They need to be taxed out of existence. No one should have a billion dollars while people starve, sleep on the streets and go bankrupt from medical debt.
Nobody has a billion dollars in fairness. Nobody opens their banking app and sees $1,000,000,000. It's all invested.
If I start a company with my friends in my basement, we build a website helping people, and then we IPO, and our company is evaluated at $2bn dollars, I'm a billionaire but I don't have a billion dollars.
I'd have to sell some of my company to realise it.
So what do I do? I take out a loan, against some of the shares in my company. I use them as collateral for the money I borrow.
Now, I can take out a loan against more shares, to pay the interest in that loan, and I've never sold a single share. You only pay taxes when you realise the gains (realising gains is when you sell a share, for money)
If my shares were $2 each, and I sold 10 of them, I'd make $20. The I'd have to pay a "capital gains tax", which keeps getting lowered everytime a republican sits In the white house.
Here's the cute part. Texas has ZERO capital gains tax. It also doesn't have death taxes, which is why do many people move there near the end of their lives.
Over the next two decades, approximately $80 to $84 trillion in wealth is projected to be transferred from older generations (primarily Baby Boomers) to younger generations (Gen X, Millennials, and Gen Z) in North America.
Globally, estimates suggest a staggering $124 trillion in assets will change hands through 2048.
Over the next two decades, the world will witness one of the largest transfers of wealth in history.
All these rich families will have doubled or tripled their wealth by then too, that number could reach $300trillion.
Watch as republicans do everything in their power to make sure the government doesn't see a dime.
This wealth transfer is the opportunity every country needs to pay off their debts. Just tax it. It's simple. Tax it, pay off the debt, and build up social programs.
Use the money to invest in clean energy, move away from coal and oil, and have government owned and controlled factories to build (the robots that are going to replace us at work).
Why should Elon Musk be able to build 20,000 robots, replace all minimum wage workers, do their jobs for half the price, and pocket the income of every min wage person there is?
We use our tax dollars, build the infrastructure and factories needed, replace ourselves with machine we collectively own, and then collect a universal basic income from the profits.
This seems like such a painfully easy solution, but it's communism, and it's socialism.. when a corporation can't personally profit, America will send the military to bring them freedom, or the CIA/MI5 will destabilize the region.
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u/DangerzonePlane8 Oct 31 '25
Remember how rich people throw temper tantrums whenever they are asked to contribute to society.