Ok, then the solution seems to be to keep going higher until it does help someone. I’m very comfortable not stopping at double.
Doubling 0% is still 0%. No wonder it doesn’t help anyone.
Of course, he probably does pay some taxes, in which case, doubling that would obviously help people. He’s so full of shit.
Isn’t it possible that he doesn’t pay any taxes at this point. He could be spending so much on R&D that it cancels out the taxes he owes.
For someone of his wealth, it’s essentially nothing, but I’m sure he pays a little bit here and there. Certainly nothing anywhere near what he should be paying.
So he’s just confirming that he pays way too little? If one of the richest people in the world would have zero impact doubling their taxes then the taxes are outrageously low, right?
Like we all know this but it’s nice to see him admit it (even if he’s smug about it). And IDK why he thinks doubling is some wildly high threshold. Assuming he pays more than zero, I’m sure the population would be happy to keep hitting him with exponential increases until morale improves.
They’ve forgotten that taxes were the compromise
This was exactly my read as well. It’s wild how few people can see “the other side of the coin” of what they say.
Yea but we could give him a 20% wealth tax and he would still be one of the wealthiest people on the planet…
So, double his taxes and 20% wealth tax. We all agree it’s not a big deal
We weren’t thinking about “doubling”…
My solution is that everyone pays the same rate and let the billionaires set that rate. They’re good with the 30% or whatever it is we pay? Let them pay it too. I wonder what rate they’d set it at. 10? 5? That would be nice for us.
What you’re talking about is called a flat tax. It actually can’t ever work, because there are always edge cases, ways of shifting around the money so that the rich person still gets it but it doesn’t count as income so they don’t get taxed on it… So you wish you could have a simple solution but it’s impossible.
We could move towards that, if we combined passive income with active income, and also if we taxed loans to multi-millionaires as income.
But it will never be simple because people will always try to find ways to game the system, both legally and illegally.
In specific, answer to your question, though, rich people would say to eliminate all income tax of all kinds and replace it with sales tax. Then the poor, the children, the elderly, all those people without jobs get screwed. And millions of people die as a result.
Nah, it should absolutely scale upwards. If they lose the incentive to hoard more money because all the excess gets taken away, they’ll have fewer opportunities to harm people.
Of course, we should also remind them that the alternative would be guillotine.
I don’t disagree, but it shouldn’t scale downwards. A billionaire should not be paying a lower percentage than someone who works for a living.
Teaching the rich is the moderate alternative!
They would set it at zero and continue looting until there is nothing left.
Sad but probably true… People need to quit thinking America as a culture, left or right, isn’t the problem. Well tbf the problem is probably bigger than the nations… Nations are like businesses and just get used.
