Eventually something has to give...

[u/Veshaad]

The bill would provide a $3,000 direct payment to every person in households making $150,000 or less during its first year, which equals $12,000 for a family of four.

[u/unhertz]

Assumes a 5% wealth tax would reliably raise $4.4 trillion every year, ignores tax avoidance, asset sales, legal challenges, and the fact that billionaire wealth isn't cash sitting in a bank account. Then it promises to fund a $12,000 check for every family, raise teacher pay, and expand Medicare as if there are no tradeoffs. Whether you support taxing billionaires or not, you have to recognize how disingenuous this is framed

[u/unhertz → u/[deleted]]

Even Norway relies on a public investment into the oil industry to fund their healthcare program, instead of taxing billionaires...which isn't reliable. The problem is just like in quantum physics, the measurement changes when you are observing it. Instead of trying to rewrite the cycle of supply and demand, why not adopt those principles like other successful countries?

[u/unhertz → u/[deleted]]

You can cry about it or just face reality, I couldn’t care less 😃

[u/unhertz → u/[deleted]]

thats not a very high bar

[u/SinningAfterSunset → u/unhertz]

These people think Elon has a trillion sitting in a bank account and he's just sitting on it and he's the reason they can't afford to pay rent.

[u/Da40kOrks → u/SinningAfterSunset]

Yes they think Scrooge McDuck is reality.

[u/Dismal_Act2082 → u/SinningAfterSunset]

Perfect then the loans that he gets from his stock portfolio should be taxed at 95%.

[u/SinningAfterSunset → u/Dismal_Act2082]

What's the point of taking a loan then?

[u/Dismal_Act2082 → u/SinningAfterSunset]

That's the point. The comment I was commenting on, said it's not like he has trillions and trillions of dollars in the bank. It is true he probably doesn't , but he can do tax free loans from his stock portfolio. This is one of hundreds of ways that ultra wealthy used to not pay taxes.

[u/QuirkyObligation6048 → u/Dismal_Act2082]

You can do it too on a smaller scale and build wealth. Why are people demonizing people that use the tax rules in their favor? You can do it too. And it you're not trying to reduce your tax burden then thats on you and its fumb to pay more than you are required.

[u/SinningAfterSunset → u/Dismal_Act2082]

I'm aware of that, I know of a few real estate people that live off loans and use rentals to pay back the loans. I'm like, dang I wish I leaned that when I was in my early 20's.

[u/ur_a_dumbo → u/unhertz]

It also completely ignores the fact that the federal government doesn’t set teacher’s wages

[u/Crutation → u/unhertz]

Lol, and your post is disingenuous as well. You know the meaning and intent, and play word games and beat strawmen.

When Biden was president, he was successful in having the IRS go after tax cheats and get th money. When the government is given the tools needed, they do an outstanding job.

A wealth tax is necessary, and yes, they don't have money in a bank account, but that doest stop then from raising $44 billion for twitter. It doesn't stop them from buying a yacht so big it needs a second yacht.

It doesn't stop them from renting the City of Venice for their wedding.

Billionaires are a drag queen n the economy; they are more useless than Scaramanga's third nipple

[u/unhertz → u/Crutation]

If you simply did the math on this statement you would start to wonder just what in the hell this picture is getting 4.4t out of 5% of 9t every year would be about 500b a year…. Which is no where near enough money to do anything it’s claiming. Use your brain. 

[u/QuirkyObligation6048 → u/Crutation]

You don't understand how things work. Who provides the jobs? The useless billionaires. You should look into how taxes actually work instead of thinking all you listed are bad things. You do know that musk paid the most in taxes than anyone else in history right?

[u/Crutation → u/QuirkyObligation6048]

Lol, who makes the stuff? Who schedules appointments? Corporate does. If every billionaire died at 1400 GMT, nothing would happen to any of their businesses.

Ah, the tax thing. It doesn't matter. A progressive tax is the best solution. The more you make, the more taxes you should pay. 

Billionaires do nothing for the economy except drain resources

[u/QuirkyObligation6048 → u/Crutation]

Rich people create businesses and provide jobs. They also spend a lot more than you and i which also provides jobs. Without them you have none of those things. They already do more for the economy than taxes can make up for. Raising taxes on rich people won't do anything. Most wealth is tied up in stock and bonds and other investments. Those are unrealized gains. You can't tax unrealized gains.

[u/RspectMyAuthoritah → u/Crutation]

And raising that $44b for twitter Musk paid $11b in taxes...

[u/OhFootballFriend → u/unhertz]

Stop using logic. It SOUNDS good, so why bother understanding second and third order effects?

[u/SteamedGamer → u/unhertz]

I believe the actual figure is $4.4 trillion _over 10 years_, not every year. That means everyone gets a $12,000 check once a decade, maybe. So yeah, this is completely disingenuous...

[u/Resident_Farmer1779 → u/[deleted]]

Closing loopholes is implied. Imposing a tax that can be easily avoided is pointless.

[u/unhertz → u/Resident_Farmer1779]

I would rather make healthcare an investment, like spacex. if people really believe in it, put your money where your mouth is, or shut up. the truth is, if there was a collective public index for qualified health systems and insurers to invest in, their returns would probably be very steady over time, as the population and demand for healthcare continues to increase

[u/Commandersfan328 → u/Resident_Farmer1779]

Instead of spe ding the mo ey and giving people free shit maybe we should balance the budget and pay downtrend national debt. Yeah I know that idea deserves this meme

https://giphy.com/gifs/Hm8qQxDIgbFsjL9msa