What a disgusting shithole america has become.
this post was submitted on 09 Apr 2024
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Become? They call it the American dream because you gotta be asleep to believe it.
I miss George
The American Dream has morphed into this "anyone can be rich" idea.
When I was a kid, it was a house and two cars.
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It's only going to get worse. Money buys elections and Putin, along with American oligarchs have a lot to spend on getting their desired results.
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More needs to be said about taxing the wealthy. 70% for every dollar over 10 million. Wealth tax for those hoarding wealth in stocks.
Fuck 70. It was 91 after WWII.
I read somewhere that that was literally only for a single person. But the fact that taxes were used to aggressively trying to curb wealth hoarding is something we need to look at today
You are way too generous.
Some own islands, land, mansions, art, bonds, cars, boats.
Not generous, but not thorough. Don’t ask me to write the bill!
The New Bad Deal.
Rich get richer and everyone gets fucked on their taxes while dealing with crazy high inflation.
Thanks GOP! YOU GUYS REALLY KNOW HOW TO GOVERN
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And yet poor people keep voting for him, thinking that the used car ~~salesman~~ clown will make them rich
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It’s not like these billionaires are spending this money, so it’s just been invested for 7 years. What’s the old adage, Rule of 72? Given a 10% rate of return, they would be expected to double their money in…
…seven years.
While the tax policies certainly aren’t helping the majority of the population, let’s not pretend compound interest isn’t a thing.
It's not as if that makes it any better. Tax policy should be designed to actively combat the inequality increase created by compound interest, not go along with it.
But, due to their investments they do invest it in large quantities, often spread over a large stock portfolio.
And if we had a fraction of a penny financial transaction tax, we'd get a ridiculous amount of money from the investor class and almost no one else would be affected.
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Till we close the loop holes for these billionaire foundations buying elections (i.e. the Koch network) - billionaires will continue to tip the scales their way. Courts also need to be 10 year appointments, not life time.
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What we need is a controlling asset tax, 99.9% tax on the value of assets controlled beyond $100m
0.1% of a billion dollars is still 10m. Since we're on track to see our first trillionaires soon, I'd argue we need a 100% tax bracket as well. 0.1% of a trillion is 10 billion.
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How likely is it that the trump tax giveaway was all about FUNDING the Fascist takeover of America ? Because they wouldn't have had the money otherwise
But what for? Even with the toys of millionaires (yachts, villas), over a few 100 millions it's only a number.
They don’t just buy toys. They buy laws, politicians, service, deference, control, luxury, immunity…
When you have that much money everything is for sale and people will kiss your ass to sell it to you.
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