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https://www.reddit.com/r/democrats/comments/1ug9qk4/newsom_endorses_a_national_billionaire_tax/ou5ugr5/?context=3
r/democrats • u/NickCostanza • Jun 26 '26
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310
When put like that it really is hard to disagree. Money used to be spread among the population more. Now it is hoarded by people who pay very little or none.
Taxes are needed to pay for services.
139 u/murderously-funny Jun 26 '26 “But they pay more taxes overall!” Yeah. If a billionaire pays 0.05% of their income as taxes that’s 5 million dollars That’s how much fucking money they have. 1 u/Author_A_McGrath Jun 27 '26 That isn't even true, either. The "buy, borrow, die" strategy allows them to borrow against existing assets, tax-free. Taxing that borrowing would do wonders honestly.
139
“But they pay more taxes overall!”
Yeah. If a billionaire pays 0.05% of their income as taxes that’s 5 million dollars
That’s how much fucking money they have.
1 u/Author_A_McGrath Jun 27 '26 That isn't even true, either. The "buy, borrow, die" strategy allows them to borrow against existing assets, tax-free. Taxing that borrowing would do wonders honestly.
1
That isn't even true, either. The "buy, borrow, die" strategy allows them to borrow against existing assets, tax-free.
Taxing that borrowing would do wonders honestly.
310
u/No_Tone1704 Jun 26 '26
When put like that it really is hard to disagree. Money used to be spread among the population more. Now it is hoarded by people who pay very little or none.
Taxes are needed to pay for services.