this post was submitted on 13 Aug 2026
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Work Reform
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A place to discuss positive changes that can make work more equitable, and to vent about current practices. We are NOT against work; we just want the fruits of our labor to be recognized better.
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- All workers must be paid a living wage for their labor.
- Income inequality is the main cause of lower living standards.
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- Higher wages for underpaid workers.
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What's crazy is that he's only spending less than 1% of what the tax would cost him.
If he spent $10b and managed to save himself a $13b tax bill, he'd still save $3b.
I suspect he's actually spending much more than $100m. He has probably hired expensive attorneys, expensive accountants, expensive PR firms, etc. We have to hope he hasn't hired private detectives, hackers, hit men, etc.
Shit like this makes me think the Billionaires are afraid of wealth tax because much of their wealth isn't real. They can materialize 0.05% to fight legislation, but if they tried to liquidate a significant portion of their stocks or whatever that'd decrease the value of the rest of their fortune, not to mention somebody needs to buy what they sold.
They need other people to think what they own is valuable; and they do that by owning it, as rich people are reputable in many people's eyes. If they sell the feedback cycle inverts
I'm sure that's part of it. Selling enough stock to meet a 5% wealth tax would sometimes mean that selling those stocks would really drop the value of those shares, and therefore drop their on-paper wealth.
But, the simpler explanation is they don't wanna.