Taxing is the moderate option.
If people want me to pay more billions, then let’s have that debate.
Nonsense. He’s not open to debating this. Not at all, not fairly. If it were one person, one vote, they’d all lose, and they know it.
more billions
Yeah, citation needed there, j dawg. I don’t believe for a second that space cowboy is paying anything close to his fair share already. I’d be floored if he has ever paid $1B in taxes.
These guys like to include things like payroll taxes, and SS payments, etc. “I pay millions in taxes, just not out of my pocket.”
Yeah, Skippy, we want what’s in your pocket, too, because whatever you paid in payroll taxes, it should have been triple. That’s money that should have gone to your workers, so they’ll get it in the form of government services like health care and free college instead.
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It comes as Mamdani has faced sharp criticisms from other billionaires in recent weeks
What kind of fucking idiot sees this at anything but a good thing?
Republicans, many Democrats, “Independents”.
You know, Americans that on average read and comprehend at a sixth grade level.
You know,
The break at the end always makes me smile!
Peak
And every year states and schools lower the bars for what “x-grade level” is so they can meet minimum performance standards and not lose funding. Which circles back around nicely to the point of the OP.
This is why all these assholes are afraid of Mamdani.
Far too long politicians just bent the knee to the elite and take their word (and bribes) on anything they say… not Mamdani.
I for one don’t believe any one person should be a billionaire, there’s absolutely no reason to be a billionaire… it’s utterly pointless and only serves to hold power over institutions.
I say we give it a try and see if Bezos is right. If it doesn’t help much, let’s try taxing him significantly more and see if that helps. And if that doesn’t work well enough… you get the plan here.
Honestly, this is a really good point. We’ve been trying conservative bullshit (massive tax cuts for the wealthy, huge handouts and ball-cradling for huge MNCs, as well as deregulation) for several decades now, and they keep claiming they didn’t do it hard enough and that’s why it failed.
Let’s try reversing that. And if it doesn’t work immediately, just do it more, repeatedly, for a few decades and we’ll see if it helps the middle class…
Looool Sure! and more food wont feed us /s
I mean yeah, I’m full to the brim. More food won’t help me at all at the moment.
Maybe a little snack. Chocolate? Yes, that would fit.
“You could double the taxes I pay and it’s not going to help that teacher in Queens, I promise you.”
Challenge accepted. Let’s go for triple or quadruple. Let’s just keep hiking it up until he’s not a billionaire anymore.
Don’t forget that Bezos had his tax returns leaks around COVID. The guy who leaked them was given the harshest penalty anyone has ever been given for the same charges. Bezos paid -$4000 in taxes for that year, having owed nothing while receiving the Child Tax Credit for his two children. When he says you can double his taxes, he also knows he’s already gamed the system. Double of nothing is still nothing.
Bezos is correct tho. The double on zero tax is still zero.
thats what needs to be addressed. remove all the deductions and loopholes the oligarches use to game the system
I mean, he might be right, double zero is still zero. I say his taxes should instead be increased by a few million dollars.
I agree!
We should appropriate 75% of the wealth of every person with a net worth over like $100-MM. short of that, remove the cap on FICA.
They got so much money, it’s literally an existential threat to humanity.
You are confusing wealth with money. Excluding bazos, most billionaire wealth is stock evaluations in a bubble market. The second you try to realize that into cash that “money” disappears. Bazos is actually one of the few Billionaires that stocks are low p/e, so you could realize cash pretty easy from him. But this couldn’t be applied to most billionaire.
Governments have no trouble taxing me for property I own. Stocks are property. 🤷♂️ This isn’t rocket science.
Yes, but you are taxing 300+ p/e bubble stocks. What happens when they go to 30 after speculation? We refund the billionaire on wealth that didn’t exist?
We start by taxing shares used as collateral for loans. We need to disincentivize that trick that allows them to pay lower taxes by not actually selling shares. If it can be used as collateral, it has a value and should be taxed as if it were a sale of the shares.
That would be a start. I agree.
Unless you propose some viable alternative you’re just concern trolling for the benefit of billionaires. 🤷♂️
And until you come to with a solution you are advocating for economic collapse trying to extract money from wealth that really didn’t exist.
There it is. You have no plan but you don’t want to disrupt billionaires. You are an enemy of the working class. Simple as that. 🤷♂️
The working class is there own enemy because they keep fighting to have access to now debt that increases billionaire profits.
Welp pack it in people. Can’t tax billionaires they own stocks.
You tax them on valuation and then they will simply invest less in highly volatile (bubble) commodities. You don’t just give up because a current loophole in a broken system might not work in a new system.
Even taxing him 1% on his wealth, once, would dramatically change the shape of public finances in the US
If there was an American in charge that actually wanted to use public funds for their purpose, improving the country and the lives of everyone in it, it could genuinely change the country forever in a multitude of positive ways
Taxing one person, a single percent of their wealth, once.
That’s how much he has squeezed out of your economy. Him reaching down the back of his sofa once, would change one of the biggest economies in the world forever.
You need to take a lot more than 1% to reverse the growth (which is what this needs to do, they already have too much)
And there’s more than one of them.
Why every person in your country isn’t screaming for this is crazy to me, it’s your money they’re hoarding, your future they have stolen
Tax billionaires at 90% and that 10% is generous
You could tax everything over a billion at 99.99% and he’d still be a multibillionaire. It’s absurdity.
Exactly, this is a foolish argument! Anyone especially Mamdani can simply list all the shit you could afford with that money. The elementary school budgets covered by it… anything.
Bezos is a fucking moron to argue that shit.
A lot of people who don’t pay much tax but who really hate it don’t want to think even that hard about it. They love when a billionaire says taxing the rich won’t work.
If people want me to pay more billions, then let’s have that debate.
Nah, bro. No debate necessary. You pay taxes in money or blood. Your choice.
Let’s try anyway
It could backfire, when you try to realize gains in a bubble market you might not like the results.
How’s that boot taste?
As real as the money in a bubble
🙄 This is just you sticking up for billionaires with extra steps.
Allowing them to continue inflating the bubble isn’t better.
I didn’t think so either, bit expect to pay the price with them when we pop it
Popping the bubble earlier is almost always the better outcome for the average person.
Ive seen many people lose their pension after the pop.
That has absolutely nothing to do with taxing Bezos. Unless, of course, you suggesting that rich people like Bezos would hold the country hostage over their billions.
The would and you know it
Sounds treasonous to me.
LOL. Let’s try it and see.
Bezos won’t miss any of that money. Anything above a billion is simply absurd and ridiculous.
“Taking money from me and giving it to a teacher will literally hurt the teacher!”
How did this moron get rich?
By lying shamelessly
He paid to get rid of the education.
As with pretty much every other billionaire he was simply in the right place at the right time.
Abusing our broken system and then manipulating it from within.
A broken clock is right twice a day and being an asshole can get you pretty far
Billionaires existing is a social and policy failure. Tax them until that’s fixed
Taxing bubble evaluations would ultimately crash everyone’s retirements. But it is time we do it. The bubble has to pop.
