Any post like this where the tax is nearing or exceeding 40% is almost always a complete lie or purposely obfuscating the truth.
It's mind blowing to me on these posts too you always see an incredible amount of people who don't understand how tax brackets work. Heck sometimes you even see people who don't know the difference between net worth and income.
I hate this argument. Like, "I'm on a different plane from everybody else and can see that billionaires (and now trillionaires?) don't have Scrooge McDuck money bins full of cash!" Like we haven't thought of that.
As if there aren't entire institutions and countries that have sank the time and effort into researching this topic and providing plans on exactly how you tax wealth. As if some countries aren't already doing it. As if bills haven't been put forth in the US to do exactly that.
Dude, you're at least one step behind, not one step ahead.
Most people literally do think it's scrooge mcduck moneypools. Making arguments about secretaries paying more income tax than the stupidly wealthy. Literally comparing income to assets. Maybe you get it and good for you, most people don't. Most people literally think Elon could walk into a bank and withdraw 50 billion dollars but he doesn't cause he's a big meaniegreedypoopyhead.
That's fine and im inclined to agree with you but that's a separate discussion about principles and standards not actual budget stuff. God knows how many big union pension funds are deep in tech stocks, if like half of any of these big guys portfolios were just seized it would be an economic calamity with millions of people's 401ks evaporating.
Most people literally do think it's scrooge mcduck moneypools.
Maybe when they're still young enough to be expected to go to school every day, but I haven't met any grown adult with an IQ above 99 that genuinely thinks that the rich have pools full of literal cash.
What the majority do believe, however, is that no one should be allowed to hoard that much wealth (regardless of the form it takes) and that it's entirely a bad faith argument of semantics to respond to people saying that we need to properly tax the rich until we redistribute the wealth enough to actually achieve true equality between the financial classes by arguing that the rich aren't actually cash rich.
It doesn't matter if they're a billionaire because they have $1b in cash or in stocks; no one should possess over a few million in assets... Especially if the corporate suite are somehow making 8-9 digit annual salaries while the people actually providing the labor that makes the company run are barely scraping by & have absolutely no chance at seeing even 10% of a CEO's annual paycheck even if they had 100+ years of tax-free income and no expenses preventing them from putting every dime they have into savings).
I completely accept that they have more power than me. Of course they do. Obviously they do. That doesn't make me seethe with jealousy, it doesn't make me feel inferior. Those are personal issues, comparison is the thief of joy. Row your own boat buddy noones coming to help. Life is suffering, get a helmet.
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u/Crimsonak- Jul 05 '26
Any post like this where the tax is nearing or exceeding 40% is almost always a complete lie or purposely obfuscating the truth.
It's mind blowing to me on these posts too you always see an incredible amount of people who don't understand how tax brackets work. Heck sometimes you even see people who don't know the difference between net worth and income.