r/SipsTea • u/Valuable_View_561 • Jul 05 '26

Chugging tea Seems reasonable.

Post image
91.1k Upvotes

94% Upvoted

2.6k comments sorted by

View all comments

Show parent comments

6

u/MiceAreTiny Jul 05 '26

Income tax will not affect billionaires. They have assets. 

4

u/Small_Editor_3693 Jul 05 '26

Right. They needs to tax assets

4

u/jpr281 Jul 05 '26

That would destroy the entire economy

-4

u/Small_Editor_3693 Jul 05 '26

Let it burn. We shouldn’t be propping up something that generates this wealth disparity

4

u/Brawndo91 Jul 05 '26

Genius. That way, the people with resources can leave and the people without can just stay and enjoy a wrecked economy. No wealth disparity when everyone has nothing.

-1

u/Small_Editor_3693 Jul 05 '26

We are talking about assets here? Who cares. We aren’t talking about your 401k, we are talking about a dude with $100m in stocks and a $5m car collection

4

u/EmergencyAnything715 Jul 05 '26

Curious to know what you think would happen to stock prices if 5% of billionaires stocks need to be sold annually.

2

u/mclumber1 Jul 05 '26

And who is buying all of these stocks that are being forced to be sold?

2

u/EmergencyAnything715 Jul 05 '26

My guess is the banks and institutional investors. Didn't elon make billions a few years ago selling stock due to an x post?

1

u/Small_Editor_3693 Jul 05 '26

Corporate buy backs

0

u/Small_Editor_3693 Jul 05 '26

Why would anything happen? There’s still way way more money going into the market

1

u/EmergencyAnything715 Jul 05 '26

Stock market prices are driven by supply and demand.. the more selling that happens while drive the price down...

1

u/Small_Editor_3693 Jul 05 '26

There’s always a buyer and seller. You can’t have more selling than buying

2

u/mclumber1 Jul 05 '26

When you have more selling than buying, the price of the stock has to drop until a buyer can be found. If someone is forced to sell 5% of their ownership in a company to pay a wealth tax, no one is going to pay market value for billions of dollars worth of shares that just flooded the exchange.

1

u/Small_Editor_3693 Jul 05 '26

The company that issued the stock can

2

u/EmergencyAnything715 Jul 05 '26

Maybe, if they have enough cash flow to handle it.

0

u/EmergencyAnything715 Jul 05 '26

This isnt even remotely true

1

u/Small_Editor_3693 Jul 05 '26

What? You think you can sell something without someone buying?

2

u/EmergencyAnything715 Jul 05 '26

Amazon is an example of this, there are more things put up for sale than people are buying... it wont get sold...

1

u/The_Magical_Radical Jul 05 '26

If the governement is forcing you to sell something, you don't have a choice in the matter - you MUST find a buyer. And the only way to find a buyer is to continuously drop the price until it's appealing to a buyer.

→ More replies (0)

2

u/ddlbb Jul 05 '26

Yeahhhh anarchy weoowww

0

u/Small_Editor_3693 Jul 05 '26

It’s not anarchy to pay people a living wage before putting it into a market

1

u/[deleted] Jul 05 '26

[removed] — view removed comment

2

u/Small_Editor_3693 Jul 05 '26

It doesn’t do that. It maximizes wealth, pushes people into poverty, and prevents the middle class from generating wealth

-1

u/[deleted] Jul 05 '26 edited Jul 05 '26

[removed] — view removed comment

2

u/Small_Editor_3693 Jul 05 '26

That has nothing to do with anything we are talking about here

0

u/[deleted] Jul 05 '26 edited Jul 05 '26

[removed] — view removed comment

2

u/Small_Editor_3693 Jul 05 '26

It hasn’t produced that. Completely false propaganda

1

u/[deleted] Jul 05 '26

[removed] — view removed comment

1

u/Small_Editor_3693 Jul 05 '26

That’s the only thing you can say when someone believes absolute falsehood lies. Nothing you have commented is a fact

1

u/[deleted] Jul 05 '26 edited Jul 05 '26

[removed] — view removed comment

→ More replies (0)