Eventually something has to give...

[u/Veshaad]

The bill would provide a $3,000 direct payment to every person in households making $150,000 or less during its first year, which equals $12,000 for a family of four.

[u/unhertz]

Assumes a 5% wealth tax would reliably raise $4.4 trillion every year, ignores tax avoidance, asset sales, legal challenges, and the fact that billionaire wealth isn't cash sitting in a bank account. Then it promises to fund a $12,000 check for every family, raise teacher pay, and expand Medicare as if there are no tradeoffs. Whether you support taxing billionaires or not, you have to recognize how disingenuous this is framed

[u/SinningAfterSunset → u/unhertz]

These people think Elon has a trillion sitting in a bank account and he's just sitting on it and he's the reason they can't afford to pay rent.

[u/Da40kOrks → u/SinningAfterSunset]

Yes they think Scrooge McDuck is reality.

[u/Dismal_Act2082 → u/SinningAfterSunset]

Perfect then the loans that he gets from his stock portfolio should be taxed at 95%.

[u/SinningAfterSunset → u/Dismal_Act2082]

What's the point of taking a loan then?

[u/Dismal_Act2082 → u/SinningAfterSunset]

That's the point. The comment I was commenting on, said it's not like he has trillions and trillions of dollars in the bank. It is true he probably doesn't , but he can do tax free loans from his stock portfolio. This is one of hundreds of ways that ultra wealthy used to not pay taxes.

[u/QuirkyObligation6048 → u/Dismal_Act2082]

You can do it too on a smaller scale and build wealth. Why are people demonizing people that use the tax rules in their favor? You can do it too. And it you're not trying to reduce your tax burden then thats on you and its fumb to pay more than you are required.

[u/SinningAfterSunset → u/Dismal_Act2082]

I'm aware of that, I know of a few real estate people that live off loans and use rentals to pay back the loans. I'm like, dang I wish I leaned that when I was in my early 20's.