For most people, passive income is a bit of extra pocket change that requires minimal effort to earn to supplement a main source of income. For Steve Ballmer, it’s $1 billion.
That's 100k for those in the back. Really puts this greed into perspective, there is absolutely no reason for any individual to be hoarding this much money. For many people that would literally be life changing
Oh honey, that's so much more conservative than I'd tax. 100% over a million, easy.
They don't deserve huge bonuses so I'm not interested in letting them keep anything that insane. There should be a cap on income based upon the median wage or something IMO.
50% for 20 million sounds insane to me. I'd be clamoring for 75% or more. I'm in Ontario and people making something like 250000 CAD already have a marginal rate above 50% IIRC. Before anyone calls me a lazy commie, my marginal rate is in the mid 40s already, and I'm happy to do my part.
Anybody else think there should be a money limit? Like at a certain point you get a message: Congratulations, you completed capitalism. Now every additional cent you make is going to be taxed at 100%
But giving someone at the bare minimum support from the state is apparently setting the wrong incentive. They say free money for doing nothing is communism and makes people lazy while giving a billinaire billlions for doing nothing is late capitalist doublespeak.
I hope he suffocates on it.
ITT: a bunch of people who don't understand how dividends work on stock ownership. He's not collecting a salary, Microsoft is not actively paying him, he's just an investor who owns a shit ton of stock.
It is supposed to be a tool that allows people to support promising ventures that they believe in, and allows them to profit from the venture if it is successful.
Instead it's a race to the bottom, where companies have a feduciary duty to their investors to make them as much profit as possible. This is the ultimate driver of enshittification.
Adam Smith was a smart guy, but he never saw Milton Friedman coming.
To put it into perspective: If you would earn 5000$ every day (not per month, per day) and you had started with that when Columbus discovered America, you still had not 1 billion!
If you made $61k per day for a 45 year career, you would make ~$1bn.
So, that's like a decent yearly salary PER DAY, from the age of 20 to the age of 65.
If $61k per year can support someone for a year, that career would support 365 people for 45 years.
And that's just $1bn over a full career.
If you earned $1bn per year, that could support 16,425 per year on a $61k salary.
Thats a town of people.
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It doesn't say anything about what he is doing now? Seems like he was sorry about previous donations and wanted to fix it? Is he still up to the same shit?