Elon Musk's net work is at least $670 billion.
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Elon Musk's net work is at least $670 billion.
If we implemented a 1% wealth tax, the US would collect $6.7 billion from this one man alone. Elon would still be the wealthiest person in the world.
To put that into perspective, the bottom 50% of wage earners in the US pay $63 billion in federal taxes.
A 1% wealth tax on this one individual would support the US government as much as the taxes collected from 8 million modest earners.
@augieray that has failed in every country that has ever tried it.
Also the income started as a tax on the rich and look how that turned out.
These are bad ideas by poor thinkers. -
Elon Musk's net work is at least $670 billion.
If we implemented a 1% wealth tax, the US would collect $6.7 billion from this one man alone. Elon would still be the wealthiest person in the world.
To put that into perspective, the bottom 50% of wage earners in the US pay $63 billion in federal taxes.
A 1% wealth tax on this one individual would support the US government as much as the taxes collected from 8 million modest earners.
@augieray I generally agree with this type of tax. But I'm always curious, how do we propose that he pay it?
Would he need to be forced to sell Tesla shares to pay it out in cash? None of these uber rich dudes tend to have any actual assets to tax, just these arbitrarily made up valuations.
Thoughts?
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@augieray that has failed in every country that has ever tried it.
Also the income started as a tax on the rich and look how that turned out.
These are bad ideas by poor thinkers.@rusty_shackleford I wasn't so much suggesting a wealth tax as making a point. I'm open to your suggestions as to what would be a fairer way to implement taxes so that we address the growing wealth gap and have a fairer tax system.
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@augieray I generally agree with this type of tax. But I'm always curious, how do we propose that he pay it?
Would he need to be forced to sell Tesla shares to pay it out in cash? None of these uber rich dudes tend to have any actual assets to tax, just these arbitrarily made up valuations.
Thoughts?
@adron Yes, if a wealth person needed to sell some stock to pay their taxes, then that's hardly a penalty.
And valuations aren't arbitrary. If public company stock is worth what the market will pay, and private companies can raise cash at enormous valuations, then the value is there, and not at all arbitrary.
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@augieray I generally agree with this type of tax. But I'm always curious, how do we propose that he pay it?
Would he need to be forced to sell Tesla shares to pay it out in cash? None of these uber rich dudes tend to have any actual assets to tax, just these arbitrarily made up valuations.
Thoughts?
-
Elon Musk's net work is at least $670 billion.
If we implemented a 1% wealth tax, the US would collect $6.7 billion from this one man alone. Elon would still be the wealthiest person in the world.
To put that into perspective, the bottom 50% of wage earners in the US pay $63 billion in federal taxes.
A 1% wealth tax on this one individual would support the US government as much as the taxes collected from 8 million modest earners.
@augieray billionaire welfare, the only handouts actually supported by the GQP
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Elon Musk's net work is at least $670 billion.
If we implemented a 1% wealth tax, the US would collect $6.7 billion from this one man alone. Elon would still be the wealthiest person in the world.
To put that into perspective, the bottom 50% of wage earners in the US pay $63 billion in federal taxes.
A 1% wealth tax on this one individual would support the US government as much as the taxes collected from 8 million modest earners.
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R ActivityRelay shared this topic
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Elon Musk's net work is at least $670 billion.
If we implemented a 1% wealth tax, the US would collect $6.7 billion from this one man alone. Elon would still be the wealthiest person in the world.
To put that into perspective, the bottom 50% of wage earners in the US pay $63 billion in federal taxes.
A 1% wealth tax on this one individual would support the US government as much as the taxes collected from 8 million modest earners.
@Augie Ray Under Roman emperors it was not unusual to get extra funding by declaring extremely wealthy people enemies of the state...
They would then be executed and their money seized.
Maybe worth considering...
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Elon Musk's net work is at least $670 billion.
If we implemented a 1% wealth tax, the US would collect $6.7 billion from this one man alone. Elon would still be the wealthiest person in the world.
To put that into perspective, the bottom 50% of wage earners in the US pay $63 billion in federal taxes.
A 1% wealth tax on this one individual would support the US government as much as the taxes collected from 8 million modest earners.
@augieray taxing the wealth of the worthless, is the surest way to pop the ballooned US stock market...
Where do we sign ? -
Elon Musk's net work is at least $670 billion.
If we implemented a 1% wealth tax, the US would collect $6.7 billion from this one man alone. Elon would still be the wealthiest person in the world.
To put that into perspective, the bottom 50% of wage earners in the US pay $63 billion in federal taxes.
A 1% wealth tax on this one individual would support the US government as much as the taxes collected from 8 million modest earners.
And this used to be my position.
Now I want to take $669.5 billion from him the first year.
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@noodlemaz Oops, correcting. Thanks.
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Elon Musk's net work is at least $670 billion.
If we implemented a 1% wealth tax, the US would collect $6.7 billion from this one man alone. Elon would still be the wealthiest person in the world.
To put that into perspective, the bottom 50% of wage earners in the US pay $63 billion in federal taxes.
A 1% wealth tax on this one individual would support the US government as much as the taxes collected from 8 million modest earners.
and he wouldn't even notice the money, whereas all of us in the bottom 50% of earners would very much benefit from keeping more of our small incomes to spend in our own communities instead of going to corrupt GOPs diverting everything we earn into private pockets like SpaceX
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@augieray I generally agree with this type of tax. But I'm always curious, how do we propose that he pay it?
Would he need to be forced to sell Tesla shares to pay it out in cash? None of these uber rich dudes tend to have any actual assets to tax, just these arbitrarily made up valuations.
Thoughts?
i don't see the difficulty, i propose that he either pay the tax assessed or go to federal prison until he does feel moved to pay it
you do know that regular people have their money taken right out of their bank accounts if they owe taxes? and if they try to evade taxes, they are jailed?
why is Elon deserving of more rights than us?
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Elon Musk's net work is at least $670 billion.
If we implemented a 1% wealth tax, the US would collect $6.7 billion from this one man alone. Elon would still be the wealthiest person in the world.
To put that into perspective, the bottom 50% of wage earners in the US pay $63 billion in federal taxes.
A 1% wealth tax on this one individual would support the US government as much as the taxes collected from 8 million modest earners.
@augieray I think we should implement a 99% wealth tax. He’d still be plenty rich enough
