I hate that so much credence is being given to the words of that mouth breather. Dude was born with an emerald spoon in his mouth and has a god complex because he bought a car company.
They don’t actually have 1 billion dollars tho, they have stocks with an estimated value of 1 billion dollar. I don’t think there’s an effective way to tax that.
More realistically you can make more tax brackets for levels of income higher than $500k. Cash income regularly exceeds this for CEOs.
You can also pass laws restricting how much can be paid out in ways other than cash both in value and percentage of shares. Or increase capital gains tax further past certain limits (this has already happened in 2013). Or have a graduated tax on loans taken against certain collateral (like stocks, bonds).
The laws themselves can get a bit complicated but such is law. There are plenty of ways to make sure the rich pay their fair share. They just don’t want us doing it.
It’s generally just beneficial for ultra high tax rates as wealth goes up. That’s what actually incentivizes “trickle down economics”. As the uber wealthy approach the tax limit it stops making sense for them to horde the wealth. And, instead of letting the tax man get it most of them decide to put their money back into the businesses or charities or whatever.
There is a limited amount of time you can maintain that profile without making things. 10 years ago people didn’t know he lied most of the time but now we know because nothing he ever promises comes true.
Also he got super duper divorced. He is the most divorced anyone has ever been.
Ah yes, “I don’t want to say gay and intersex people shouldn’t be allowed to vote, but I do want it to happen.”
Anyways I’m sterile and drive the most fuel efficient vehicle practical, don’t eat meat, and have made other sacrifices for future generations to have a habitable planet. Musky here has a private jet and at least one of his kids hates him
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