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Joined 1 year ago
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Cake day: September 13th, 2023

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  • The issue with this idea is that it doesn’t reflect how stocks work. Think about it like this: Owning a stock is like owning a block of gold. The value of the gold can go up or down. One year the value of your gold block could double and another year it could half. However, the actual value of your gold won’t be determined until you actually sell it. The tax your proposing isn’t a tax on wealth, but rather a tax on exchange rates. Besides if the stocks aren’t cashed then no harm is done. That money is being used and invested by the business.

    I don’t think the issue is with the things we tax. We have good tax policy on that. The issue is that the system is flawed because corporations keep lobbying for new loopholes. If you want to see billionaires and corporations pay their faire share then we have to go after these loopholes. There should absolutely zero reason why individuals like you and me pay more in taxes than corporations like Salesforce, Nike, and FedEx. I’m not even talking about percentages here, we literally pay a larger monetary amount than they do. Actually some of these corporations get rebates for their profits. These are the type of things we should go after. We have to dig through the tax code, find every loophole, and hound our politicians to close them… And oh, not open new ones.






  • Gorilladrums@sh.itjust.workstoLefty Memes@lemmy.dbzer0.comfair share?
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    1 year ago

    That is actually the case. Billionaires aren’t swimming in a room full of cash and they don’t some some secret mega vault that holds $100 billion. Most of these guys are founders of very successful corporations, and so they naturally have a larger than average share. Bezos has most of his wealth in Amazon stocks, Zuckerberg in Meta, Musk in Tesla and SpaceX, Gates in Microsoft, and so on. Their wealth goes up and down depending on how well the company they’re most tied to is doing. In the US and most other places, stocks aren’t taxed until they’re sold. Once a transaction happens, there will be a tax. Usually tax rates go up with profits and income, and there are deductions for losses (to a degree). It’s an okay system, the issue is that it isn’t being enforced. Our system is full of loopholes that these billionaires exploit to pay way less than they should. But billionaires not paying taxes are nothing compared to corporations not paying ANY taxes on billions in annual profits. That’s what we should go after.


  • Gorilladrums@sh.itjust.workstoLefty Memes@lemmy.dbzer0.comfair share?
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    1 year ago

    Being a millionaire isn’t really that much of an accomplishment anymore, unless you’re talking about hundreds of millions. For most people just owning a house, having a good retirement fund, and a couple of other assets/investments (cars, a small business, some stocks, etc) puts them over $1 million. A lot of middle class grandparents are in that tier, especially in Massachusetts.









  • Okay, mild progress… But where’s the data for it?

    Also, this is from the methodology pdf:

    We used the following sources to recruit respondents: ● targeted advertisements using the Meta advertising >platform ● SMS text messages

    Regardless of which of these sources a respondent came from, they were directed to a survey hosted on SurveyMonkey’s website.

    Ads placed on social media targeted likely voters nationwide. Those who indicated that they were not registered to vote were terminated. Those who indicated they were over the age of 34 were terminated. As the survey fielded, Change Research used dynamic online sampling: adjusting ad budgets, lowering budgets for ads targeting groups that were overrepresented, raising budgets for ads targeting groups that were underrepresented. The survey was conducted in English.

    So this is a self reported online poll with 84 oddly phrased questions that was advertised primarily on Instagram and Facebook and conducted on a redirected website. The methodology seems dodgy, and even the people conducting it agree:

    We adopt The Pew Research Center’s convention for the term “modeled margin of error”(1) (mMOE) to indicate that our surveys are not simple random samples in the pure sense, similar to any survey that has either non-response bias or for which the general population was not invited at random. A common, if imperfect, convention for reporting survey results is to use a single, survey-level mMOE based on a normal approximation. This is a poor approximation for proportion estimates close to 0 or 1. However, it is a useful communication tool in many settings and is reasonable in places where the proportion of interest is close to 50%. We report this normal approximation for our surveys assuming a proportion estimate of 50%

    Thanks for the link regardless