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For the people who want to seize and redistribute wealth from billionaires and ….
Posted on 6/16/26 at 10:52 am
Posted on 6/16/26 at 10:52 am
one Trillionaire, please explain how this would not be a diaster.
Here are the possible top 10 in the US….
1.Elon Musk: $1.2 trillion (Tesla, SpaceX)
2.Larry Ellison: $276 billion (Oracle)
3.Mark Zuckerberg: $253 billion (Meta)
4.Jeff Bezos: $241 billion (Amazon)
5.Larry Page: $230 billion (Google)
6.Sergey Brin: $280 billion (Google)
7.Jensen Huang: $180 billion (NVIDIA)
8.Warren Buffett: $150 billion (Berkshire Hathaway)
9.Michael Dell: $150 billion (Dell Technologies)
10.Steve Ballmer: $145 billion (Microsoft
Almost all are tech related, and all the wealth is in stock values.
Do you take their stock away or tax them so they have to sell stock to get below a certain amount? Now these people are no longer controlling their companies and making the decisions that have made their companies successful.
Where do the liquidated assets go? It would be a one time money grab and crash the stock market. Enlighten me on the actions that you would take to accomplish this. These people would probably take their assets to friendlier lands overnight.
Here are the possible top 10 in the US….
1.Elon Musk: $1.2 trillion (Tesla, SpaceX)
2.Larry Ellison: $276 billion (Oracle)
3.Mark Zuckerberg: $253 billion (Meta)
4.Jeff Bezos: $241 billion (Amazon)
5.Larry Page: $230 billion (Google)
6.Sergey Brin: $280 billion (Google)
7.Jensen Huang: $180 billion (NVIDIA)
8.Warren Buffett: $150 billion (Berkshire Hathaway)
9.Michael Dell: $150 billion (Dell Technologies)
10.Steve Ballmer: $145 billion (Microsoft
Almost all are tech related, and all the wealth is in stock values.
Do you take their stock away or tax them so they have to sell stock to get below a certain amount? Now these people are no longer controlling their companies and making the decisions that have made their companies successful.
Where do the liquidated assets go? It would be a one time money grab and crash the stock market. Enlighten me on the actions that you would take to accomplish this. These people would probably take their assets to friendlier lands overnight.
15
Posted on 6/16/26 at 10:56 am to rltiger
You have to be economically retarded to believe that we can institute these wealth taxes that the left wants and it not have a negative effect on the economy.
Posted on 6/16/26 at 10:58 am to rltiger
You cant argue economics with the left because they lack a basic understanding of it. They just see the world as haves and have nots.
This post was edited on 6/16/26 at 10:59 am
Posted on 6/16/26 at 11:00 am to rltiger
Your talking in reasonable and logical terms. Marxist Dems don't operate that way. It's strictly emotions for them.
Like a female.
Like a female.
Posted on 6/16/26 at 11:06 am to lake chuck fan
Dems equate it to a zero-sum game. For example, since Elon is "worth" $1.2T, that means he took $1 from 1.2 Trillion people.
Posted on 6/16/26 at 11:06 am to rltiger
Wealth taxes don't work, but a few things I'd do if I could wave a magic wand without having to go into details:
1. Raise capital gains tax on high amounts of capital gains (meaning amounts well past "frick you" money).
2. Simplify tax code to disincentivize gaming the system to lower what someone should be paying under (1) above.
3. Pass a constitutional amendment that allows the federal government and state governments to heavily restrict "political speech" aka lobbying, bribery, and buying elections/votes.
4. Revamp anti-trust law to make it easier to break up entities and force individuals to divest when each holds too much influence or power in the market.
To me it matters less how much wealth has so long as that wealth can't be used to basically buy our government.
1. Raise capital gains tax on high amounts of capital gains (meaning amounts well past "frick you" money).
2. Simplify tax code to disincentivize gaming the system to lower what someone should be paying under (1) above.
3. Pass a constitutional amendment that allows the federal government and state governments to heavily restrict "political speech" aka lobbying, bribery, and buying elections/votes.
4. Revamp anti-trust law to make it easier to break up entities and force individuals to divest when each holds too much influence or power in the market.
To me it matters less how much wealth has so long as that wealth can't be used to basically buy our government.
Posted on 6/16/26 at 11:12 am to rltiger
quote:
seize and redistribute wealth from billionaires
Imagine being Elizabeth Warren, reading that Elon Musk has hit the most successful financial benchmark ever achieved, and your literal first thought is, "I should steal a huge percentage of what he's earned."
Posted on 6/16/26 at 11:16 am to rltiger
A related question: Why don't Socialists love Indexed Funds?
Posted on 6/16/26 at 11:17 am to EvrybodysAllAmerican
quote:
You cant argue economics with the left because they lack a basic understanding of it. They just see the world as haves and have nots.
True. I'll add that they don't understand that you can grow wealth. Just because someone is a billionaire does not mean others are poor because of it. Anyone can grow their wealth and someone does not become poorer because of it.
Posted on 6/16/26 at 11:18 am to Undertow
quote:
You have to be economically retarded to believe that we can institute these wealth taxes that the left wants and it not have a negative effect on the economy.
Leftists are economically retarded due to the stupefying effects of their failed ideology.
They never learn.
Russians in Soviet days would get onto any line they saw even not knowing what was available at the other. No matter what it was it was either something they needed or something they could trade for something they needed.
Posted on 6/16/26 at 11:38 am to Yokelhoma
quote:
Wealth taxes don't work, but a few things I'd do if I could wave a magic wand without having to go into details:
quote:
1. Raise capital gains tax on high amounts of capital gains (meaning amounts well past "frick you" money).
Decreases the incentive to invest, people would hold on to assets to avoid paying higher taxes. Market would crash and business would suffer, ironically making the people initially targeted wealth to decrease below the government threshold, leading to a lot less collection.
quote:
2. Simplify tax code to disincentivize gaming the system to lower what someone should be paying under (1) above.
A flat, fair simple tax code would be welcome by all, but you can’t target and punish a group to money grab. They will move their money elsewhere.
quote:
3. Pass a constitutional amendment that allows the federal government and state governments to heavily restrict "political speech" aka lobbying, bribery, and buying elections/votes.
Never going to happen.
quote:This is already in place. By changing this, you would be selectively targeting people and that action would greatly devalue company stock, lower or eliminate dividends, hurt employees and cause downsizing.
4. Revamp anti-trust law to make it easier to break up entities and force individuals to divest when each holds too much influence or power in the market.
quote:
To me it matters less how much wealth has so long as that wealth can't be used to basically buy our government.
What is never mentioned is go after the fraud and spending in government. How about become more efficient instead of looking for more ways to feed the pig.
Posted on 6/16/26 at 11:44 am to rltiger
Wait, you mean ultra high net worth people aren’t liquid in their assets, surely you jest they are literally swimming in their money like Scrooge McDuck.
Speaking of think it’s time for a dip myself……
Speaking of think it’s time for a dip myself……
Posted on 6/16/26 at 11:44 am to rltiger
quote:
For the people who want to seize and redistribute wealth
You mean the chronically jealous?
Those are the idiots who don't even know there would first need to be an Amendment allowing the federal government to levy direct taxes which require apportionment before such a tax could be created and passed.
Posted on 6/16/26 at 11:46 am to rltiger
Taxing people on their income or wealth is intrinsically immoral. It’s theft
Posted on 6/16/26 at 11:47 am to rltiger
I was led to believe the Rockefeller’s had more money than Elon Musk?!
Posted on 6/16/26 at 12:09 pm to rltiger
If you want to see a metric frickton of wealth leave the country, just try to get close to passing "seize and redistribute wealth from billionaires and Elon. They will buy their own country, pass their own laws, and hire the US to provide security.
Posted on 6/16/26 at 12:31 pm to Tigergreg
quote:
I'll add that they don't understand that you can grow wealth. Just because someone is a billionaire does not mean others are poor because of it.
This is what the divide-the-pie folks don’t get and the grow-the-pie folks do.
Posted on 6/16/26 at 12:39 pm to Rip Torner
WHO owns the Federal Reserve?
That private corporation that just prints trillions and trillions out of thin air and controls our entire economy..
That private corporation that just prints trillions and trillions out of thin air and controls our entire economy..
Posted on 6/16/26 at 12:51 pm to PUB
Why is there never any talk by the marxist about cutting spending to help the deficit spending?
Because they want more and more spending, so they gain more and more power. They can distribute it the way they want and take it out of the private sector because having it in the private sector means that is freedom to the people and businesses.
They need to find more ways to get more of our money so they can increase spending. This tax the rich little bit they always talk about is priming the pumps for the people to get behind giving the govt more authority and power to tax, discriminately. Then it won't stop at billionaires, it will make's way to millionaires and all of our 401ks and money we have saved for retirement.
Because they want more and more spending, so they gain more and more power. They can distribute it the way they want and take it out of the private sector because having it in the private sector means that is freedom to the people and businesses.
They need to find more ways to get more of our money so they can increase spending. This tax the rich little bit they always talk about is priming the pumps for the people to get behind giving the govt more authority and power to tax, discriminately. Then it won't stop at billionaires, it will make's way to millionaires and all of our 401ks and money we have saved for retirement.
Posted on 6/16/26 at 12:57 pm to rltiger
quote:
please explain
You are asking financially illiterate people to explain things they have no concept of. You may as well be asking them to design a spaceship.
In addition to the fact that it's not feasible, it wouldn't make a difference.
Elon's $1.2 trillion would maybe pay the interest on our national debt for 1 year.
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