So trickle down means it trickles down to only the people that help maintain their wealth. Their lawyers, their courts, their justices, their politicians, and their media.
There was once a time when the average person could just work a “regular” job, be able to make enough to support a family (or be single) and still have enough to have “enough” to be happy and content 🤔
The dems are responsible for our 38 trillion debt, and we are spending 1 trillion+ every 100 days. where is it all going. I have felt no benefit. #trillions
Cap individual wealth at $50 million. And that's generous. Anything more is automatically deducted for a Greater Good Fund, managed by the AI they want so badly.
In theory I agree, but then you’d also have a mass brain drain exodus of artists, developers, doctors and other professionals who’d make more by crossing a border. And who distributes the funds? Who keeps those distributions honest or safe from corruption and special interests? Elected officials?
When did America ever try communism? When specifically did America ever try having workers control the means of production? I'll wait all day for that answer.
Mostly because they were "communist" in name only or actively sabotaged by the US for being communist. (Ie nationalizing resources US private companies wanted).
I'm not communist myself, but I'm not flippantly against it.
Also are we going to pretend unfettered capitalism hasn't been a disaster?
There are no ethical billionaires. They didn't earn their money, they stole it a thousand different little ways but always at the expense and lives of the socio-economic classes beneath them. There will be no ladder up from them to anyone else.
With people with that kind of wealth in our country, not one per person should ever need to beg for food, shelter or healthcare. But here we are allowing it
The plan is simple: own everything, then people will willingly become slaves for food. They think this will work because rich people who inherited their wealth and paid off their titles never bothered learning history.
I would not be upset if MAGA started using their 2nd Amendment rights to make adjustments to the wealth gap, as soon as they figure out who they vote into office doesn't give a shit about them.
Adjusted for inflation other people have been much richer:
*Catherine the Great (1729-1796) Est net worth today: US$1.5 trillion
*Augustus Caesar (63BC-14AD) Est net worth today: US$4.6 trillion
* Joseph Stalin (1878-1953) Est net worth today: US$7.5 trillion
* Empress Wu (624-705) Est net worth today: US$16 trillion
* Akbar I (1542-1605) Est net worth today: US$21 trillion
* Emperor Shenzong (1048-1085) Est net worth today: US$30 trillion
*Genghis Khan (1227) Est net worth today: US$120 trillion
*Mansa Musa (1280-1337) Est worth ... “Incomprehensible”
@georgetakei.bsky.social This book serves to educate on the rubbish assertions and abject failures of those espousing neoliberalism and presents a saner way forward. A critical tool for all folks ready to fight against the insane wealth and power concentration taking place across our world.
No it's cool because they're totally aligned with solving the pocketbook issues of the millions of Americans living paycheck-to-paycheck that voted for them oh wait actually they're diametrically opposed whoopsie
It's far past unsustainable. It is actually apocalyptic. They individually have more wealth than most governments. Elon could just hire a private army and take over a small country if he really wanted to.
Round them up and arrest them. Force them to give up half of their wealth. They can live comfortably on the rest. America is so backwards man, you make the most evil ppl rich whilst the rest of your country suffers (then they complain on socials about it 😅🤔)
Billionaires took over your government years ago. Just less obviously.
Don't worry, they're in the less-obvious stage here in Germany, but they're there.
#taxtherich
Fuck taking them! They never pay their giddamned taxes to begin with! They should've been indicted for tax evasion & money laundering long ago! NOBODY amasses that kind of fortune legitimately! It should ALL BE STRIPPED from them for redistribution! Leave their asses in the gutter! 😡
Also trying to take over the UK government. Musk is funding Reform (far right) £100 million pounds to run for prime minister and overthrow the current government.
The reason an average person does not want #taxes on the #rich is because they aspire to be in that category someday and worry that the increased taxes will impact them. These dreamers don't realize that the #billionaires that they are supporting today will NEVER let them get up to their level.
I'm over 50, my whole life I've been hearing "tax millionaires", then "tax billionaires", now "tax trillionaires". It's just word salad to upset people as for 50 years we talk but never do.
The wasted products of a nation equal wasted labor. When the allocation of resources is uneven, it's doubtful that a nation deserves to be stable. Eventually economies will implode under this amount of stress, the hoarding of billionaires is unethical, especially when the money- 1/2
Could be utilized for the betterment of society as a whole. Think of the wasted food, products that will consistently remain unsold resulting in meaningless labor. This doesn't count in overproduction at such a scale that it seems ridiculously meaningless 2/2
Yep. And the billionaires are using that money to convince the MAGA and MAGA curious crowd that libs, POC, and the LGBTQ community for their lot in life.
They may want to look up the French Revolution. I'm sure that someone out there knows how to build a guillotine.
As governments allow the shift of production overseas, the lost revenues and related economic activity need to be replaced with benefits, subsidies, government debt, ballooning public sector, rising asset prices, decline, and suffocating middle class taxation.
The Revenue Act of 1913 restored a federal income tax for the first time since 1872. The 1913 tax was only paid by the wealthy and the very wealthy paid a much higher level of tax
The question has to do with taxing an American Citizen’s income, which wasn’t taxed until 1913. Yes we had other taxes before 1913, and the tax code was simpler. So, explain to me WHY we need income tax?
UPDATE ... Stop posting on XTwitter, go ahead and read, just stop posting. Every post that's made is supporting Musk and the MAGATs agenda. This small act will help stop the continued spreading of hate, fear, and fascism.
Oh, come on I think you people are just being too harsh on these poor billionaires. I mean, they don’t understand what it’s like to have to scrap money together to pay the rent or buy food or let medicine go because you can’t afford it but you know, give them a chance to screw us more.
I really just think it should be illegal to have more than like 15 million dollars, like no one even needs that much money; but having over a billion is not something possible without the extreme exploitation of other people and means you have failed as a human.
I once had an economics professor tell the class that the reason why the rich aren't taxed is because there are more of us, the working class, than there are of them. Therefore, the government gets more from us than the rich.
Well, now they have all the money, even if there are fewer of them.
It was about a bunch of rich guys who didn't want to pay taxes - and wanted to violate the king's expansion orders so they could become richer at the expense of the indigenous peoples. But George III was the lunatic tyrant, we're told
Our national debt we decrease drastically if millionaires, billionaires, and now trillionaires were taxed. The working and middle class, under another Orange presidency, should NOT have to carry the country due to the wealthy's tax negligence. #taxtherich
We, the unwealthy, in the US, pay the salaries of government officials...how much are we being forced to pay Musk & Ramaswamy to run DOGE? Their job is literally to slash jobs from honest hard-working people. I want to know how much they will be paid to do that.
In the first quarter of 2024, almost 2/3 of the total wealth in the United States was owned by the top 10 percent of earners. In comparison, the lowest 50 percent of earners only owned 2.5 percent of the total wealth.
Lmao anyone notice how everything trump supporters warned us abt the past 8 years, is all stuff they're now blindly cheering on, after electing the EXACT type of person they were warning everyone against.
The brainwashing power of the media is pretty remarkable
Oddly enough, I saw a post on IG about this over the weekend. They used the example that if someone gave you $5k every day, it would take you a couple of weeks to reach $1m. But it would take something like 30 YEARS to get to $1B.
This increase, from 74 billion to 1T, is a taking of assets from 'the economy of the US' to 'the pockets of these men.' They will insist that the money is 'invested' and 'still in the economy' - but that's bullshit, because all decisions about what that money does remains with them.
It's NOT immigrants or trans folks who are coming after the ACA, Social Security, Medicare, and veteran's healthcare. It's BILLIONAIRES like Musk and Ramaswamy. They push for PLUTOCRACY while hiding behind a made-up Department of Government "Efficiency."
I have met young people who think this is a great thing, that the more billionaires in a country, the better it is for living in that country. Good luck with that! These young people are poor as dirt btw.
Our economic system and infrastructure allowed them to make that money. They need to pool a proper portion of their winnings back into the system. Instead, the oligarchs are preparing to create mass unemployment by firing federal workers so they can steal even more money.
Remember the uproar over this truism?
"If you've got a business, you didn't build that. Somebody else made that happen. . . . The point is, is that when we succeed, we succeed because of our individual initiative, but also because we do things together."
But Teleworking federal employees are the problem. Not the fact that the taxpayers are subsidizing the wealth of Musk and Bezos who then turn around and profit more off of us again from the monopolies they've created.
Ah, but they earned it... blah blah... investments...simp simp... create jobs... kisses...go and start your own business with only one million dollars if you think it's that easy...etc etc etc.
One solution is incredibly simple. Stop using the products and services that allow these people to consolidate money and power. There is a growing number of alternatives to those platforms. While not always perfect, Bluesky, Mastodon, Signal, Wikipedia and Mozilla are great examples of alternatives.
If the gov would consider the proceeds from any loans (annual total > $300K, not collateralized by first residence) as INCOME that would be a good step.
It's not taxing their 'wealth' directly, but rather taxing the loan-income they derive from those unrealized gains.
And what, I'm supposed to swoon and congratulate those morons? What have those morons done for Americans? For the middle class and low income Americans? 😡
It is the unregulated banking that puts the treasury on the hook for gambling by banks. It is the lack of true oversight and consequences to the c-suite, with packages and parachutes for mismanagement. It is the for profit Healthcare taking premiums and not paying. It is the game not the players.
"Tax billionaires" is an easy knee-jerk reaction when the real fixes are way harder. HOW they became billionaires is as much an issue. It is not just the handful here but the second tier or vultures who run private equity firms. It is the lack of corporate restraint with quarter by quarter planning
And yet, somehow, Musky Elania is not satisfied with worker productivity at Tesla or the efficiency of transfer of wealth from the US government to his private treasury
Exfuckingactly. I’m all for anyone having the capacity to profit from their creativity & innovation. THAT’S NOT WHAT THIS IS. This is greed, plus government subsidies through various tactics & weaponized against the working class and poor. Tax’em all to their fair share w/reg tax codes no loopholes!
I canceled Amazon Prime. I just can't continue to feed these ultra rich men who could care less about the average person who struggles to live week to week.
And none of them are useful to this country. Oh yes they have big companies that contribute to keeping technology alive. But what have they really done for this country, for you or me? Think about that as they sit in their piles of money laughing at us.
They don't belong in government. Go run your businesses and greedily collect more money. Then, buy an acre of property to bury it on when you die--or man up and do good with it.
They are like No-Face from Spirited Away, in no matter how much they have it’s never enough. They are insatiable and that is sad. But the fact that they are harming so many people means they need to be stopped.
Time for the Benevolent Billionaire Act. At the end of each year, the wealthiest person in the United States must distribute their wealth equally among the rest of the citizens. It's what Jesus would have wanted and would cement their place in heaven.
The hoarding of wealth is appalling. I have cancelled my Amazon membership (it’s a lot of junk, anyway), I would never buy a Tesla (hideous cars), and I have moved to Bluesky for social media (instagram has turned into a bunch of infomercials). Let’s boycott the trillionaire boys club!!
To all the average working people, immigration is not a problem for you, middle class older home owners are not a problem for you, raising the minimum wage will not cause a problem for you. The problem is billionaires not paying enough taxes and owning all the media telling you who to blame.
Why do I pay more in taxes than Donald Trump??? Why are his tax forms in better hiding than top secret documents??? Why is Trump immune from being prosecuted as the criminal that he is??? Is it just me???
I'm never voting for anything right of center again. So, we need to force the party left with our voting power. That means no dem gets voted unless they move left
A better solution is stop voting for Republicans at all and start pushing democrats left in primaries.
You won't beat Republicans by dismantling Democrats first.
Has to be the other way around.
Well then, quit buying their shit. And get the government to do the same. Better yet, see if you can compete with them head to head in the marketplace, lol. Capitalism much? This is the end outcome of an unchecked capitalist system.
Comments
Not anymore, sadly 😔
Society.
How many classes are there I wonder.
Billionaire class
Millionaire class
Middle class
Working class
Enslaved class
Impoverished class
Undocumented class
More? 🤷♂️
It was a hierarchy the instant American colonists took stolen Africans to use as slaves and killed indigenous peoples for the land.
Raise the cap on SSI tax. Reinstate the old Estate Tax. Close the personal loan/stock loophole.
Most other places, that offer similar security, will have higher taxes.
I could see capping wealth at $1 billion, but $50 million is a low budget movie these days.
1 billion seconds is 32.5 years.
1 trillion seconds is 32,500 years.
No one, NO ONE, is worth 1 billion in wealth.
This is The United States, after all.
🎆
True altruism by the truly gifted does exist. We've just been conditioned to think empathy and compassion are incompatible with Capitalism.
And $50 million is a fortune.
There's greed, then there's pathological, mentally ill greed. Outright psychopathy.
I'm not communist myself, but I'm not flippantly against it.
Also are we going to pretend unfettered capitalism hasn't been a disaster?
Now go retire.
For
A
Maximum
Wage
I know - na ga happen. Doesn't mean it's not time.
(BTW, Republicans already proposed this, but in a different context.)
I mean... not you, George. of course.
*Catherine the Great (1729-1796) Est net worth today: US$1.5 trillion
*Augustus Caesar (63BC-14AD) Est net worth today: US$4.6 trillion
* Joseph Stalin (1878-1953) Est net worth today: US$7.5 trillion
* Akbar I (1542-1605) Est net worth today: US$21 trillion
* Emperor Shenzong (1048-1085) Est net worth today: US$30 trillion
*Genghis Khan (1227) Est net worth today: US$120 trillion
*Mansa Musa (1280-1337) Est worth ... “Incomprehensible”
Eat the rich
Don't worry, they're in the less-obvious stage here in Germany, but they're there.
#taxtherich
The consequences will be dire.
We must eliminate the influence of big money in politics!
And good to know in your little scenario the lives of the pilot and stewards are not important.
#ItsHappeningAgain
They may want to look up the French Revolution. I'm sure that someone out there knows how to build a guillotine.
Here: Please take a moment to listen to these:
https://infoincontext.com/more-context-voices/i-told-you-podcast
I don't have clout but I am not being reactive. I need help to broadcast.
Well, now they have all the money, even if there are fewer of them.
Of, I forgot, that was about US paying taxes but not about the rich not paying theirs.
Money corrupted their souls
I think we are forgetting that these people enrich the lives of those that work for them.
wages so low they can't afford to live. A few Amazon warehouse workers I know are getting
Fixed it!
In the first quarter of 2024, almost 2/3 of the total wealth in the United States was owned by the top 10 percent of earners. In comparison, the lowest 50 percent of earners only owned 2.5 percent of the total wealth.
The brainwashing power of the media is pretty remarkable
O! Praise Jeebus!
The good ol’ days.
Resist!
https://www.usa.gov/elected-officials
"If you've got a business, you didn't build that. Somebody else made that happen. . . . The point is, is that when we succeed, we succeed because of our individual initiative, but also because we do things together."
1M seconds = 11.5 days
1B seconds = 31.7 years
1T seconds = 31,689 years
If you're paid $3,600/hr, 24 hrs a day, never spend a cent, it'll take you 31,689 years to save a trillion dollars.
#maths #statistics
#collapse
It's not taxing their 'wealth' directly, but rather taxing the loan-income they derive from those unrealized gains.
https://bsky.app/profile/physicsanddata.bsky.social/post/3lbxt7qb5bs2x
Why don't they EVER believe Dem's have more interest in their interest's than the Repugninks do
Their only interest is getting richer so they can join their overlords in the sky
#UNITEAMERICA
Relatively cheap too 🤔
Capitalism can't operate without capital moving around.
Voting.
For.
Centrist.
Democrats.
It just enables Republican talking points about how Democrats don’t help people.
No, CENtRISTS don’t help.
Progressives absolutely will, but we have to elect them.
The center starts at AOC and almost touches the left at Bernie Sanders.
There is no true left in America.
Just in different Overton windows.
In Americas Overton window AOC is “far left.”
In Europe’s she’s a centrist.
And yes, America’s centrists are right wing. Reagan basically.
I'm never voting for anything right of center again. So, we need to force the party left with our voting power. That means no dem gets voted unless they move left
If it’s a centrist or a fascist…
I’ll vote centrist.
And since all Republicans are now fascists….
Most of the Dems are bending the knee
You won't beat Republicans by dismantling Democrats first.
Has to be the other way around.
I’m saying flip the majority to progressives rather than “Republican light” Centrists.
Or, it should have, but I guess not. Thanks for adding it.
That said, centrists enable Republicans.
They need to go.