• 0 Posts
  • 23 Comments
Joined 1 year ago
cake
Cake day: September 13th, 2023

help-circle








  • This is a brain dead take because it’s just guilt by association. Having diplomatic relations with countries around the world doesn’t mean that you endorse or support their government. A country that’s ruled by a shitty ideology like Fascism or Marxism is something to be weary of, but these countries do in fact exist and they do play a role in global politics and economics. For example, the UAE and Israel normalizing relations doesn’t mean that they support each other, but they recognize each other’s influence and understand that diplomacy and cooperation is more beneficial and productive than shunning each other.

    I mean we tried to sanction, shun, and ignore authoritarian countries like Cuba and North Korea for decades… How has that worked out for us? My point is that we can’t cut relations with every country we don’t like. There are situations where that should be the case and there are definitely arguments for us to be more cautious when dealing with these types of regimes, but we can’t cut ourselves off from the vast majority of the world (which is authoritarian) nor can we force countries to adopt our ways (we tried with Iraq and Afghanistan, it didn’t work).




  • The issue with this idea is that it doesn’t reflect how stocks work. Think about it like this: Owning a stock is like owning a block of gold. The value of the gold can go up or down. One year the value of your gold block could double and another year it could half. However, the actual value of your gold won’t be determined until you actually sell it. The tax your proposing isn’t a tax on wealth, but rather a tax on exchange rates. Besides if the stocks aren’t cashed then no harm is done. That money is being used and invested by the business.

    I don’t think the issue is with the things we tax. We have good tax policy on that. The issue is that the system is flawed because corporations keep lobbying for new loopholes. If you want to see billionaires and corporations pay their faire share then we have to go after these loopholes. There should absolutely zero reason why individuals like you and me pay more in taxes than corporations like Salesforce, Nike, and FedEx. I’m not even talking about percentages here, we literally pay a larger monetary amount than they do. Actually some of these corporations get rebates for their profits. These are the type of things we should go after. We have to dig through the tax code, find every loophole, and hound our politicians to close them… And oh, not open new ones.






  • Gorilladrums@sh.itjust.workstoLefty Memes@lemmy.dbzer0.comfair share?
    link
    fedilink
    English
    arrow-up
    33
    arrow-down
    1
    ·
    edit-2
    1 year ago

    That is actually the case. Billionaires aren’t swimming in a room full of cash and they don’t some some secret mega vault that holds $100 billion. Most of these guys are founders of very successful corporations, and so they naturally have a larger than average share. Bezos has most of his wealth in Amazon stocks, Zuckerberg in Meta, Musk in Tesla and SpaceX, Gates in Microsoft, and so on. Their wealth goes up and down depending on how well the company they’re most tied to is doing. In the US and most other places, stocks aren’t taxed until they’re sold. Once a transaction happens, there will be a tax. Usually tax rates go up with profits and income, and there are deductions for losses (to a degree). It’s an okay system, the issue is that it isn’t being enforced. Our system is full of loopholes that these billionaires exploit to pay way less than they should. But billionaires not paying taxes are nothing compared to corporations not paying ANY taxes on billions in annual profits. That’s what we should go after.


  • Gorilladrums@sh.itjust.workstoLefty Memes@lemmy.dbzer0.comfair share?
    link
    fedilink
    English
    arrow-up
    3
    arrow-down
    1
    ·
    1 year ago

    Being a millionaire isn’t really that much of an accomplishment anymore, unless you’re talking about hundreds of millions. For most people just owning a house, having a good retirement fund, and a couple of other assets/investments (cars, a small business, some stocks, etc) puts them over $1 million. A lot of middle class grandparents are in that tier, especially in Massachusetts.