▲ 253 ▼ Larry Page, Sergey Brin, and Peter Thiel All Fled California’s Billionaire Tax. Nvidia’s CEO Isn’t Going Anywhere. Even With an $8 Billion Bill Coming His Way (finance.yahoo.com) submitted 1 day ago by Mustachius_Grumpius to c/technology@lemmy.world 43 comments fedilink hide all child comments
[–] ChicoSuave@lemmy.world 49 points 19 hours ago (6 children) Taxes are how to get rid of billionaires. Tax the rich! permalink fedilink source hideshow 6 child comments replies: [–] kingkong@lemmy.world 6 points 17 hours ago (5 children) sure i dont mind but rather do land value tax and all of them should have to pay 50% tax as if they liquidated their holdings then at the time of leaving and market value of all assets. like most wealth tax that is. income tax based then. 5% isnt even much remove income tax instead permalink fedilink source parent hideshow 5 child comments replies: [–] ChicoSuave@lemmy.world 3 points 3 hours ago (3 children) A tax aimed at their worth would help permalink fedilink source parent hideshow 3 child comments replies: [–] kingkong@lemmy.world 1 point 2 hours ago thing is the closest easiest tax to implement that would target the elite networth is the land value tax not wealth tax because they cannot move land. it literally is right there cannot be hidden. they may argue about the value but they cannot escape. its the least bad tax as well. but homeowners keep on complaining like little girls that boomers cant pay for it except boomers have already been bailed out by 2-3 generations already they stole futures from and now they still complain whine moan while voting for nimby policies they are literally destroying multiple generations putting them and us all into slavery for their own gain because they are the most spoiled brat generation to have ever walked the earth. so sick of it. just tax them until they all go bankrupt. 20% lvt will cover income tax and sales tax for the whole country permalink fedilink source parent [–] johntash@eviltoast.org 1 point 2 hours ago (1 child) Not disagreeing, but how would that work? Most of their worth isn't going to be liquid so you'd have to take some sort of average for the year and force them to sell assets? I guess it could be something like RMDs if above a certain threshold? permalink fedilink source parent hideshow 1 child comment replies: [–] kingkong@lemmy.world 1 point 2 hours ago* excuse me most of their worth isn't going to be liquid because they made it illiquid by design and every incentive to pump their own assets we are asking for real valuation if they want to avoid taxation. meaning the stock market housing market all bubbles will be much more muted if they dont wanna pay the taxes. the whole reason for the extreme bubbles in housing is precisely for the buy hold die strategy while paying almost no taxes and instead use the borrowed money to buy up everything and enslave multiple generations with borrowed money off hot air balloon money. either they can sell covered calls on their own stock sell their stock or dividends. or they can take out loans on the stock or take out loans on their house or rent it out for extra income i dont care they have millions and billions in value so go tap it and pay the tax if you dont wanna pay as much tax lower the valuation or extract value from it to pay the tax no one cares. permalink fedilink source parent [–] Valmond@lemmy.dbzer0.com 3 points 11 hours ago No no just tax the rich, no convoluted scheme they can avoid. permalink fedilink source parent
[–] kingkong@lemmy.world 6 points 17 hours ago (5 children) sure i dont mind but rather do land value tax and all of them should have to pay 50% tax as if they liquidated their holdings then at the time of leaving and market value of all assets. like most wealth tax that is. income tax based then. 5% isnt even much remove income tax instead permalink fedilink source parent hideshow 5 child comments replies: [–] ChicoSuave@lemmy.world 3 points 3 hours ago (3 children) A tax aimed at their worth would help permalink fedilink source parent hideshow 3 child comments replies: [–] kingkong@lemmy.world 1 point 2 hours ago thing is the closest easiest tax to implement that would target the elite networth is the land value tax not wealth tax because they cannot move land. it literally is right there cannot be hidden. they may argue about the value but they cannot escape. its the least bad tax as well. but homeowners keep on complaining like little girls that boomers cant pay for it except boomers have already been bailed out by 2-3 generations already they stole futures from and now they still complain whine moan while voting for nimby policies they are literally destroying multiple generations putting them and us all into slavery for their own gain because they are the most spoiled brat generation to have ever walked the earth. so sick of it. just tax them until they all go bankrupt. 20% lvt will cover income tax and sales tax for the whole country permalink fedilink source parent [–] johntash@eviltoast.org 1 point 2 hours ago (1 child) Not disagreeing, but how would that work? Most of their worth isn't going to be liquid so you'd have to take some sort of average for the year and force them to sell assets? I guess it could be something like RMDs if above a certain threshold? permalink fedilink source parent hideshow 1 child comment replies: [–] kingkong@lemmy.world 1 point 2 hours ago* excuse me most of their worth isn't going to be liquid because they made it illiquid by design and every incentive to pump their own assets we are asking for real valuation if they want to avoid taxation. meaning the stock market housing market all bubbles will be much more muted if they dont wanna pay the taxes. the whole reason for the extreme bubbles in housing is precisely for the buy hold die strategy while paying almost no taxes and instead use the borrowed money to buy up everything and enslave multiple generations with borrowed money off hot air balloon money. either they can sell covered calls on their own stock sell their stock or dividends. or they can take out loans on the stock or take out loans on their house or rent it out for extra income i dont care they have millions and billions in value so go tap it and pay the tax if you dont wanna pay as much tax lower the valuation or extract value from it to pay the tax no one cares. permalink fedilink source parent [–] Valmond@lemmy.dbzer0.com 3 points 11 hours ago No no just tax the rich, no convoluted scheme they can avoid. permalink fedilink source parent
[–] ChicoSuave@lemmy.world 3 points 3 hours ago (3 children) A tax aimed at their worth would help permalink fedilink source parent hideshow 3 child comments replies: [–] kingkong@lemmy.world 1 point 2 hours ago thing is the closest easiest tax to implement that would target the elite networth is the land value tax not wealth tax because they cannot move land. it literally is right there cannot be hidden. they may argue about the value but they cannot escape. its the least bad tax as well. but homeowners keep on complaining like little girls that boomers cant pay for it except boomers have already been bailed out by 2-3 generations already they stole futures from and now they still complain whine moan while voting for nimby policies they are literally destroying multiple generations putting them and us all into slavery for their own gain because they are the most spoiled brat generation to have ever walked the earth. so sick of it. just tax them until they all go bankrupt. 20% lvt will cover income tax and sales tax for the whole country permalink fedilink source parent [–] johntash@eviltoast.org 1 point 2 hours ago (1 child) Not disagreeing, but how would that work? Most of their worth isn't going to be liquid so you'd have to take some sort of average for the year and force them to sell assets? I guess it could be something like RMDs if above a certain threshold? permalink fedilink source parent hideshow 1 child comment replies: [–] kingkong@lemmy.world 1 point 2 hours ago* excuse me most of their worth isn't going to be liquid because they made it illiquid by design and every incentive to pump their own assets we are asking for real valuation if they want to avoid taxation. meaning the stock market housing market all bubbles will be much more muted if they dont wanna pay the taxes. the whole reason for the extreme bubbles in housing is precisely for the buy hold die strategy while paying almost no taxes and instead use the borrowed money to buy up everything and enslave multiple generations with borrowed money off hot air balloon money. either they can sell covered calls on their own stock sell their stock or dividends. or they can take out loans on the stock or take out loans on their house or rent it out for extra income i dont care they have millions and billions in value so go tap it and pay the tax if you dont wanna pay as much tax lower the valuation or extract value from it to pay the tax no one cares. permalink fedilink source parent
[–] kingkong@lemmy.world 1 point 2 hours ago thing is the closest easiest tax to implement that would target the elite networth is the land value tax not wealth tax because they cannot move land. it literally is right there cannot be hidden. they may argue about the value but they cannot escape. its the least bad tax as well. but homeowners keep on complaining like little girls that boomers cant pay for it except boomers have already been bailed out by 2-3 generations already they stole futures from and now they still complain whine moan while voting for nimby policies they are literally destroying multiple generations putting them and us all into slavery for their own gain because they are the most spoiled brat generation to have ever walked the earth. so sick of it. just tax them until they all go bankrupt. 20% lvt will cover income tax and sales tax for the whole country permalink fedilink source parent
[–] johntash@eviltoast.org 1 point 2 hours ago (1 child) Not disagreeing, but how would that work? Most of their worth isn't going to be liquid so you'd have to take some sort of average for the year and force them to sell assets? I guess it could be something like RMDs if above a certain threshold? permalink fedilink source parent hideshow 1 child comment replies: [–] kingkong@lemmy.world 1 point 2 hours ago* excuse me most of their worth isn't going to be liquid because they made it illiquid by design and every incentive to pump their own assets we are asking for real valuation if they want to avoid taxation. meaning the stock market housing market all bubbles will be much more muted if they dont wanna pay the taxes. the whole reason for the extreme bubbles in housing is precisely for the buy hold die strategy while paying almost no taxes and instead use the borrowed money to buy up everything and enslave multiple generations with borrowed money off hot air balloon money. either they can sell covered calls on their own stock sell their stock or dividends. or they can take out loans on the stock or take out loans on their house or rent it out for extra income i dont care they have millions and billions in value so go tap it and pay the tax if you dont wanna pay as much tax lower the valuation or extract value from it to pay the tax no one cares. permalink fedilink source parent
[–] kingkong@lemmy.world 1 point 2 hours ago* excuse me most of their worth isn't going to be liquid because they made it illiquid by design and every incentive to pump their own assets we are asking for real valuation if they want to avoid taxation. meaning the stock market housing market all bubbles will be much more muted if they dont wanna pay the taxes. the whole reason for the extreme bubbles in housing is precisely for the buy hold die strategy while paying almost no taxes and instead use the borrowed money to buy up everything and enslave multiple generations with borrowed money off hot air balloon money. either they can sell covered calls on their own stock sell their stock or dividends. or they can take out loans on the stock or take out loans on their house or rent it out for extra income i dont care they have millions and billions in value so go tap it and pay the tax if you dont wanna pay as much tax lower the valuation or extract value from it to pay the tax no one cares. permalink fedilink source parent
[–] Valmond@lemmy.dbzer0.com 3 points 11 hours ago No no just tax the rich, no convoluted scheme they can avoid. permalink fedilink source parent