Would such a windfall really be so sickening? A barista might say so.
I'm not a barista and I say it's sickening.
Just to throw the rich a bone, if I ran the world, every single cent you owned above, say, $50 million gets taxed at 99%.
this post was submitted on 16 Aug 2024
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The thing is, it's not even necessary to be this drastic. Feel free to start negotiating from this point (tax all wealth above $50 million) but even settling for a 2% tax on wealth above $1 billion would be good. You can ease into it with a 1% tax on wealth above $100 million.
This wouldn't really affect the living standard of anyone wealthy enough to be taxed. Interest on invested assets will pay the tax easily. That's what Biden meant by "nothing will fundamentally change" for the wealthy.
If you have $1 billion you will probably be living off of $40 million in interest per year. A 1% tax would mean $9 million of that is taken as wealth tax (plus there will be some other income or capital gains tax). You will be fine.
That might still leave then enough surplus to accumulate the capital needed to buy your voters and vote you out.
No one is so brilliant at the business of coffee to be worth this much.
No one is [...] worth this much
FTFY
It is absolutely insane how out of whack executive compensation has gotten.
Agreed. I just wanted to further highlight the absurdity. But your version is accurate.
People still paying for SB coffee think he is