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A one-time 5% wealth tax would bring Silicon Valley’s billionaires’ wealth back to where it was just 31 days ago, on September 7.
When it was "just" 178% higher than on January 1, 2023.
They’d rather let 3 million people lose their health insurance than let that happen.
Graph here: https://cabillionairetracker.org/
Rather than paying their fair share of taxes, Sergey Brin, Pether Thiel, and Patrick Collison prefer to spend tens of millions to manipulate the vote.
Stupefying levels of greed and lack of civil-mindedness.
$45 million in a week: California’s wealthy aren’t holding back to try to stop ‘billionaire tax’
All credits to Gabriel Zucman
So we can hit them with 5% every month
Just hit all billionaires, worldwide, with 100% tax of all wealth over a billion dollars every year. A billion dollars is really an inconceivable amount of money for one person to have. Far more than one person could ever legitimately earn in a lifetime.
Letting them retain one billion dollars is probably far more charity than they deserve, but what can I say? I'm just a softie.
$30 million is generous and plenty to live on. Everything above that is capital that is only to be used to get even more.
Moreover even at $30 million, it's difficult not to fall upwards. You can make really bad decisions, whether cruel, ignorant, reckless, or offensive to the public, and still turn a profit. It's actually an argument against hiring upper management who are already well-to-do.
Like your card's not getting declined for anything, ever. Why keep running up a high score when it makes many others suffer? It's entirely unrelatable to me that anyone could be so fortunate and yet so callous.
Spreading that out would likely create more businesses, art, shows, and everything for them to try. They could spend a life time and not run out of new experiences as is, but they like staring at a chart that looks like it says they are winning.