They like to point out that their wealth is "on paper" only and it can't be taxed until it's realized.
I vote we just tax them on paper. Make them give away part of their unrealized investments every year, without selling it. The government can hold onto stocks, etc just as well as any billionaire. They should just seize some percent of their total unrealized wealth every year, full stop.
Close the loopholes. Tax the loans they take out as income. Then add an inequality tax that scales based on the difference between their total compensation vs that of the lowest paid employee or contractor in their company and any related companies, with an additional modifier to penalize layoffs. Make it impossible to get rich without raising everyone else up with you.
Take 1% of stocks, bonds, and any other registered securities, annually.
Have the IRS liquidate it slowly over time, so that IRS sales represent no more than 1% of total traded volume.
Exempt the first $10 million held be a natural person. No exemptions for artificial "persons" like corporations.
Including something for being a monopoly or pushing out other business, property owned, etc would be great as well.
There will be a day when we stop calling this shit "losses" and then comment on it accordingly, this is not that day.
They aren't affected because they haven't lost shit. The banks won't call in their loans because of this, they haven't announced selling their shares that they can't back out of.
The only one of these in realistic danger of losing it all is the Muskrat, because his wealth was made up of make believe and delusion also known as the TSLA stock that has been ridiculously overpriced for a while, even Spaced probably his only worth-wile private company has lost billions in commitments because of his stupidity, and that company is kept alive by the Us government, so when inevitably Trump turns on him that shit is dust too
Yeah a space x is under the gun cause they suck ass and their rocket is bullshit. 30 tons out of 100 still less than Saturn v. nasa did it better with so much less.
Tax them into bankruptcy
They’re good at bankruptcy. Maybe just tax them a reasonable amount for a billionaire. 70% over 20 million seems reasonable. Worst case scenario they leave.
Make them work 10-12 hour shifts, 6 days a week, at the same job and pay rate as their lowest paid part-time employees.
I assume those are interns who likely don't get paid.
That's pretty much every job that's responded to me. A few weren't but most places made it clear that if I'm not willing to put in overtime I shouldn't put in my application. Crunch time is just the standard now. The worst part is even those jobs have thousands of people applying for them, so my odds of even getting noticed at all are tiny. Plus that means any position I get my manager has a thousand resumes lined up just in case they want a rapid personnel switch. Add the fact that a business owner can fire me at anytime without giving a reason, and suddenly even my two advanced degrees won't save me.
I feel like they'll somehow use this to get ahead in the long term somehow. The fucking parasites.
Well, at least there's one good thing to come out of this presidency.
My guess is that they see it as a temporary loss, if they can dismantle the government and all regulations then they would be free to fully bypass labor, safety, environmental, and monopoly restrictions that hinder them today. As much as they seem to get away with now, imagine how bad they will be with zero restrictions.
And what is that called in short? An investment.
They are still up since the election though.
They can afford to be taxed more, raise the wages of all employees to live more than comfortably, offer better benefits to all employees, and significantly lower prices.
They can do far more than that. They choose not to.
Right. All the billionaires can give up something like 95-97% of their total combined wealth and they would all still be billionaires.
