Change My Mind

Billionaires shouldn't exist.

Yeah!! Nobody should be allowed to employ more than 1000 people.

If you could run a company that employed a million people and wasn't worth a billion dollars, that would be just sad.

You don't get the difference between a "billion dollar company" and a billionaire.

Sure I do. If you are the legal owner of a billion dollar company, your net worth includes the value of the company. Jobs owned a percentage of the company, so his net worth included that percentage of the value of Apple.

You don’t know the difference between income and net worth.

Well, I'm sure you understand that just having a high net worth doesn't get you taxed like income does

And most, if not all, billionaires make income. Even on their own wealth. And we should tax it all like regular income.

Way to disincentivise (sp?) business investment. We don't need more jobs.

Like the rest of the civilized world? Let’s take our chances

Decided to check out the rest of the world. There are some severely different ways to handle capital gains in different countries. Pretty wild reading!

How do you propose to take an investment that goes up and down in value until you actually sell it? Have you ever owned a share of stock?

I'm not. capital gains should be taxed as income.

Try getting the laws changed. Your politicians are their pets.
5qy9va.jpg (click to show)

Right. Welcome to the point.

Over those years, the data shows, Buffett reported paying $23.7 million in taxes. Berkshire Hathaway Inc. Note: Values in the graphic are rounded. That works out to a true tax rate of 0.1%, or less than 10 cents for every $100 he added to his wealth.Jun 8, 2021

https://www.cnbc.com/2021/06/08/bezos-musk-buffett-bloomberg-icahn-and-soros-pay-little-in-taxes.html

Stocks that I bought a long time ago and have gone up in value will not be taxed until I sell them. Any paycheck I received had the taxes already taken out. The difference is that the stock can change value, so the government hopes to get capital gains on a larger value. That's part of the reasoning behind capital gains being taxed differently from income. What’s your better idea?

All income, regardless of HOW it’s gained, should be taxed the same.

have you ever thought about how long and hard billionaires work to get where they are, while you cant get up off your couch and make fun of them you commu nist

To hell with their hard work.

they should

they do, in some cases, just not nearly enough.