Politics Guillotine time

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The problem isn't these people are rich. The problem is 1% of the population controlling 50% of the wealth. They can survive on $5 billion. No one needs $250 billion. The problem is a tax code that enables them to avoid paying their share. The problem is any time someone suggests they pay a dime more they act like they are persecuted and threaten to take down the whole country by putting an unqualified megalomaniac senile sociopath in the White House so they can get a tax cut.
 
Amend. The problem isn't just that these people are rich.
That's like saying that the problem isn't that some people have more money than others, it's that some people have less money than others. These are only separable conceptually, not in reality.
 
I'm a socialist.
If someone makes a lot of money and wants to enjoy cool house and car and boat, OK. Up to a limit. I support steep income tax and a wealth tax of 100% on all wealth over $5 billion. Because after that it's monopoly money. And the rest of us go hungry, homeless, uneducated, sick.
Incidentally the lower end, if there is such a thing, of the billionaires are the artists and athletes who made it on talent. Few came from wealth. The top ranks are parasites.
 
I'm a socialist.
If someone makes a lot of money and wants to enjoy cool house and car and boat, OK. Up to a limit. I support steep income tax and a wealth tax of 100% on all wealth over $5 billion. Because after that it's monopoly money. And the rest of us go hungry, homeless, uneducated, sick.
Incidentally the lower end, if there is such a thing, of the billionaires are the artists and athletes who made it on talent. Few came from wealth. The top ranks are parasites.
Splitting hairs here... I think it's pretty much Monopoly money over $10 million... Definitely in the millions though. Far lower than a billion.

The average American could lay down $1 every second for 24 hours and replace their household income for the year in a single day. About $84,000

A million dollars would take approximately
11.5 days, whereas a billion dollars would take over 31 years and 8 months.
 
Dunno. One can spend more than $10M on a house. I personally haven't, but there are houses that sell for that much.

Now, maybe you'll counter that no one needs a house that big or that opulent. And that's surely true, but no one needs a diet coke or a jet ski or a ticket to "Melania" or a hand job from a massage parlor either.

I'd set the limit at the maximum that someone could reasonably spend and enjoy, assuming that they enjoyed absurdly lavish expenditures.
That's probably in the low billions. After you've bought 10 or 12 houses, 5 or 6 yachts, a few airplanes, fine clothes and jewelry, what else is there?
Investments don't count towards this limit.

barfo
 
Dunno. One can spend more than $10M on a house. I personally haven't, but there are houses that sell for that much.

Now, maybe you'll counter that no one needs a house that big or that opulent. And that's surely true, but no one needs a diet coke or a jet ski or a ticket to "Melania" or a hand job from a massage parlor either.

I'd set the limit at the maximum that someone could reasonably spend and enjoy, assuming that they enjoyed absurdly lavish expenditures.
That's probably in the low billions. After you've bought 10 or 12 houses, 5 or 6 yachts, a few airplanes, fine clothes and jewelry, what else is there?
Investments don't count towards this limit.

barfo
This person seems to think $350k per year is where happiness peaks.


I wouldn't put a maximum on income anyway. I think the 70% to 90% tax on income over a 3 million would be good.

Also make stock buybacks illegal.

Probably a wealth tax or some kind. Maybe over $20 million...
 

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