As oligarch fortunes soar: The case for expropriating the billionaires
As oligarch fortunes soar: The case for expropriating the billionaires
www.wsws.org
As oligarch fortunes soar: The case for expropriating the billionaires
30 comments
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Tax wealth, not work.
And churches.
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And money isn’t speech
Fuck Citizens United.
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But my tree fiddy has so much to say! /$
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Zuck, Bezos Wife, Bezos, ???, Musk
Is ??? Pinchai of Google?
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Sure is.
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Expropriate their organs.
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Liquidate Musk
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Liquefy Musk
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30 comments
Confiscate all personal wealth over 100million. Break up any company worth over 50billion. Take all institutions of public service out of private equity: utilities, house, prisons, retirement, schools, postal, healthcare and public land management. Reform the legal system to not give the wealthy any advantage. Do not allow elected representatives to own stocks. Do not allow politicians to take private money for political campaigns. Allowing people and corporations to acquire this type of power has been humanity’s whole problem for thousands of years
Get private equity out of hospitals and forbid them land ownership.
The current private equity hospital grift:
Billionaires technically don't have much personal wealth. They leverage their illiquid assets as collateral to take out massive loans. Which they can later cover with taking out even bigger loans.
The liquid wealth of the wealthy is very low, technically in debt. This is another way they can avoid paying tax as they technically don't have much of anything, and the reason why 'declining to take a salary' is typically meaningless.
That feels like an easy loophole to patch- Treat loans as income. Maybe tax it at some separate progressive rate so people using small loans as intended don't get fucked. But if Muskerberg has $100 million in loans taken out against his stock, taxing $90 million of that as income would make a difference. Especially if the top rate is like 90%.
Buy borrow die
It does have a notable Achilles heel though, which is that the underlying portfolio has to keep appreciating in value.
They shouldn't control that much wealth anyway, even if it's not 'real' money
you should run for president
Democrats would say this person is unelectable. After losing to Trump twice...
Unfortunately, I don’t know any billionaires who would be willing to finance my campaign
Do not allow elected representatives to do what exactly? Trade individual stocks?
Feels like something is missing here.
Yea sorry it was meant to say own stocks. I fixed it
I think I get your general gist, but would you please explain, so I'm not mistaken? Thanks.