is incorrect. Tesla is a publicly traded company. Tesla’s total earnings are not synonymous to Elons salary. People seem to have difficulty understanding the difference.

  8. We need this on billboards. So when people are sitting in traffic after a 10 hour day they can meditate on this.

  9. In 2021 he sold a massive amount of Tesla stock which is why he had such a massive income that year. Previous years drop significantly, although obviously still a ridiculously high #. But not as high as this number you’re using as an example which paints a different picture

  10. And the brainwashed Murican still believes their neighbor getting govt assistance is the real enemy, not these fucking billionaires.

  11. All of them earn their wealth by exploiting the lower classes below them, so they aren't actually earning or making money but fucking stealing it, indifferently from a thief breaking into your house and stealing your wage, except they do it globally and in masses where even if you could stop time and damn teleport everywhere instantaneously you couldn't match the amount of theft if you'd steal for a living.

  12. Get this liberal tax the rich shit OFF THE FUCKING SUB!!! ABOLISH THE RICH. NO MORE. DESTROY THIS ENTIRE SYSTEM. IN THE WORDS OF LUCY PARSONS, “NEVER BE DECEIVED THAT THE RICH WILL ALLOW YOU TO VOTE AWAY THEIR WEALTH.”

  13. If you calculate back, he's made approximately $163 for each second he has been alive. Every second since the day he was born, he's made more than a worker earning $20 an hour for an eight-hour day.

  14. Here is the real horror, you and me, we are the one who has to fullfill those free money he get, else we starve. Whatever King Elon wants, we have to do, so we can get those scraps he got for free from this made up system, the construct of the state. That's how the system works. It's not just about Elon, it's about our enslavement.

  15. I get that is all on paper, and he doesn't take an actual check. His compensation is 100% in stock. But, since he uses that stock as collateral for the massive loans he lives on, it should be considered income, and taxed as such. But at a higher rate than now. Take all his deductions, because fuck him the racist asshole. Nobody at all should be able to get away with not paying taxes.

  16. Yea, that "But but but its not actual liquid cash" bullshit went out the window when Musk all but rocked up to Twitters receptionist with a bag full of "not actual liquid cash"

  17. What's even more annoying is that many of the things they are buying are just expensive for the sake of being expensive.

  18. The thing is that if any one country implements this it’s quite easy to move business operations elsewhere. All you need to do is get the whole world to agree on this.. how hard can it be?

  19. The bulk of the money made is through products sold in the USA though, simple solution would be to put high tariffs on all of it to make it cost more when imported into the country so you would be worse off moving.

  20. Just embargo those little tax heaven country. Why not? US did it to Cuba for 70 years, Cuba didn't even do anything close to be as destructive as providing the rich with a place to run and smuggle tax money.

  21. Force wage increase, price and rent control. Lock them down and keep them from passing the cost onto others.

  22. Can we all just start calling “billionaires” for what they really are? They’re the biggest welfare queens. It’s almost as if rich capitalists love socialism just for themselves.

  23. I had this bizarre argument I finally deleted, where I was jumped all the hell all over because I was pissed off Etsy wanted my social security number to open a store. An Etsy store. But taxes they said. Of course you have to be taxed!

  24. This is the difference between linear and exponential and the comparison between the two start to fall apart once you get to truly insane numbers. A $1 investment that doubles every 6 years would yield $4x10^50 which is a truly outrageous number over the same 2000 years.

  25. You all keep complaining here with no action being taken. All the top posts are just screenshots from social media of people complaining. Is there something realistic we can do to fix this system?

  26. The billionaires are actually capable of ending poverty, world hunger, paying off student debt and still have billions leftover. Yet they don’t.

  27. I don't think it usually has to do with any threshold of wealth. It has to do with being disconnected from reality and/or being an asshole...

  28. nah, none of this “tax the rich” stuff, smash the whole rotten system, state, capital, both need to be destroyed

  29. We must get into giant, unmanageable crowds and do things to billionaires. They must face real justice NOW!

  30. He asked THE MAN IN CHARGE OF IT to come up with a plan and even he couldn’t do it. “Ending world hunger” is not a thing you don’t just end it with money. No one has a plan on how to do it so the app it is.

  31. Let's make it more fun. Every second from 0AD to 2022 is about 63.7 billion. If you earned a dollar for every second you'd still be nowhere near his wealth

  32. His net-worth is largely from the unrealized value of Tesla stock. Its almost like a strawman argument. We should be calling for the IRS to be fully funded and be given the mandate to go after the wealthy exclusively. We are missing out kn $176 billion a year from the wealthy avoiding taxes.

  33. Stock value isnt all that illiquid when you can take out massive loans on it. Tax everything, including the stock.

  34. Except the rich dont have a job.... the have assets, they borrow the money so its untaxed. They would rather have debt then pay taxes

  35. Yeah but they’re basing it on his net worth. I get it they’re still very rich but they don’t have a billion dollars in cash.

  36. Yeah but that’s the problem. When his net worth goes up $120B that is absolutely income to him. He can sell that or borrow against it but in the current system he doesn’t pay any tax on it unless he sells (which he won’t). Meanwhile some dude making $20/hr has income tax liability. It’s a horrible system that lets the wealthy pay very low taxes while gouging the middle class.

  37. Elon didn’t make that much last year. Your point is still valid, and those greedy fucks deserve to be taxed into oblivion, but these arguments work better with solid facts.

  38. His stock increased in value by that much. The fact that the stock is illiquid is irrelevant when he's able to take out absolutely massive loans on it. Tax everything these people have.

  39. He has a lot of numbers, but that money does not exist. People are trading numbers and not real money on big clubs, arent they?

  40. Our current form of government would have to go away as well. Most of The politicians would probably seek asylum in another country, assuming they aren't stuffed and mounted in a museum so we can teach our children about the bad times.

  41. Taxing them does nothing when they use tricks to avoid paying them, like keeping all of their actual profit in a country where they aren't being taxed, so their profit here is technically zero.

  42. People don't like other people having a lot of money while the rest have to suffer with lower income. Often those billions arent made without cutting corners somewhere, for example with amazon they pay their employees the bare minimum whilst making large profits.

  43. Tax the rich? They are taxed more than anyone else. Problem is that tax money does NOTHING for the average citizen because politicians then use it for themselves.

  44. The rich largely don't pay taxes. And the ones that do pay a far lower effective rate than the rest of us because their income is classified as capital gains.

  45. Yes of course tax the rich but I’m glad some level headed people in this comment section understand net worth and the value of a company vs cash in the CEOs pocket.

  46. again. For the millionth time. If we can all agree that the US govt is corrupt and useless, why do you want to give them more money to do nothing with? All they'll do is line their pockets or waste it to grow their power over us.

  47. The problem is you need to implement laws from scratch to block them from avoiding income tax the way they do. That means they HAVE to take a paycheck not just have it immediately reinvested into fluid assets, making it so that a company can't own a c-levels home so they can dodge property tax, do away with the ability to write off losses (at least above a certain level) from taxes, and a whole host of other things.

  48. or his workers could argue for unionization and fair pay. Something happens when you amass that amount of wealth, you become out of touch with regular society.

  49. Elon doesn’t need even half of that. If he donated a bit of half of that to everything, that could fix a lot of issues

  50. Elon is always continually downplaying his wealth whilst simultaneously openly flaunting his wealth like a little kid.

  51. In his defence he didn't actually earn it. He owned a asset (Tesla stocks) that appreciated that much. If I bought a home and my house trippled in value due to inflation. Do I have to pay 50% profit tax on that valuation? That means I have to sell my home just to pay taxes.

  52. If you got paid $10,000 per hour, 24 hours per day since the year 0 AD, today in 2022 you would have $177B. Elon Musk has $263B. He did NOT earn this.

  53. It’s interesting how people get mad on rich people and they don’t do things to get rich themselves

  54. Worse, the government could do both. 40% of food is thrown away. People going hungry is a feature not a bug.

  55. There is a difference between net worth and income. Net worth is the value of a person's total portfolio which is NOT necessary all realized gain where income is actual liquid realized value. Example: your net worth may include your 401k and may qualify you as being rich because the performance is amazing but it's not income and not taxed unless it's liquidated/taken out as income. And at any time the market could crash and zero it out meaning its not a realized gain. Just because someone is a billionaire it doesn't mean they are paying taxes on a billion. They only pay taxes on actual income and realized gain.

  56. Just to point out that tsla stock has lost all of its 2021 gain as of now. Starting 2021, it was at ~290 and now it is at ~260 ( and will likely to continue to decrease ). Assuming that majority of his wealth is in tesla, one can also say he is has been losing money ( estimated wealth ) since the beginning of 2021.

  57. There's something else. The wealthy tend to keep most of their cash in storage. Because, if you have everything you need, there's nothing more to buy. So, most of cash they earn, does not return to the "money flow". It just dissapears.

  58. I had to explain to my nephew why they don't tax the rich in a simpler form, so in a nut shell they don't tax the rich so they have more money to make more buissness to hire employees to make them more money then repeat...

  59. The truly annoying thing about this is what could Elon musk possibly contribute to making Twitter a better company?

  60. The US taxes earned income & realized capital gains. Most of the people that are billionaires own stock and other capital investments that are worth for some many billions.

  61. The issue is no matter what tax legislation you come up with, the billionaires have enough money to pay an army of tax lawyers to find a loophole

  62. Im not here trying to bs anyone. This system we have currently with fiat and central banks will never allow for financial equality. Through blockchain, we will have a system that gives the smaller tax brackets more power. This is an unstoppable machine.

  63. World hunger isn't really a money issue, its a supply chain issue, theres a ton of donations and food sitting around that will never reach the ultra poor. Governments need stable countries with infrastructure before food can get to thier starving populations.

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