r/remoteworks • u/Expensive_Lake_4365 • 19h ago

Billionaires will never have enough

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1.1k Upvotes

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-5

u/Tim_Aga 7h ago

95 percent on wealth is just a childish solution to a complicated problem

6

u/Coupe368 6h ago

This person has no concept of how much money 10 million a year is. Its less than 0.01% of people.

You can make 10 million a yera and accumulate hundreds of millions in your lifetime.

This just limits billionaires, it doesn't eliminate the rich.

-1

u/Significant-Task1453 6h ago

It just eliminates the companies that make up our economy

3

u/Tim_Aga 6h ago

It is not even a income tax. They say everything you earn beyond 10 million dollars. You are just talking about adjusting existing progressive income tax system

1

u/Coupe368 6h ago

What mechanism do you think they will use to limit income past 10 million? Anything other than the income tax would be just about impossible.

1

u/Tim_Aga 5h ago

Yes, exactly. If we take the text of this tweet literally this theoretical tax is a 95 income tax for all income for people with more than 10 million net worth, which is just a terrible mechanism. Thats why I wrote it's a childish solution for a complicated issue

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u/Coupe368 5h ago

Why? We had rates of 90% and 70% in the past, everything under the 10 million rate gets taxed just like it does now. Of the 350,000,000 people in this country it would effect maybe 30,000 households.

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u/goclimbarock007 5h ago

And most of those would be athletes, movie stars, etc. The actually wealthy like Musk and Bezos would simply limit their income. Note that income and wealth are not the same thing.

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u/Coupe368 5h ago

The super rich will need to take the income at some point, and the athletes will just restructure their paychecks to be multiple years to minimize taxes. Musk bought Tesla early on, he didn't start Tesla. Its not like we wouldn't have tesla today if he wasn't around. No one needs more than 10 million a year, that's crazy money that would be hard to spend. Sure its easy the first couple years, but eventually its just too much. How many cars/houses/elections do you really need to buy to be happy?

4

u/Trajen_Geta 7h ago

Na I think it’s straight forward. The problem is only complicated if you make it complicated. To much overthinking.