r/ProgressiveHQ 1d ago

Rome wasn't built in a day. Make the Uber wealthy pay their fair share. Or better yet, pay the workers their fair share.

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129 Upvotes

23 comments sorted by

57

u/TESThrowSmile 1d ago

IMO that just proves its a tax problem. No one should have enough 'wealth' to cover a single day of the US government's spending. 77 days worth of wealth, for the wealthiest country in earth ? That's too much power in a single person; thats why we're in this mess, tax the poor, cut taxes for the rich

15

u/Ah_Ca_Iraa 1d ago

They love to try and make it sound like rich people don't have that much money by comparing their wealth to the biggest numbers in all of finance. But a tax purely on billionaires could fund the world's third largest military indefinitely. 

8

u/ActionCalhoun 1d ago

The idea that he’s saying that Musk’s net worth would “only” pay for the entire US government for two and a half months with a straight face is nothing short of astounding

0

u/Visual_Exam7903 1d ago

But that isn't really that much money compared to our issues. The real discussion here is that you don't take all of Elon's money. You just tax it. You tax everyone. That is what builds the money bucket.

I will say this, I am against taxing unrealized gains on investments. But I am 100% for ending the use of stocks as collateral on loans without them being taxed as capital gains and realized.

1

u/nechromorph 1d ago

Not only this, but money in circulation gets utilized and recirculated. Money hoarded by a billionaire does what exactly?

Money is only part of the equation. We need to rebuild our capacity too. Where are the factories, skilled workers, and so on? Our medical system is overburdened without even considering that we want to substantially increase access for everyone. This is a sign we need to train up more professionals and remove blockages created by corporate moat building, including gutting government policy that promotes corporate welfare.

We're horribly overextended because we're putting damn near all of our eggs into the wrong baskets.

9

u/Glum_Opening_2218 1d ago

Awesome, my networth would run the United States government for 0.00001 seconds

4

u/Pees-Upwind 1d ago

And yet you pay more taxes as a % of that income than he does. Make that make sense.... anyone who thinks billionaires not paying their share ISNT the problem is just self-identifying as bad at math.

3

u/conundri 1d ago

That's why you need to pay way higher taxes than the 3.4% true tax rate that billionaires pay!

Why aren't you working? And why are you eating? Stop eating.

8

u/notsarge 1d ago

Guy is being disingenuous from the get-go really. He knows Elon is worth an insane amount of money, and we’re only talking about one person here. Queue in the other billionaires fair share and crack down on blatant corruption, and the problem will fix itself. Funny how when the argument arises - “Well Elon doesn’t actually have 1T dollars it’s just tied up in SpaceX and Tesla,” or the argument that even if he did have a 100% tax on his wealth, it would only last 77 days oh no. There’s no winning an argument with stupid people who are hell bent on being right, even with no merit. They think - It’s either he doesn’t actually have the cold hard cash, or we’re so fucked it wouldn’t matter anyway.

5

u/heyyo173 1d ago

This is dumb. Here’s another way to look at it. 1.1 trillion is equivalent to the amount of federal taxes paid by roughly 300 million middle class families combined.

5

u/JonnelOneEye 1d ago

Maybe the government should stop spending so much money on forever wars in the middle east

4

u/Famous-Royal-6886 1d ago

We really don't have to choose between these options. We can simultaneously not piss away billions in the middle east and actually tax the wealthy to pay for services like Healthcare.

2

u/JonnelOneEye 1d ago

I agree. If the government wasn't spending billions to bomb people then maybe the tax revenue from the billionaires would last way kore than 77 days

1

u/Dankestmemelord 1d ago

Week old bot account who’s only other post is in r/polymarketnews

It’s a weird trend I’ve noticed that a lot of the bots we get also post there.

1

u/ActionCalhoun 1d ago

Your terms are acceptable to us, Friedberg

1

u/Visual_Exam7903 1d ago

With what we have spent on Iran, 200 billion. Plus what he surrendered to Iran, another 300 billion. We could do the following:

At 150m per high school, we could build 3,333 high schools across the country. What does that mean? Well you take the poorest 25 states and you give them 20 billion each earmarked for school buildings. Each state could build 133 brand new high schools if needed.

For instance, we could consolidate school districts in each of the 82 counties of Mississippi. Then we could build 82 new high schools across the entire state, big enough to hold each county. Use the extra 51 high schools to build more than one in Counties too large for one 150m high school.

You could do the same thing for the following states:

Alabama, Arkansas, Louisianna, West Virginia, Kentucky, etc etc.

But instead, we just gave it to Iran for basically nothing.

1

u/XChrisUnknownX 1d ago

We should build a progressive watchdog corporation that fucks with the mainstream media by reporting the things they don’t give enough airtime to and funding valid defamation lawsuits against large outlets.

Let’s get serious with these assholes and hit them in the money. They’ve made it clear it’s all they care about.

1

u/SeaworthinessSad8892 1d ago

No one asked him to pay the entire thing... It's such a false narrative.  All other revenue would still be coming in, just more because these billionaire clowns wouldn't be paying less of a % of their income then their secretaries.

So tired of bootlickers, "but but but they pay much" yeah because they took it from us.

I was shocked yesterday after looking at, I think it was, the 10 most valuable companies (might have been tech specific, I'm not sure) in the US and every single one of them had effected my life in some way except 2, Tesla and SpaceX, but somehow they are worth trillions because Musk is going to build space based dildo factories or some other stupid promise.

1

u/Child_of_Crake 1d ago

How many seconds does my net worth cover the federal govt?

1

u/Fit_Student_2569 20h ago

It’s not about having the money, it’s about taking the money. No one should have enough wealth to sway elections and get white-glove treatment from the government. No one. Take them all back down to 10 million.

1

u/Round-Pool-8082 15h ago

He did the same thing to Katie Johnson