What Happens When You Tax Billionaires at 90%?

[MagentaLine]

Like those 'resort' islands off of Queensland? You know, the ones vacant and not being redeveloped despite the lease conditions?

Easy fix - take the islands back.

Billionaires can only go somewhere and hide their money if the countries allow them to do it.

FKT

What happens when the billionaires don't have enough for all your woke projects?

 

[Teener]

What happens when the billionaires don't have enough for all your woke projects?

Don't fool yourself. They don't give a shit about your bigotry. They just want to trick you into voting for the guy who's going to cut their taxes.

 

[Olsonist]

If taxes get too high for billionaires, they simply leave. Buy a nice island somewhere warm and beautiful, pay fuck-all tax. It's good to be the king.....

Sure. Saverin left for Singapore, an island, and even renounced his citizenship. So what?

At that point of his career he was not personally very productive. He’s a ‘VC’ now. So he was lucky and made some money on Facebook. Big whoop. But he’s much less important now to the US of Fucking A than the thousands upon thousands of immigrant engineers are who want the opportunities which he took advantage of.

If you see John Galt on the road, kill him.

 

[Fah Kiew Tu]

What happens when the billionaires don't have enough for all your woke projects?

Nice try but not what's under discussion here.

I'd suggest that you up your game but it's obvious that you can't.

FKT

 

[Sol Rosenberg]

Don't fool yourself. They don't give a shit about your bigotry. They just want to trick you into voting for the guy who's going to cut their taxes.

Give the lowest white man someone to look down on and he won’t notice who is picking his pocket. - LBJ.

 

[Steam Flyer]

Dramatically decrease the size and scope of the Federal Government!
...

Problem... nobody voted for that.

Republicans keep shouting angrily about it, but they don't actually do it.

What happened to the "size and scope" of the Federal gov't under Trump and a fully Republican-controlled Congress? What happened to the Federal debt?

So shut the fuck up, or move. Or keep on shouting hateful bullshit, whatever. You're irrelevant.

 

[Steam Flyer]

Sure. Saverin left for Singapore, an island, and even renounced his citizenship. So what?

At that point of his career he was not personally very productive. He’s a ‘VC’ now. So he was lucky and made some money on Facebook. Big whoop. But he’s much less important now to the US of Fucking A than the thousands upon thousands of immigrant engineers are who want the opportunities which he took advantage of.

If you see John Galt on the road, kill him.

I would encourage everybody who admires the fictional character, John Galt, to GO.

GO John Galt! GO! Get the fuck out! We don't want you here, either!

Oh wait, that was fiction.

 

[Steam Flyer]

Simplistic reasoning gives simple answers.

If billionaires leave, they won’t be protected by America’s legal system and state department, they won’t enjoy the cultural opportunities and sports events of our nation, and they will be dealing with the government of whatever country they choose, all of which have problems.

It might be a rational, fiscally sound decision, or it might turn out to be a disaster, or more probably, a wash.

The state of Kansas chopped it's income tax peak rates and went broke. They literally could not afford to keep the public schools open, and their own Supreme Court would not let them close the schools.

Oddly enough, not one single bazillionaire... or even millionaire... moved to Kansas. Yet New York City with it's famously high taxes, has lots and lots of 'em.

Believe the deeds, not the words.

 

[pusslicker]

No you get people going full john Galt.

And because you're a dumb communist I googled it for you....

Income Taxes on the Top 0.1 Percent Weren’t Much Higher in the 1950s

High marginal income tax rates on the rich were recently proposed. But how much have effective tax rates on the wealthy changed since 1950s?

taxfoundation.org

John Galt? Are you going to be referencing Yoda next? I'm guessing you haven't ever really read any of that garbage.

 

[Olsonist]

John Galt? Are you going to be referencing Yoda next? I'm guessing you haven't ever really read any of that garbage.

I tried but she can't write for shit.

 

[Steam Flyer]

I tried but she can't write for shit.

Could not, you mean. Past tense. She's been dead for a while now.

I thought "Atlas Shrugged" was awesome when I was 11. Re-read it in my 20s and realized what unrealistic, over-bombastic bullshit it was.

 

[Olsonist]

Could not, you mean. Past tense. She's been dead for a while now.

I thought "Atlas Shrugged" was awesome when I was 11. Re-read it in my 20s and realized what unrealistic, over-bombastic bullshit it was.

Can't. Literary present tense. I think that got started because it would just be too annoying and exhausting though correctfully correct correct to always switch back and forth between author time and work of fiction time. So by academic fiat, it was agreed they both happened now.

 

[El Borracho]

Can't. Literary present tense. I think that got started because it would just be too annoying and exhausting though correctfully correct correct to always switch back and forth between author time and work of fiction time. So by academic fiat, it was agreed they both happened now.

One wonders if anyone in congress bases their political decisions on their viewing of Spaceballs when they were 11? Arguably more rational than trying to live by that Ayn Rand nonsense.

 

[Olsonist]

Inarguably. I think Mel Brooks is awesome. BTW, a WWII combat engineer in the Battle of the Bulge who defused mines.

 

[Steam Flyer]

Can't. Literary present tense. I think that got started because it would just be too annoying and exhausting though correctfully correct correct to always switch back and forth between author time and work of fiction time. So by academic fiat, it was agreed they both happened now.

Ah so... never heard of that.
Thanks!

 

[Se7en]

If you see John Galt on the road, kill him.

But,
who is John Galt?

 

[SloopJonB]

There are a lot of idiots here. Which ones are we talking about again?

Mostly you and V3.

The Mutt too but not in this thread - so far.

 

[SloopJonB]

I thought "Atlas Shrugged" was awesome when I was 11.

That's why people like V3 and MAGAgenta still do.

 

[phillysailor]

I would think MAGAts would want to get back to the tax rates that made America great, funding large infrastructure projects, medical research and missions to space.

But they just wanna talk about bathrooms

 

[Gouvernail]

Not really not that s the National Debt smaller than the Republican tax cuts dating back to Reagan but every penny of those tax cuts has come in the form of reducing investment in America.

When taxes were 90%, people protected their money from taxation by investing in their businesses or fishing to charitable causes.

Now, with the insignificant tax rates, there is little reason to invest and create new products and jobs.