This is a reach.
This is the second time I've seen something on kbin trying to dress the reddit migration to the Fediverse up as some hugely patriotic thing.
We don't need that, we don't benefit from it. This is how you create demagogues. Don't infuse nationalism into the Fediverse. That is super problematic and I think you're going to be in for a rude awakening when you see how much more European the Fediverse is than reddit was.
My understanding of the article is that the Moores are suing probably based on the difference between wealth and income.
The Trump policy stipulates that if you own 10+% of a foreign business, you are taxed on the value of that ownership. Valuation is a function of wealth as I understand it because it's folded into how much a person is deemed "worth." Something similar here is property or stocks. If you own so many shares of a company, you are "worth the value" of those stocks even though that isn't currency at your disposal. That's why people are taxed on the value of stocks they sell because now that's moved from an imaginary realm of value into income into the bank account.
The Moores are saying: but valuation isn't income, so you can't tax us.
The lower courts have said: valuation is deferred income, so yes the federal tax on you was legal.
I don't think an argument about discrimination is at all on the table. I think it'll be a more pedantic argument of value, wealth, and income - which of these is taxable and which of these are imaginary (with real outcomes).
This is a complex notion for a non-legal person such as myself. The Trump tax package was absolute bullshit, but even I am surprised this one provision was in it. Surely this was created to hurt people Trump deemed as enemies, such as Mitch McConnell's wife Elaine Chao, but then "ordinary" rich people like the Moores got swept up into it. I am very much in favor of more taxes on the rich, especially for overseas finances, which often is sheltered from federal taxation and transparency. But even I am torn about trying to make the distinction between valuation and income, and which should be taxable.
Setting aside how absolutely corrupt it would be for the court to hear this case let alone ruling in a predictable pro-business decision to explicitly kneecap future wealth tax legislation that doesn't even exist yet, I have to say that the author of this article has a real mastery.
"This is no idle threat,” the Moores said in their petition for review, referring to a federal wealth tax. They cited proposals by the Biden administration and Oregon Senator Ron Wyden to tax billionaires based on their assets, none of which have passed Congress.
"THIS IS LIFE OR DEATH," said people who would still vote for Trump even though his policies hurt them personally, so they're reframing it all as fear-mongering against democrats whose proposals have never gained enough traction since 2017 to ever come close to becoming legislation.
"THE DANGER IS REAL," crowed people rich enough to own tigers on their estate about puppies and kitties they saw painted in a poster.
So, I was on reddit for over 11 years, but I didn't arrive there from Digg. I remember a big kerfuffle surrounding Huffman and his willingness to change critical comments, but I was fairly oblivious to the ramifications of all that. I think I was just largely enjoying the halcyon days of Pao where you didn't have to think about reddit's corporate structure too far beyond how skivvy Conde Nast was.
This current controversy I guess seemed more relevant to me because I exclusively used 3PA to access reddit. Back when I had iPhones, I was paying for one of the tiers of Apollo because I liked it so much. I am pretty sure I used to use alien blue way way back in the day. I used these mainly because reddit didn't have an app on offer at all at these times and reddit for mobile was just inoperably clunky to use. As a share of the market, I was already brand loyal by the time reddit finally saw the writing on the wall that there was a need for an app. Now that I'm on Android, I was using Infinity (mixed feelings there about the fact that Infinity kept operating and I've since migrated and deleted my reddit accounts). I still feel resolved in my decision to leave reddit out of the principle of it all, and solidarity with Christian's mistreatment even though my app of choice is apparently staying online.
You refer to the Tencent movement as a notable moment that shifted the course of reddit. Any other pivotal moments that come to mind for you @arotrios ?
I also suspect that there were inconsistencies between pricing based on the 3rd party app in question. I don't mean that Apollo was being charged more (in proportion) for having a larger userbase compared to apps like Relay or narwhal, but that Apollo was being charged almost double per unit to access API than Relay or narwhal. I am reading between the lines of articles published two *weeks ago about this because it didn't make sense to me why these smaller apps would be able to afford the business model if Apollo had a $20M bill to pay in August.
What gets my goat is why didn't reddit ever just headhunt Christian or other 3PA developers and bring them into reddit corporate to build out their native app? That's what Google or Microsoft would have done to quash competition. Or, to be truly evil, hired Christian and then never let him work on apps again with both an NDA and a non-compete in place.
Huffman regularly calls reddit unprofitable with a heavy dose of ire, but I think there could have been a way to bring a reputable 3PA dev into the fold to keep the reddit native app at least comparable in UX.
Extremely well said, and I would repost you to the bestof magazine if I didn't think bestof communities were lame.
As I keep reading about all of this unfolding, a phrase that keeps rattling around in my brain: oppositional defiance disorder.
I am not a doctor or psychiatrist so I am not being too serious by bringing it up, but I am facetiously curious about who has the worst ODD among all the players of this drama.
Is it Steve Huffman and his refusal to back down? Is it the rexxitors who jumped ship on June 12? Is it the redditors who stayed to troll Huffman and his edicts? Or is it the redditors who stayed and are crafting a bespoke cesspool in snoo's carapace?
What are your thoughts, @arotrios ?
I didn't see Kibby as even having enough votes on the other poll to be a serious contender. It's ... Too mushy cutesy for me, but I say that as someone who is usually pretty adoring of cutesy things. It bothers me that it doesn't have the letter n in it, so seems too far of a departure away from kbin.
I was originally on team Kebin, but just voted for Bink, which I do think is quite cutesy too, but I like that it's an anagram!
What do you mean by this comment? The fact the court might hear a case on the premise that it would stymy future legislation is completely unorthodox and not within the purview of the court. That is overreach, by definition.
The fact that you keep saying "constitutional carry" instead of "permitless carry" already belies the fact that you're likely to push a specific agenda on this topic that isn't data-driven.
So if you charge me with leaving the unnecessary attacks on reddit, I charge you with leaving the disingenuous debate from the right on reddit.
If you aren't including the increased availability of firearms and its outcomes for even self-inflicted death, you're slicing the pie in a very particular way to create a narrative.
Suicide and mental health issues are worth addressing, especially because men are more likely to use a firearm to commit suicide than women are.
The tax implications are far beyond my life experience as someone who qualifies for the 1040EZ form every year lol
I'm not sure if this was a Trumpian Easter egg bomb that was planted and waiting to be discovered for the purpose of further eroding the federal government's ability to raise funds through the IRS. That does sound like it comes from the conservative playbook, but the way this particular case has played out sounds like it required far more foresight than what Trump and his sycophants could have devised without external help.
You make an excellent case about the taxation on value for homes taking place at the municipal level, but the case for stocks is at the federal level, so I can see why business dealings might fall under the scope of federal taxation.
I think if this particular court case was only about the scope of the 16th amendment, then it would be a bit more cut and dry. However, the lawyers for the Moores are also pushing rhetoric that this court decision should also be instrumental in guiding and shaping future legislation on wealth tax and that is so incredibly unethical and problematic. That is not the role of the court and should not be one of its aims.
Because two things are at issue here, I find it hard to pick a side to root for: yes, defeat for the Moores so the law stands and proposals for future wealth tax legislation aren't encumbered by this decision; or yes, a tax policy part of an otherwise regressive tax system implemented by an authoritarian criminal is defeated to really stick it in that guy's eye, but now Pandora's box is opened for nearly all taxation on wealth to have new precedent set and possibly stymy good, progressive legislation proposals.