The secret: they do pay taxes, enormous amounts. A small handful of people pay billions in taxes a year. A wealth tax is not only deeply immoral, but it's a bad idea, and every country that's tried it has watched it fail. If someone with billions in assets doesn't take home a salary, then they don't pay income tax on a salary that year. Get them when they sell stock, like they did when Elon paid ~12 billion in taxes, or when the companies they run pay corporate taxes, like when Berkshire Hathaway paid ~26.8 billion.
It's frustrating because I suspect billionaire taxes are deeply interesting, but that's not what this article is about. The article reads like someone who's 5'9 complaining about NBA players
This crazy notion that money = free speech is wild. If corporations are equated to real(TM) people that have a right to free speech, they can speak all they want, but buying politicians is not free speech.
Take a loan against your assets. No taxes (debt is untaxed), no interest (stock raises cancelling out the interest rate) and no money is lost. You get to feast on the tax contributions of your salaried folk (roads, educated workforce, public health agencies, law enforcement, etc)
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[ 1.9 ms ] story [ 31.0 ms ] threadIt's frustrating because I suspect billionaire taxes are deeply interesting, but that's not what this article is about. The article reads like someone who's 5'9 complaining about NBA players
How is it the author managed to name drop Trump, but avoided Pritzker?
Fair is fair. If you’re going to bash the rich, at least bash fairly.