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6250 clicks; posted to Politics » on 01 Mar 2021 at 10:48 PM (6 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



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2021-03-01 7:42:56 PM  
Fark user imageView Full Size
 
2021-03-01 7:48:00 PM  
It's a start.
 
2021-03-01 7:51:07 PM  
Which is a drop in the bucket for them
 
2021-03-01 7:52:02 PM  
It would be nice.
 
2021-03-01 7:56:23 PM  
That's going nowhere.

Political advertising. No more, no less. Can she come up with something that has a realistic chance to pass?
 
2021-03-01 8:33:54 PM  
Thank you, Senator Warren. Bring the fight and tank the aggro, drag the rest of the party into it.

Never stop making them pay.
 
2021-03-01 8:57:07 PM  
But think of the lost shareholder value jobs! You people are monsters!
 
2021-03-01 9:44:00 PM  
Yes.  Do it.  Buy your election chances not with sucking up to big donors, but with giving people what they want and telling them so.
 
2021-03-01 10:33:14 PM  
Think of the wars we will afford now
 
2021-03-01 10:49:31 PM  

vudukungfu: Think of the wars we will afford now


Wars aren't included. Those are off the books.

Unless Democrat.
 
2021-03-01 10:50:46 PM  
And after paying the tax, they'd still be the 100 richest people.
 
2021-03-01 10:51:57 PM  
i.imgur.comView Full Size
 
2021-03-01 10:52:47 PM  
Talk is cheap, I do not trust the Democrats to actually push for this kind of legislation because it would inconvenience their donors.
 
2021-03-01 10:52:53 PM  

blastoh: Which is a drop in the bucket for them


It's a single speck of vapor accidentally wafting from a perfume vaporizer they forgot they even had, to them.
 
2021-03-01 10:52:59 PM  
$78 billion
That's it?
 
2021-03-01 10:53:05 PM  
Yes, please.

Corporations next.
 
2021-03-01 10:54:44 PM  
$78B seems small compared to their hoardings.
 
2021-03-01 10:55:19 PM  
That's about what the Dept of Education gets in the FY 2019 budget.
 
2021-03-01 10:56:42 PM  
Wouldn't it be nice?  At this point, just do something!
Sadly my financial advisers work for a nut job Trumper.  I get snarky emails from the moron about every 2 months. Subtle attacks on Biden and anything related to crazy liberal ideas or actions.  He literally said there are not enough rich people to tax that would make a difference.
I've been busy trying to find a new adviser, but it's a pain in the ass.
 
2021-03-01 10:57:15 PM  
Fark user imageView Full Size
 
2021-03-01 10:57:51 PM  

Ambivalence: It's a start.


It might be a start but it really highlights how farked America is. $59 billion is chump change in the context of federal budget deficits in the trillions. shiat seems broken.
 
2021-03-01 10:58:42 PM  
Can we just get a pound of flesh instead?

And sell that flesh back to them for a $1 billion/pound?
 
2021-03-01 10:58:44 PM  
Well, all that money was going to go for the next half dozen aircraft carriers, but common folks apparently don't like their're freedumbs as much anymore.
 
2021-03-01 10:59:36 PM  
As a libertarian, I am in favor of this. the ultra wealthy get an extraordinary benefit from a stable government, a strong national defense, and our courts and system of laws in place to protect their wealth. They should pay for it. If they don't want to, they can go find citizenship someplace else, move all their assets, and hope that the local dictator doesn't murder them and take it all.
 
2021-03-01 11:00:04 PM  

Wanebo: That's going nowhere.

Political advertising. No more, no less. Can she come up with something that has a realistic chance to pass?


Opening your negotiations with a proposition in the middle guarantees that any compromise reached favors the other side.
 
2021-03-01 11:01:22 PM  
media4.giphy.comView Full Size
 
2021-03-01 11:06:05 PM  
Fark user imageView Full Size


But seriously, do it.
 
2021-03-01 11:06:11 PM  
Also go after the cheats and frauds like Mercer. Get the people's money back.
 
2021-03-01 11:08:39 PM  
Fine.
Jeeves, gather my checkbook and bring it here.
 
2021-03-01 11:08:59 PM  
Remember, it is only money that you have in excess of $50 million, so if you have $51 million, you only have to pay the tax on the one million that is over.
 
2021-03-01 11:11:32 PM  
So that pays for 2% of M4A. Where's the other 98% coming from. And the money for college education for all. And the money for the student loan bailout. And the money for the GND. And the money for all that new infrastructure we need?

Hell, that barely pays for a month of our military.
 
2021-03-01 11:12:45 PM  

Airius: As a libertarian, I am in favor of this. the ultra wealthy get an extraordinary benefit from a stable government, a strong national defense, and our courts and system of laws in place to protect their wealth. They should pay for it. If they don't want to, they can go find citizenship someplace else, move all their assets, and hope that the local dictator doesn't murder them and take it all.


There are plenty of other countries in which to move their capital to. Singapore would welcome them with open arms. I hear Eduardo Saverin is loving it there.
 
2021-03-01 11:12:45 PM  
The govt lawyers need the work.  Hopefully none of them take a hit when they cannot defend the law.
 
2021-03-01 11:12:50 PM  
As someone who lives in what Americans would consider a "poor" country (it's really a pretty nice place), the sheer amount of money in the US versus what is used to benefit the average person is astounding.

What is even the point of having 50 billion dollars. It's like having a million gold-flaked filet mignons. You can't possibly ever eat it. Unless you have a distribution network you can't sell it. Why would you even want that?

I'd happily take a billion dollars and never do anything I didn't want to forever. What's the point beyond that?
 
2021-03-01 11:17:20 PM  
Fark user imageView Full Size
 
2021-03-01 11:17:22 PM  

bacchanalias and consequences: As someone who lives in what Americans would consider a "poor" country (it's really a pretty nice place), the sheer amount of money in the US versus what is used to benefit the average person is astounding.

What is even the point of having 50 billion dollars. It's like having a million gold-flaked filet mignons. You can't possibly ever eat it. Unless you have a distribution network you can't sell it. Why would you even want that?

I'd happily take a billion dollars and never do anything I didn't want to forever. What's the point beyond that?


Because they don't actually have $50 billion. They have a piece of paper that equates to a certain ownership stake in a certain company that the people whose 401(k)s and pension funds have invested in have valued that company at.

Jeff Bezos and Elon Musk don't have $200B in their vaults. They each own a percentage of their own companies - companies who everyday average people have equated a single share of that company to equate to multi-trillion dollar market capitalizations.

To put it another way. You have a poker hand. I tell you I'll give you $100,000 for your poker hand. If you sell, you have $100,000. If you don't, you have a couple of paper cards that may be worth more or may be worth less.
 
2021-03-01 11:19:35 PM  
Richest 100 Americans Would Pay $78 Billion Under Warren Tax

Lunch money
 
2021-03-01 11:22:21 PM  
But if the IRS is picking the plate, how will all those sweet breadcrumbs trickle down to us?
 
2021-03-01 11:22:32 PM  

Wanderlusting: bacchanalias and consequences: As someone who lives in what Americans would consider a "poor" country (it's really a pretty nice place), the sheer amount of money in the US versus what is used to benefit the average person is astounding.

What is even the point of having 50 billion dollars. It's like having a million gold-flaked filet mignons. You can't possibly ever eat it. Unless you have a distribution network you can't sell it. Why would you even want that?

I'd happily take a billion dollars and never do anything I didn't want to forever. What's the point beyond that?

Because they don't actually have $50 billion. They have a piece of paper that equates to a certain ownership stake in a certain company that the people whose 401(k)s and pension funds have invested in have valued that company at.

Jeff Bezos and Elon Musk don't have $200B in their vaults. They each own a percentage of their own companies - companies who everyday average people have equated a single share of that company to equate to multi-trillion dollar market capitalizations.

To put it another way. You have a poker hand. I tell you I'll give you $100,000 for your poker hand. If you sell, you have $100,000. If you don't, you have a couple of paper cards that may be worth more or may be worth less.


I'm willing to give Jeff Bezos or Elon Musk $100,000 for their investment portfolios.
 
2021-03-01 11:22:42 PM  

bacchanalias and consequences: As someone who lives in what Americans would consider a "poor" country (it's really a pretty nice place), the sheer amount of money in the US versus what is used to benefit the average person is astounding.

What is even the point of having 50 billion dollars. It's like having a million gold-flaked filet mignons. You can't possibly ever eat it. Unless you have a distribution network you can't sell it. Why would you even want that?

I'd happily take a billion dollars and never do anything I didn't want to forever. What's the point beyond that?


50b is only $150 per person.
 
2021-03-01 11:23:05 PM  
Fark's policy analysis (D) always sounds about the same.

"That's a good idea!"
"And it has no chance of happening!"
"And it isn't nearly enough!"
"Are they even trying?"
 
2021-03-01 11:23:06 PM  

litespeed74: Wouldn't it be nice?  At this point, just do something!
Sadly my financial advisers work for a nut job Trumper.  I get snarky emails from the moron about every 2 months. Subtle attacks on Biden and anything related to crazy liberal ideas or actions.  He literally said there are not enough rich people to tax that would make a difference.
I've been busy trying to find a new adviser, but it's a pain in the ass.


As someone who used to be an advisor and now works in a different (non-sales) branch of finance now, good luck. You can't take two steps into an advisory firm without walking into an old white guy who worships the ground Trump walks on.
 
2021-03-01 11:24:00 PM  

Wanderlusting: Jeff Bezos and Elon Musk don't have $200B in their vaults.


LOL, ok then, maybe they don't have printed banknotes in that amount (I'm guessing they literally do though.)

What's the difference if these unchosen, unvetted, narcissistic unaccountable freakshows can exercise economic power just as though they can ship 747s packed with Benjis anywhere they want for whatever reason whims them?
 
2021-03-01 11:24:42 PM  

Monkeyfark Ridiculous: Fark's policy analysis (D) always sounds about the same.

"That's a good idea!"
"And it has no chance of happening!"
"And it isn't nearly enough!"
"Are they even trying?"


I'll add one because I'm bitterly and pointlessly beating a dead horse.

"Did they get the parliamentarians permission first?"
 
2021-03-01 11:26:26 PM  
Seriously that is not enough.

A person who has $10 bil in assets should be paying 99.9% tax on each extra dollar.

Shiat a person with over $100 mil in assets should be paying 99% tax on each extra dollar.
 
2021-03-01 11:26:55 PM  
Wyclef Jean - If I Was President (Live)
Youtube 24Be_O9cHVQ

/Seems relevant.
 
2021-03-01 11:28:29 PM  

BuckTurgidson: Wanderlusting: Jeff Bezos and Elon Musk don't have $200B in their vaults.

LOL, ok then, maybe they don't have printed banknotes in that amount (I'm guessing they literally do though.)

What's the difference if these unchosen, unvetted, narcissistic unaccountable freakshows can exercise economic power just as though they can ship 747s packed with Benjis anywhere they want for whatever reason whims them?


Because the market at large sets the value of those shares. Just ask Jeff Skilling or Kenneth Lay how much their Enron shares are worth today.

Twenty years ago, a small fraction of them could've bought a private jet. Now? They aren't worth the paper they were printed on.

The market is a fickle thing. Who are you to decide if a Monet is worth $50 million or nothing?

PS. You could all make Jeff Bezos worth $0 if y'all just stopped buying the products he sells and using the services he provides.

I haven't bought anything from Amazon ... ever. Not like they are the only source of cheap trinkets and shippable items out there.
 
2021-03-01 11:28:47 PM  

TofuTheAlmighty: $78 billion

That's it?


Agreed. It should be at least 10x that. Every year.
 
2021-03-01 11:30:32 PM  

Langdon_777: Seriously that is not enough.

A person who has $10 bil in assets should be paying 99.9% tax on each extra dollar.

Shiat a person with over $100 mil in assets should be paying 99% tax on each extra dollar.


You would destroy the entire concept of wealth, bankrupt everyone's 401k's and pension funds, and nuke the world economy for the next 300 years.

Guess what happens when Jeff Bezos needs to liquify 10% of his ownership of Amazon in a single year? The value of each of those shares become $0 with supply and demand.
 
2021-03-01 11:32:07 PM  
Would we have a negative tax for folks that go Ted Turner?
 
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