Billionaires Rage About Biden’s New Tax Proposals
Billionaires Rage About Biden’s New Tax Proposals
Even billionaires who voted for Biden are furious they’re being singled out “because of how much they have.”
Crying billionaires are a sign of society healing.
A healthy society has zero billionaires.
Let’s go further with these taxes.
Billionaires: you should tax us more
Also billionaires: nooooo.... Not more taxes!
Biden claimed in his State of the Union address that the 25 percent minimum tax on the ultra-rich will raise $500 billion over 10 years. “Imagine what that could do for America,” he said.
Maybe I'm not good at comprehending numbers at this scale but does this seem kind of low to anyone else? I mean, that's a lot of money in absolute terms but the government spent $6.3 trillion in FY 2023 alone.
We should still do it obviously. Don't let perfect be the enemy of good and all that.
Boohoo
Thoughts and prayers
Did you expect an addict to thank you when you take away their drug cold turkey? Billionairism is a mental disorder, like addiction, and it should be handled with the same care. The kind of care that only billionairs can afford in the US, I must add.
Why would you take away these creations from them??? /s
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Wah wah wah just get into your fkn submarine, we double-checked the bulkhead for you 🫡
I don't really understand why they're upset, or how it will raise that much revenue. As the article points out, most billionaires don't get their billions from income, they get it from investments. For instance, Jeff Bezos' salary is like $80k, and then he gets other compensation that puts him at like $1.7M. if you put him in a much higher tax bracket, he shouldn't even care - would hardly notice - because he's worth $194B. To put that in perspective, if he earns just 5% a year in growth on that, it's almost $10B. His compensation is like 0.02% of what he's likely to make on investments, if that.
It's also worth mentioning that most billionaires can't really spend much of the billions. If Bezos tried to cash out much of his Amazon stock, the price would plummet and he'd be worth a lot less. What those guys do is take out loans with the stock as collateral and live off of that. Of course, Bezos himself is at a level of wealth where he can cash out a small percentage and it's still enormous. I think last year he cashed out like $2B worth, which is a giant amount of money, but only 1% of his net worth.
😭🤌🎻🎶🎵
Well they got rich taking advantage of the poor. That’s the only way you become a billionaire. I feel nothing towards them.
"Won't you please stop and think of the billionaires?"
"For just $5,479,452.05 a day, you can support a multibillionaire who needs you TODAY."
🎶🎶 "We are the world... we are old white men... We are the ones that have yachts that need second yachts to land helicopters on... so you start giving us your change... If you don't, we'll fucking find a way to kill you." 🎶🎶
State of the Union Tax Proposals
Oh, so it's about the vague promises he made in a speech, not actual policy? Excuse me if I don't rush to celebrate how marvelously progressive he's being just yet 🥱
Billionaires: "I DO think we should be taxed more."
puts money into lobbying against tax increases
Billionaires: Cry more. Yours is the machine we rage against.
Archive link for those that don’t have access.
This is never getting implemented and is just theatre for the masses.
Good. Fuck em.
They (billionaires) should not exist, full stop. If they were actually taxed the way we used to in this country, we wouldn't have these security threats.
Good, fuck em
They must be good then.
What there should be is an assests controled cap, no person should have control over more than 1 billion in assets.
For any who things the US ha a progressive tax system. It is ever so carefully regressive.
Biden was cooking with this one. It should be even higher that wealth is stolen.
With no due respect to these whiny fucking billionaires, good and go fuck yourselves for being petulant children.
A few verses the masses. They can suck it up, pull themselves up by their bootstraps, etc.
“My kids, who are 10, 12 and 14, you could tell them, ‘You know what, when you retire you’re gonna get money at 70, not 65.’” he said. “Do you think they’re gonna care?”
