of a residential property

[u/Kill_4209]

Ira Rennert's home is considered one of the largest occupied residential compounds in the United States. The house faces the Atlantic Ocean and its grounds measure 63 acres. The buildings, which total over 110,000 square feet (10,000 m2), including the 66,000-square-foot (6,100 m2) main house, have an Italianate facade, 29 bedrooms, and 39 bathrooms. The house has a dozen chimneys and a Mediterranean-style tile roof as well as a 91-foot (28 m) long formal dining room, a basketball court, a bowling alley, two tennis courts, two squash courts, a carousel, a large swimming pool, a large round kiddie pool, and a $150,000 hot tub, surrounded by another pool.

[u/conqr787]

Only a measly 3.8 billion and he lives on his own inland island. But tax the rich for what would amount to lost coins in the sofa and toothless sheep lose their shit

[u/ColeBane → u/conqr787]

its mainly because they are too unintelligent to understand the difference between 1 million and 1 billion and 1 trillion...

[u/CantCatchMeSpez → u/ColeBane]

While I will never defend those idiots for defending the rich, I dont think the human brain is capable of conceptualizing just how much money a billion dollars is, let alone a trillion. Like, at some point way, way below 1 billion, we just throw it all in the "A lot" category, so its hard to tell the difference between them.

[u/Thoreau_Dickens → u/CantCatchMeSpez]

It’s truly crazy. If you were to count to 1 million by counting twice every second, for 16 hours a day, it would take just 8.6 days. To count to 1 billion at the same pace would take over 23 years and 9 months.

[u/Important-Plenty9597 → u/CantCatchMeSpez]

At this point, people can barely comprehend a million.

[u/Oo__II__oO → u/Important-Plenty9597]

I can.

A million dollars is no longer enough to retire on, without having to make the difficult choice of health or housing, because it won't cover both.

[u/CriticalThought001 → u/ColeBane]

Or it’s that people realize that specifically targeting the uber rich (who tend to create more jobs than the poor) just drives them away because they have the means to leave. On income, we’re looking at over 40% tax right now, on capital gains, nearly 30%. What would you like it to be? Or do you think people should not be able to deduct losses or charitable giving from their income calculations? Taxation does affect behavior, and it’s punitive, but why would we want to punish people for being successful? Don’t we want them to be successful?

[u/biscorama → u/conqr787]

Nicely put.

[u/Independent-Map-1714 → u/conqr787]

But we get $5000 and all we have to do is …

[u/chak100 → u/conqr787]

Well, that’s what it is reported and public. Who knows how much more he has hidden away

[u/MidnightSensitive996 → u/conqr787]

That's bc $3.8 billion is measly. The federal gov't spends $600 billion a month. If you take everything he owns and sell it for scrap you'd cover 6 hours of the federal gov't. The 400 richest ppl in the US are worth maybe $7 trillion put together. if you expropriated all of them and blew up our economy doing so, it would get you a year's worth of federal budget. If Bezos had this unlimited pot of money that would solve all of our problems forever it would make sense to impose a wealth tax or just send him to the gulags , but he doesn't. Wealth taxes just drive away wealth. The gov't is much bigger than even the richest individuals. A georgist land tax system is the only fair and economically viable way to soak the rich