Jogre
So Old I'm Losing Radiation Signs
I didn't know Big Bird debated Joe Rogan.
Political Spergatory or How I Learned To Love /pol
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So Old I'm Losing Radiation Signs
TJQKA
Boomer Anarchist
Mornin weirdos
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TheGM
The voice of reason
Words Wrods weds.
TJQKA
Boomer Anarchist
TJQKA
Boomer Anarchist
- Democrats are about to include a massive tax cut for the wealthy in their social spending plan.
- The plan could deliver much larger benefits to high-earners compared to middle-income families.
- Democrats argue that passage of the SALT cap in the Trump tax law was punitive to blue-state voters.
Congressional Democrats are trying to raise the total amount of state and local taxes that people can deduct from their overall tax bills, known as the SALT cap. The House legislation lifts it to $80,000 from it's current $10,000 cap through 2026, undoing part of President Donald Trump's signature tax law.
That measure alone will provide a tax cut to wealthy households that's 10 times bigger than the largest tax benefit for middle-income families earning $50,000 - the child tax credit expansion - per a new analysis from the nonpartisan Committee for a Responsible Federal Budget.
A middle-income family can expect to get in one year $2,600 in federal aid from the revamped child tax credit. That's in stark contrast to the $25,900 annual tax break that wealthy people earning above $1 million can expect from lawmakers raising the SALT cap.
The chart below from the organization reflects how benefits in the plan would be skewed towards higher-earners if Democrats approve SALT relief.
Marc Goldwein, senior policy director at the nonpartisan Committee for a Responsible Federal Budget, has called inclusion of the measure "baffling."
Morgan_
Duckerz
Yeah, but you shouldn’t tax the rich because they are smart.
TJQKA
Boomer Anarchist
Morgan_
Duckerz
Can we just agree that Poland is actually eastern europe and not central in all the ways that matter?
TJQKA
Boomer Anarchist
Russia is too fucking big.
Local German man doesn’t understand that billionaires have to work for their fortunes.
TJQKA
Boomer Anarchist
How do they work for their fortunes?
T
TorontoReign
Guest
In 2002, Musk founded SpaceX, an aerospace manufacturer and space transport services company, of which he is CEO and CTO. In 2004, he joined electric vehicle manufacturer Tesla Motors, Inc. (now Tesla, Inc.) as chairman and product architect, becoming its CEO in 2008. In 2006, he helped create SolarCity, a solar energy services company that was later acquired by Tesla and became Tesla Energy. In 2015, he co-founded OpenAI, a nonprofit research company that promotes friendly artificial intelligence. In 2016, he co-founded Neuralink, a neurotechnology company focused on developing brain–computer interfaces, and founded The Boring Company, a tunnel construction company. Musk has proposed the Hyperloop, a high-speed vactrain transportation system.
We get it. You hate people with money. It's called jealousy.
You still didn't explain how they work for their fortune you just explain what Musk used to do with his fortune.
Again. A very simple question. How do Billionairs work for their fortune? And seriously is that question already seen as questionable or crticism? Why? I have some friends that are enterpreneurs too. And I know what they work. And what they do. Some are wealthy. Some not. But they all "work".
And would you please stop using words you obviously seem not to grasp? Like jealousy. How am I jealous? Explain it to me like I was a 5 year old. If you can't have a grown up debate about wealth and billionairs then why bother in the first place?
Again. A very simple question. How do Billionairs work for their fortune? And seriously is that question already seen as questionable or crticism? Why? I have some friends that are enterpreneurs too. And I know what they work. And what they do. Some are wealthy. Some not. But they all "work".
And would you please stop using words you obviously seem not to grasp? Like jealousy. How am I jealous? Explain it to me like I was a 5 year old. If you can't have a grown up debate about wealth and billionairs then why bother in the first place?
Morgan_
Duckerz
Just to be clear, Musk doesn’t have 200+ billion dollars. Net worth is combined assets and debts. He founded most of these companies and has a huge number of shares due to this. being a large investor in his own companies that are publicly traded gives him a lot if power over them. This is where a lot if his net worth is coming from.
I wasn’t asked this, but if I were to answer how he worked for it it would be through starting these companies and then being their lead strategist while they grew into successful business like what we see now. No man is an island of course, but he is basically the key stone that is the arch (so to speak) these jobs and technologies are.
I don’t have a problem with his wealth, but I do have a problem with him trying to shake off taxes being as rich as he his and will continue to be.
I wasn’t asked this, but if I were to answer how he worked for it it would be through starting these companies and then being their lead strategist while they grew into successful business like what we see now. No man is an island of course, but he is basically the key stone that is the arch (so to speak) these jobs and technologies are.
I don’t have a problem with his wealth, but I do have a problem with him trying to shake off taxes being as rich as he his and will continue to be.
Gizmojunk
Antediluvian as Feck
Question: On a hypothetical island of 300 people... if one of them started the blacksmith forge, the fishery, the fletcher, the bowyer, and the wheelwright——owned them all, and hired craftsmen & mariners to run them.....
And if 280 of the inhabitants were food vendors, artists, 'beach-bums', or made grass hats, and macaroni art as crafts....
Does it make sense that the 1 pay more in taxes than the others? And if so... why exactly?
If the answer is because they were able and resourcefull enough to earn more... then what incentive is there for them to further innovate and to start other businesses?
(When with every success, they are penalized further. Could they not just chuck it all, and be a beach bum themselves; ignore their inspired inovations, and let the rest manage for themselves——and then need only pay a 1000th of their previous tax bill.)
It's just hypothetical, but I have always wondered how anyone could consider it fair; because many would seem to do just that.
And if 280 of the inhabitants were food vendors, artists, 'beach-bums', or made grass hats, and macaroni art as crafts....
Does it make sense that the 1 pay more in taxes than the others? And if so... why exactly?
If the answer is because they were able and resourcefull enough to earn more... then what incentive is there for them to further innovate and to start other businesses?
(When with every success, they are penalized further. Could they not just chuck it all, and be a beach bum themselves; ignore their inspired inovations, and let the rest manage for themselves——and then need only pay a 1000th of their previous tax bill.)
It's just hypothetical, but I have always wondered how anyone could consider it fair; because many would seem to do just that.
If you ask me it's so hypothetical that it serves no purpose in the discusison, with all due respect, because the case in front of us is incredibly more complex. Answering your question or scenario would simply create a different kind of debate. You do not really gain more insight, in my humble opinion, if you simplyfy the situation so much where you get a scenario that's either unrealistic or is not comparable with a nation for 300+ Million people with all the intricacy of how political opinions are formed, the implenetation of legislations and requirements of infrastructure in a modern society.
Realistically speaking an island of 300 people - which do exist out there - would most likely organise very differently depending on their needs, kulture and environment to a nation like the United States or a Union like the European Union. When you look at all those tribal cultures trough out history they have always been organised as communities with a large emphasis on collaboration rather than competition. Simply because when you're such a small community it is a necessity of survival. So it is very unlikely that you will find one person that owns and hoards it all.
Besides, I was merely asking a rather simple question. Which no one yet has even attempted to acatually answer. How do Billionairs work for their fortune?
I can only speculate on the why here anyway. Which I find the interesting part to be honest. But I feel that some, not everyone, are kinda avoiding the answer - I assume - as it actually scratches on the whole idea on what we define as labour and work for our self and most people around us which we see in our every day life and the conflict which would surface if we apply it to billionairs.
Just for the record. I do recognize that not all billionairs are the same. It makes a difference if you're simply inhereiting wealth or if you're actually utlizing the wealth from a company that you created. Think about Paris Hilton vs. Bill Gates here. But the question, how do billionairs work for their wealth still stands. Because as Morgan said, that wealth is the company and not a single individual. Someone like Bezos, Musk or Gates which hold a large number of shares have more power. But they are not necessarily the hardest working member. When we define work as something physical, where you have to be there to do a job. Someone has to engineer, deseign, build and actually sell all that stuff that's making the company. The value, the wealth we're talking about are the people. It's always about the people. If no one would put their trust in a Tesla car or a SpaceX rocket to do it's job then Shareholders like Musk would have absolutely zero power.
So if someone would ask me how do billionairs work for their wealth? Then my answer would be, by letting others work for it. It's probably a too simple answer considering how much more plays a role here too. But at the end of the day I think it comes the closest to an accurate describtion of how billions in assets or wealth is created. It is for example what also some economists talk about when they mention the differences between share holders vs. stake holders.
Realistically speaking an island of 300 people - which do exist out there - would most likely organise very differently depending on their needs, kulture and environment to a nation like the United States or a Union like the European Union. When you look at all those tribal cultures trough out history they have always been organised as communities with a large emphasis on collaboration rather than competition. Simply because when you're such a small community it is a necessity of survival. So it is very unlikely that you will find one person that owns and hoards it all.
Besides, I was merely asking a rather simple question. Which no one yet has even attempted to acatually answer. How do Billionairs work for their fortune?
I can only speculate on the why here anyway. Which I find the interesting part to be honest. But I feel that some, not everyone, are kinda avoiding the answer - I assume - as it actually scratches on the whole idea on what we define as labour and work for our self and most people around us which we see in our every day life and the conflict which would surface if we apply it to billionairs.
Just for the record. I do recognize that not all billionairs are the same. It makes a difference if you're simply inhereiting wealth or if you're actually utlizing the wealth from a company that you created. Think about Paris Hilton vs. Bill Gates here. But the question, how do billionairs work for their wealth still stands. Because as Morgan said, that wealth is the company and not a single individual. Someone like Bezos, Musk or Gates which hold a large number of shares have more power. But they are not necessarily the hardest working member. When we define work as something physical, where you have to be there to do a job. Someone has to engineer, deseign, build and actually sell all that stuff that's making the company. The value, the wealth we're talking about are the people. It's always about the people. If no one would put their trust in a Tesla car or a SpaceX rocket to do it's job then Shareholders like Musk would have absolutely zero power.
So if someone would ask me how do billionairs work for their wealth? Then my answer would be, by letting others work for it. It's probably a too simple answer considering how much more plays a role here too. But at the end of the day I think it comes the closest to an accurate describtion of how billions in assets or wealth is created. It is for example what also some economists talk about when they mention the differences between share holders vs. stake holders.
TJQKA
Boomer Anarchist
The secret is that it's all insider information and you guys do not have that information because in the Big bad Business world it's all about who's on first base. PayPal however was a cute idea and then it took off. Jeff bezos's insider information was his experience with organization of information. His whole stick was to collect all of the information so he is the ultimate insider.
TJQKA
Boomer Anarchist
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I honestly believe people way to often tend to completely overlook how much simply luck actually factors in to it when we're talking about billionairs specifically. I Quote :
There is an element of ‘luck’ in every success story. Other names for it include grace, favor, good fortune, chance, and so on.
You can find millionaires who would brag to say that they worked hard to get to where they are. But billionaires are often humble when it comes to this. And there is a reason.
Billionaires have experienced success that humbles their hard work. You can work hard and be a millionaire. But if you are going to be a billionaire, you need to have some ‘luck’.
Almost all billionaires agree that their level of success goes beyond hard work. But hard work is the only way many of them know to prepare themselves for good fortune.
Anyone who tells you that success is solely based on hard work is either lying or hasn’t experienced overwhelming success. This is not making light of working hard. It is just showing that there are other angles people rarely notice.
Most billionaires know someone smarter and more hardworking than they are who haven’t come close to what they have achieved. So, luck matters.
From a broad perspective, luck is a skill. But there are some lucky advantages that count that people rarely notice.
The reason I am pointing them out is that if these advantages are working against you, it is much harder to achieve success. So, it is better to focus on them and turn them in your favor before chasing any business success.
These are 7 lucky advantages that all billionaires have. Most of them are not conscious advantages so even the billionaires rarely notice it.
All Billionaires Have Lucky Advantages You Rarely Notice | by David O. | The Startup | Medium
There is an element of ‘luck’ in every success story. Other names for it include grace, favor, good fortune, chance, and so on.
You can find millionaires who would brag to say that they worked hard to get to where they are. But billionaires are often humble when it comes to this. And there is a reason.
Billionaires have experienced success that humbles their hard work. You can work hard and be a millionaire. But if you are going to be a billionaire, you need to have some ‘luck’.
Almost all billionaires agree that their level of success goes beyond hard work. But hard work is the only way many of them know to prepare themselves for good fortune.
Anyone who tells you that success is solely based on hard work is either lying or hasn’t experienced overwhelming success. This is not making light of working hard. It is just showing that there are other angles people rarely notice.
Most billionaires know someone smarter and more hardworking than they are who haven’t come close to what they have achieved. So, luck matters.
From a broad perspective, luck is a skill. But there are some lucky advantages that count that people rarely notice.
The reason I am pointing them out is that if these advantages are working against you, it is much harder to achieve success. So, it is better to focus on them and turn them in your favor before chasing any business success.
These are 7 lucky advantages that all billionaires have. Most of them are not conscious advantages so even the billionaires rarely notice it.
All Billionaires Have Lucky Advantages You Rarely Notice | by David O. | The Startup | Medium