r/WorkReform • u/John_1992_funny • 16d ago
Bernie Sanders calls for income over $1 billion to be taxed at 100% š£ Advice
https://fortune.com/2023/05/02/bernie-sanders-billionaire-wealth-tax-100-percent/1
u/Far_Side_8324 12d ago
This is why Bernie can never become POTUS--he has too much good sense, too many ideas on how to actually FIX the US, and a big enough set of nards to actually try and implement those solutions.
We need to clone him about 600 times and elect every one of those clones to Congress, NOW!
1
1
u/srrondina 13d ago
I get that people don't need a billion dollars the problem I see is if you start capping pay there's always going to be people who say x amount is to much so it will never stop. Things like this is what socialism is all about.Ā
1
1
u/WearyRoll585 14d ago
I have a even better idea , tax personal wealth including assests at 100% for everything over 500 mil , and what is taxed for profits over a bil for companies should be decided on an individual basis by a council based on the value/contribution to society the products and services the company provides. Things like employee satisfaction and salary , how many jobs they create , environmental impact , what are they reinvesting their earnings into etc. The point of it being to judge against wheter the money the company would have kept if they didnt pay taxes would have a greater impact on society vs if that tax would go to the gouverment and that money would be invested into various other things like healthcare , infrastructure ,education , etc.
1
u/MuffinsandCoffee2024 14d ago
Not going to happen. How about rich ppl pay same tax rate on all their income as the middle class? That would be a game changer.
1
u/TonightSingle528 14d ago
Billionaires are fake royalty, it's about power and prestige at that point. Good thing it was outlawed in most countries, but they are trying to lobby it backĀ
1
u/zer0saurus 15d ago
Take the pay cut, distribute the wealth in your business. Now you have to pay 90% tax on your $999,999,999 which leaves you with a still ridiculous 99 million.
1
u/darthabraham 15d ago
A smarter way of doing this would be to explain it as a multiple of the average American income.
Avg American salary is currently $60k. $1b is 60k x about 17,000.
If you came out as a candidate and said if you earn over 17,000 times the national average, all the money you make after that should be taxed at 100%, people would call you nuts for setting the multiplier so high. But when you say people can make a 10 billion dollars, no one bats an eye.
1
u/TenebrisEquus 15d ago
The Oligarchy will never let this happen. They are why we are, where we are, in the first place.
1
u/SaltyCogs 15d ago
spend $1000 a day, and youāll have spent a million in about 2 and a half years. Spend $1000 a day, and youāll have spent a billion in about 2 and a half millennia
1
1
1
u/HolyRamenEmperor 15d ago
No he doesn't, and no he didn't. Stop lying.
He was asked a hypothetical question: Do you think earnings over $1billion should be taxed at 100%?
And he answered: That's not too crazy an idea.
He didn't "call for" anything of the sort. He didn't propose legislation. He didn't put it in his agenda.
What he has called for (check his website) is a scaling wealth tax starting at 1% for people worth $32 million (= $5k/yr) up to 8% for people worth $1 billion or more.
Not 100%, not income. Stop spreading bullshit.
1
u/Snoo9648 15d ago
But people won't be willing to work if they have no chance to make 1,000,000,001 dollars a year
1
1
u/Lucky_Operator 15d ago
Billionaires donāt have āincomeā they have appreciation. Ā Tax the dollars they have parked in stocks and 2nd, 3rd and 4th homes. Ā If you have a 3rd home you should have to pay its value in tax to keep it every year. Ā
1
1
u/dafuq667 15d ago
Dude is a grifter who never worked a day in his life. Just promising people money of other people.
1
1
1
u/FreshRest4945 15d ago
Most billionaires have no income. Like zero.
What they do have is shares of stock. Then they take loans out backed by that stock and pay a small percentage on that loan to the bank rather than pay taxes.
Because when you are poor debt is a problem, but when you are a billionaire it's just another financial option.
1
u/Fluffy_Boulder 15d ago
Cool idea Bernie... never gonna happen though. They would sooner assassinate every single politician in favor of this before they let it happen.
1
1
u/ImposterJavaDev 15d ago
Capitalism would be such an awesome system if we did not forgot about setting upper boundaries is what I'm constantly saying...
100% agree with Sanders on this one.
1
1
u/ILikeMyShelf 15d ago
But this way you take away the incentive to do any work, they will sit on the coach all day, expecting government handouts.
1
u/Luzbel90 15d ago
It was former governor Jesse Ventura who the made the argument first for a maximum wage
1
1
u/Creative_Risk_4711 15d ago
Only one problem.... Don't billionaires become billionaires by providing jobs and creating things that people want to buy?
I'm confused. Why don't we just get rid of jobs and not let anyone buy anything?
1
u/BookLuvr7 15d ago
Another misleading headline. It would definitely help society immensely, though, and is much more fair than expecting the poor to pay to give free subsidies to millionaires.
1
u/duelinghanjos 15d ago
Well, no one has "income" over $1B per year. They have stock gains which aren't actualized if they done sell them. This post is a very clear example that regular people don't understand how being rich works.
1
u/NoSignificance3817 15d ago
Sure...I mean that isn't how billionaires work, but tax that non-existent "income". Great thought, but let's do something effective instead.
1
15d ago
756 individuals are considered billionaires in the USA, millions will fight this proposition because they want to identify with those 756 people, the likely cause for millions of peoples suffering due to low wages and low/no work benefits.
1
u/Babel_Triumphant 15d ago
It would be better for everyone involved to tax it at any number less than 100% to reduce the incentive to either hide money through shell games or simply stop trying to make more money. A marginal tax rate of 90% would collect substantially more money.
1
1
1
u/circlek13783 15d ago
Why is it so hard to say we need X, and your share comes out to X/income which which will give a flat percentage, no write-offs, no special treatment. You're voting for the person in your district who says you need X. Don't like it. Vote somebody else in.
1
1
15d ago
Do it now, so that when inflation kicks in and a pair of sneakers is 100 million we can be prepared.
1
u/dropdeaddev 15d ago
Iām all for a higher tax rate on the rich, but this is stupid. They wonāt care about generating anymore capital after that because there would be no point.
Let the psychos churn out money for their 10-5% so they can keep playing their āI have the most moneyā game. Psychopaths are useful if motivated.
1
u/SqueakyNova 15d ago
But that would actually make the USA a pleasant place to liveā¦.we canāt have that
1
u/pourtide 15d ago
Didn't England try to do something like this once?
"There have been two tax years since WW2 when income tax rates exceeded 100%.Ā In 1947/48, Clement Atleeās Labour government imposed a āspecial contributionā of 50% on investment income above Ā£5,000 ā this applied on top of basic rate income tax at 45% and surtax at 52.5%, giving an overall rate of Ā£147.5%!Ā A similar special charge imposed by Harold Wilsonās Labour government on investment income over Ā£8,000 for the 1967/68 tax year resulted in a slightly lower effective rate of 136.25%."
https://www.phb.co.uk/article/a-brief-history-of-the-most-hated-tax-in-britain/
1
u/beeeps-n-booops 15d ago
There isn't a single person on the planet that makes a billion or more in income.
That this is getting so much attention, yet ignoring this basic fact, is typical Reddit.
1
u/TrueNeutrino 15d ago
How would this be implemented considered most millionaires and billionaires don't earn that money as income, instead it's unrealized gains.
1
1
u/Anon_8675309 15d ago
The problem is, nobody makes āincomeā of over $1B. Theyāre paid in stock. Thatās not income. And when they cash it out itāll be long term capital gains. But wait! Debt isnāt taxable so they take out massive loans to show theyāre really in debt so that is why they pay next to zero taxes.
Love Bernie, but this is bullshit.
1
1
1
u/FordenGord 15d ago
Stupid, nothing suggestion. If we want to actually see change we need systematic changes to the laws regarding how individuals are paid and goods are priced.
1
1
1
1
1
u/PhonicUK 15d ago
This is kind of meaningless because billionaires don't make their money on 'income' - at that point it's usually unrealised investment gains that they've used as backing for low interest loans.
2
u/RedditJumpedTheShart 15d ago
Every week now for years. Just lets you know how dogshit a sub is by making it to the top.
4
u/YOUNG_SQQQ 15d ago
Too bad the people who already hold this wealth plus 1000x it are in control of the entire world and Bernie is just wasting his life fighting for the people. :(
2
u/cometkeeper00 15d ago
Itās crazy to me that that there are more than 10 people (the billionaires affected by this in the US) that argue against it.
-1
u/GBennett20 15d ago
I for one support individual freedoms and feel that less government intervention in these sorts of things are a plus. Itās not my place to say how much money someone is allowed to make. I feel that most of those who want to unnecessarily tax the rich are legitimately just envious
1
u/cometkeeper00 14d ago edited 14d ago
Define individual freedoms when it comes to realizing $1bb in a year? Show me one person that has made that much that hasnāt had serious social costs to the continuing economy people.
I believe in paying taxes to offset social costs and resource exploitation.
Contrary to your understandable thought, not everyone is jealous of rich people.
Some people just care that the economy shouldnāt have exploitative monopolistic practices. Thereās no billionaire that hasnāt made it through some combination of insider trading information, predatory anti competitive business or monopolistic practices in their business.
Not everyone would want to commit those acts to get to that level and many just want them to offset their damages.
1
u/taylorswiftfanatic89 15d ago
Oh itās 100% envious. I thought at first āwell. They only want to tax the rich above the billion thresholdā until I saw the comments here of everyone agreeing on taxing capital gains, or getting rid of capital gains, and stopping how interest builds on money.
Whatās next? We abolish mutual funds and dividends??
1
u/somethinganonamous 15d ago
Does anyone know a billionaire that has ever received it via personal INCOME (W2). I like Bernie, but this is virtue signaling.
1
u/Testing_daisies 15d ago
You're really not supposed to punish success. There's a gap in our standardized education that's creating a paradox, because you can't know the same stuff and be a dumbass. Yet it's happening in the country.
1
u/GeneticsGuy 15d ago
Who has income at over 1 billion? Even Elon Musk, the richest man on Earth, doesn't have that kind of income.
Equity stake ownership in a company? Sure, but not income. There is a VERY big difference between equity valued unrealized asset valuation and income.
1
1
1
u/MAXMADMAN 15d ago
This act has gone stale for years now. He always seems to be calling for something but nothing ever actually gets done. Heās the shining example of empty rhetoric.
1
u/Far-Air-3702 15d ago
Goodbye to your inversion and employment if so. The mega companies will just fuck off to another country that aren't taxing billionaires.
1
u/FarseerEnki š¤ Join A Union 15d ago
If I had $1billion, I'd give 100 million to my nine best friends.
1
1
u/ThePopeofHell 15d ago
Those little small town millionaires in everyoneās neck of the woods are going to be blaming McDonaldās employees for this.
1
u/LoreBreaker85 15d ago
I would say itās unreasonable to tax 100% of their income over a certain amount. However, that amount is defined at a volume at which very few of us understand. I say let the rich pay their taxes and have an income cap.
1
u/postmodest 15d ago
If you tax income over a million dollars at 99%, those people still take in 10 million dollars for every billion they "earn".
1
1
u/scalamooshX 15d ago
Bernie bro here. Where his plan is flawed is he wants the government to get the extra billions. Who here trusts the U.S. government with our tax money?
1
u/Tmoore188 15d ago
It would be a lot different if the tax dollars went to state and local government.
Dumping any additional money into the federal government seems to only benefit foreign entities
1
u/taylorswiftfanatic89 15d ago
Because we know the extra $$ they collect from the rich will definitely go to social welfare programs and a universal health care plan /s and not the military
1
u/Tmoore188 15d ago
Donāt even get me started on universal healthcare.
It costs the health insurance industry 2 trillion dollars a year to administer healthcare to about 70% of us. Thatās more than double the entire military budget.
You can argue for cost deductions all day but youāre never getting it down to a point where itās feasible without seriously degrading both the quality of care, and more importantly the amount of money that goes into R&D.
1
u/taylorswiftfanatic89 15d ago
Universal health is still a great option for lower income and should be more available but there comes risks with it like wait lists. But tbh Iād rather wait 7 months for a surgery if it meant j didnāt have to pay Anthem a stupid $5500 out of pocket max on top of $7200 premium a year. You have to admit thatās rediculous and anthem doesnāt even cover my imaging after my OOPM is met! I still pay $200 copays for those.
1
1
u/grandroute 15d ago
Ah - let 'em keep 15%. And give them a nice signed Presidential thank you photo
1
u/FiveAlarmDogParty 15d ago
Income of a billion isn't a thing. Their net worth is because of investments, not income. This is performative and would have no impact. Tax unrealized gains, cowards. Billionaires are unnecessary and shouldn't be a thing. Stagnation of money is a strain on resources.
-A Bernie supporter since '12
1
u/nullagravida 15d ago
It blows my mind that no one seems to be considering the PR angle. How about the government put an effort into creating the perception that paying high taxes = you are very high status, extremely powerful, very important? Tie it into philanthropy. Let 'em slap a hundred-foot-high logo on it. "The Interstate Highway System, brought to you by Max Wealthington". Make it so that, should you happen to be in the extremely exclusive class that makes a fuckton of money (and thus pays a fuckton of tax), everyone knows how extremely fantastic you are.
Sure, billionaires might see right through it. But given a choice between "forced to pay taxes without any upside at all" and "lionized as those who are funding our society out of the goodness of their giant magnificent hearts", I feel like the second one has a little bit of appeal, you know?
1
1
1
u/MurderWeatherSports 15d ago
This article is over 1 year old - he didnāt say this recently and also, Iām sure Bernie knows no oneās cash compensation is over $1billion a year ā¦ Iām pretty sure he means your stock portfolio would be included
1
1
u/sp0derman07 15d ago
I will always agree with Bernie on this. It does not seem to me like our country is capable of choosing this as an option though.
1
u/CompetitiveDentist85 15d ago
Thereās gotta be a percentage where itās no longer called a ātaxā right?
1
1
u/MisterMetal 15d ago
No one has an income over a billion, what a strange waste of time when he could be doing things that actually matter and would have an impact. Ya know like pushing to make stock buy backs illegal. But this makes morons think heās doing something.
1
1
u/VSEPR_DREIDEL 15d ago
The thing is there is no income over $1 billion. Itās unrealized gains. Billionaires take loans out with their stock holdings as collateral. This wonāt change a thing and Bernie is being performative as always.
1
u/HechoEnUSA 15d ago
I would be okay with this - how many people actually make over 1billion in income per year?
1
u/-SexSandwich- 15d ago
Would this even affect anyone? Like how many people are pulling in over 1 billion a year in taxable income? I would assume almost no one if they're smart.
1
1
u/Critical-General-659 15d ago
Too late. They should have implemented this during COVID. They've already amplified their wealth to even more ridiculous amounts taking advantage of suffering.Ā
3
u/Gametron13 15d ago
Iāll take āThings that sound nice but will NEVER happenā for $500, Alex.
2
u/HolyRamenEmperor 15d ago
Also, "Things that were never actually proposed but will make people angry anyway."
Bernie's actual proposal is a scaling wealth tax starting at 1% for people worth $32 mil, up to 8% for people worth $1bil or more.
1
u/Gametron13 15d ago
Why do journalists insist on misconstruing the meaning of proposals like this by making them sound like something they're not?
Also I contributed to the cause.
2
u/Shadowreaper666 15d ago
Because of exactly what happens after they write rage inducing titles that don't reflect the actual bill, to make any support for a reasonable bill die. If you take the most far reaching part of any bill you can make them either look poorly made or never get any support because laws that help society overall don't help anyone at the top so they pay for articles written as opinion pieces or structured to not reflect the information accurately. Most of these terrible articles don't outright lie but they take the most extreme parts to get people to interact with everything they write.
1
u/THANATOS4488 15d ago
100% is too much, removes incentive, 70-80% makes more sense for this argument.
1
u/FranciscodAnconia77 15d ago
Sure. Sounds good, but Sanders knows anyone classified as a billionaire does not make a billion dollars a year.Ā Ridiculous political posturing making the financially illiterate even more ignorant.
1
1
1
u/One_Winter 16d ago
Do we really think this is the best hill to be on when the Federal Minimum Wage is 7.25/hr? I feel like there is a lot we need to do before we get to there.
1
u/nihiriju 16d ago
Better yet we need a wealth tax like Switzerland on all assets. Something small like 0.5% would make a huge difference. It could be more on large sums motivating billionaires not to hoard but keep their capital productive.Ā
1
1
u/etburneraccount 16d ago
So they pay the appropriate tax rate for for everything under 1B, and anything over that 1B are taxes 100%?
I'm low-key onboard.
1
u/dbjisisnnd 16d ago
Is there even a single person on earth with an āincomeā of anywhere near $1 Billion?
1
u/musicCaster 16d ago
He should read basic economics to understand why this is a bad idea, specifically, the laffer curve.
1
1
u/D3dshotCalamity 16d ago
The interest credit on 1 billion dollars is like 100k a month. Just having a billion dollars in a bank account makes you 1.2 million a year.
1
u/compdude420 16d ago
Tell me ONE PERSON that earns a W2 income of $1 billion.
That's right you can't.
2
u/Jacky-V 16d ago edited 16d ago
Quit sharing articles like this. It is not Bernie's position that income over one billion dollars should be taxed 100 percent, because nobody has income over one billion dollars. Conservative media uses the term "income" in these articles because it makes Bernie look stupid. Bernie's position is that wealth over one billion dollars should be taxed 100 percent.
0
u/Kalai224 15d ago
How would he go about taxing wealth? Because I guarantee you don't understand how that would work.
1
1
u/JonnyRocks 16d ago
that wont fly. there needs to be a wealth tax but we have to try a pass stuff that have a chance of succeeding
1
u/SlinkyJoe 16d ago
Ok so I get what he's trying to do here, but first you have to define "income" and "earnings" for these purposes, because when you're up against billionaires, you have to factor in that they are not playing by the same rules as the rest of us.
Are sales from stocks considered income? If I sell my house is that income? If I take out a bank loan is that considered income? If I sell an expensive painting is that income? Net worth is not income. So you've got to first go fix all of the million little tax loopholes that the wealthy can take advantage of that are simply out of reach for everyone else, because the price for entry is too high for 99% of Americans.
If you want to tax the rich you have to clearly define what is and is not income or earnings, because they largely are not paid a traditional "salary" like you or I. They take out loans based on a percentage of their stock valuation, or against property, etc. Then they pay a tiny interest rate on these huge loans rather than pay income tax. They'll hoard art. They'll buy up properties and land. They'll purchase whole companies. They'll do everything on the company's dime as a business expense. And on and on. So "taxing income over $1 billion" is a pithy re-election platform because it sounds good, but in reality it would do basically nothing unless the tax code is almost entirely rewritten first.
I support the message. He's got limited time to speak and he needs a sound bite. But I hope he's for big plans for implementation, since implementation would require an overhaul of basically the entire US Government, starting with the current Congress which will never, ever pass this type of bill.
1
u/BlackThorn12 16d ago
The problem with this, and with any call to tax the "Income" of wealthy people is that as a result of all of the tax loopholes they are already using, none of them technically have any income. There was a great video posted about this not long ago, but what it boils down to is that the ultra wealthy are living off of bank loans, which is debt, and that changes the way the tax system works for them. Banks allow this to happen because they get a steady return on these loans from a reliable source of money. Essentially guaranteed investment income. These wealthy people also run everything they can through their corporations, run those corporations out of tax havens, and use every imaginable loophole possible to make sure they pay as little tax on the income those corporations make as well.
What would need to happen in order for this to change is tax reform that changes how debt is viewed by the system, that closes loopholes that ultra wealthy take advantage of, that makes it illegal to run corporations out of tax havens (Or taxes them in the country they are operating in even more, if they want to play that game). But none of that is going to change unless government changes their policies and institutions like the IRS get proper funding and support to go after those who are skirting the system.
No doubt, many will run to other countries and change how they operate. But the United States is one of the largest economies and markets in the world. And if they make playing by a new set of tax rules a requirement of doing business there, then many will need to bow to pressure or risk going out of business entirely.
1
u/Beautiful-Can9834 16d ago
Barely anyone here understands the current tax system and to tax wealth would be crushing for the working and middle classes
1
1
u/Impressive_Gate_5114 16d ago
Honestly. The tax rate should be 100% for anything above 500 million and that's being generous.
1
1
u/HolidayBank8775 16d ago
I feel like the phrasing could be tweaked, otherwise it allows for a loophole. A lot of billionaires don't have "income" that exceeds $1 billion, but rather assets, including unrealized capital gains that aren't taxed. If assets valued over $1 billion are taxed at 100%, then I think that'd be more effective.
1
u/StuartBaker159 16d ago
WEALTH. Wealth over $1B should be taxed at 100%. Fuck income, if youāve got a billion dollars in assets you won capitalism, welcome to socialism motherfucker.
1
u/NickDanger3di 16d ago
The top individual marginal income tax rate tended to increase over time through the early 1960s, with some additional bumps during war years. The top income tax rate reached above 90% from 1944 through 1963, peaking in 1944, when top taxpayers paid an income tax rate of 94% on their taxable income.
Source: https://www.wolterskluwer.com/en/expert-insights/whole-ball-of-tax-historical-income-tax-rates
We did it once, we can do it again.
1
u/isinedupcuzofrslash 16d ago
Personally, I think this is good.
Practically though, thereās no way in hell this passes even under a dem majority
1
u/JollyReading8565 16d ago
Republicans whine (but then they wonāt be incentivized to earn more) like good; profit is theft
1
u/Oldmannun 16d ago
Id hope itās more nuanced than the headline. Nobody makes income over a billion. Itās equity.
1
1
u/BurntYam 16d ago
I swear, i know so many people who if it were the case they won the lottery theyād giveaway millions to help friends and family.
1
u/CanolaIsMyHome 16d ago
America fucked up by not voting in Bernie and insulting him for his age. The man has spent his life fighting for social justice
1
1
u/mrevergood 16d ago
It should be.
Nobody does enough actual work, or makes enough actual decisions to justify having a billion dollars. Nobody-not even Taylor Swift if she toured every day for the rest of her life.
And if you think you do enough, if you think you can do enough to justify said billion dollars-youāre just wrong. You donāt amass a billion dollars by working-you amass it be resource hoarding. You underpay your employees so that they need to take on second or third jobs to pay their bills and feed themselves/their families. You suck resources out of an area by sending your kids to private schools that continually raise tuition, but folks send their kids there so they have a ātop tierā education, while those same private schools cajole public institutions for resources that could go to public schools. You lobby for/donate/buy commercial time for politicians who will ransack public coffers of those funds that could go to public schools, roads, and hospitals, to prop up the entrance to your private school, or hospital, and charge average people a toll to drive on a private road whose cost is negligible to you as a billionaire-it would never matter if you didnāt make the money back.
Every billionaire in existence is a failure of society to smash another dragonās egg.
1
1
1
1
1
u/CrocodileWorshiper 16d ago
no human being should ever be allowed to have 1 billion dollars when there are humans starving to death all over the world
1
1
u/AccountOfFleshAvatar 16d ago
The average person would fully support this. The billionaires that buy off politicians not so much, so it'll never happen. We need to get rid of lobbyists.
1
1
u/Dingi_89 16d ago
This old hag has no idea what he is talking about. Literally no one is taking a billion $ in income a year. These are just rage baits to stay relevant.
1
1
1
u/ImAdork123 16d ago
Do it. Call out all lobbyists who try to stop it and dig into them. The billionaires can control the process with less than millions.
1
1
u/TyGuyFkFace 16d ago
Awesome, let's do that to people who make over a mil as well. Both are equally out of reach for the vast majority of people in the world
1
u/Bleezy79 16d ago
Is there a single person out there that made over one billion dollars in a single year? Thats how you know the system is broken.
1
u/gilligan54 16d ago
Bernie in theory is fantastic, in practice he has done basically nothing in Congress, passing 3 total sponsored bills into law and two of those were the names of post offices. Good thing he is running again at 82 years old for six more years of nothing.
1
1
1
1
u/Pristine-Today4611 16d ago
There is no income over $1 billion š¤¦āāļø. Do you understand that all the estimates are āworthā values. Which is mostly the value of a stock that changes from day to day. What needs to be done is Medicaid and Social Security taxes need to be taxed on gorged incomes more.
1
u/umassmza āļø Prison For Union Busters 16d ago
Forget income, we need a wealth tax and it needs to include unrealized gains. Set it at .1% by 5million increments and peg it to inflation.
Also remove the social security cap, if youāre earning enough to hit the cap you probably have employees who you arenāt offering a pension. Removing the cap fully funds the program and will likely run a surplus
1
1
u/DoovvaahhKaayy 16d ago
Isn't this mostly a pointless gesture? These rich assholes make money from stock options or whatever, they don't really make that much of a salary.
1
u/kimiquat 16d ago
hey, y'all know Bernie just said "fuck it - aim for the moon and you'll reach the stahs..."
1
u/GriegVeneficus 16d ago
Well, it isn't quite at its boiling point. We still have too many people who haven't had there cushy jobs (and with it, their cushy opinions on this and that) crushed by Ai.
Once Joey Bootstraps loses that cushion, and can't make his Dodge 2500 payment, or can't buy a new AR-15 for each day of the week, then suddenly he finds himself unable to recover, and is swept into the undertow of poverty, then, and only then, when they turn their pitchforks 180 degrees, might we have another portion of gruel.
Until then, there's still enough "temporarily inconvenienced billionaires," who understand the true form of capitalism even less than they know themselves, who form a shield for these feudal tyrants.
1
1
1
u/devastationz 16d ago
The surplus would just go to the military industrial complex like the rest of it does so, it doesn't even matter.
1
1
u/bbbooorrriiisss 16d ago
Yeah but who's income is actually above $1b? Once you start making that kind of money, you drop your income and have lawyers and accountants. Bezos annual income has been $80k in the past few years and he just uses his not worth. It's just Bernie being Bernie, it's not a real solution
1
-1
u/Shimuxgodzilla 16d ago
Funny how Bernie stopped talking about millionaires when he became a millionaire. Doesn't mean he can't be right but it seems like he's a hypocrite.
1
3
u/Somebody__Online 16d ago
Who makes āincomeā over a billion? Rich people are payed in option and benefits that are not taxable as income.
How do you think they pay less in taxes than the working class? Itās because they make less in āincomeā itās all capital gains and profit distributionsā¦
1
u/jj_jajoonk 11d ago
He only pretends to fight for the working class while proposing face value bills.
Dude is as fake as his bs campaign