Bobby_2021

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About Bobby_2021

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  1. What is your opinion regarding taxation backfiring? This is also the major right wing talking point. What if the rich simply leave taking away the jobs with them? Isn't that going to hurt everyone. Is practicality undermined when we dicuss taxation? https://www.theguardian.com/world/2014/dec/31/france-drops-75percent-supertax France taxed at 75% income earners above $1M and it led to 42,000 millionares leaving the country. Later it was scrapped. "In 1990, twelve countries in Europe had a wealth tax. Today, there are only three: Norway, Spain, and Switzerland. According to reports by the OECD and others, there were some clear themes with the policy: it was expensive to administer, it was hard on people with lots of assets but little cash, it distorted saving and investment decisions, it pushed the rich and their money out of the taxing countries—and, perhaps worst of all, it didn't raise much revenue." What is your opinion regarding taxation backfiring? This is also the major right wing talking point.
  2. @Preety_India Spirituality is materialism. Materialism is love. Just conduct yourself consciously and it won't matter too much,.
  3. @Leo Gura I think you are focusing on the end result too much. Of course we all want free schools, colleges & healthcare, funded by taxes on the top 1%. But the whole problem is that the top 1% is EXTREMELY GREEDY & MANIPULATIVE that they are not willing to redistribute their wealth. That's why we need a foolproof strategy to tax the rich. If you don't know how to deal with how to tax my $100m shirt, I am afraid you won't be able to touch billionares. Because that's how billionares avoid taxes in practice. I am NOT talking about some out of touch with reality abstract world. The only change is that they use fancy watches and fine art to evade taxes, instead of a shirt. You cannot sell a "portion of your shirt" like you do with stocks. Watch this video for more : But I get the idea with stocks. Above a certain degree of net worth( say $10m) , billionares must sell a portion of their stocks to pay wealth tax. I am sure that there will be some practical difficulties with implementing this as well, we have to discuss about this more as vast majority of people still think that billionare still hold billions of dollars in cash lol. This is just a projection of themelves.
  4. Distributing 199 billion isn't as easy since that money isn't tied up as cash. Instead that's the price of the stocks in Amazon. He can convert that money only if he sells those stocks. Please don't think so simplistically.
  5. Everytime I raise an argument to tax the billionares in an attempt to reduce inequality and give power to the people, I get thrown the same question. The billionares net worth isn't tied up as cash. Instead their net worth is only becaue their stocks in their company is so large. So we can't tax them directly. Honestly it is a good question. For eg: If I have a T-shirt that is worth $30$, my net worth is also $30. Now lets say I got it signed by Roger Federer and now everyone wants it. People are willing to pay it $100 million for my shirt, but I haven't sold it yet. But my net worth also increased to $100 million. How shall I be taxed then? I want the most detailed and elaborative answer. Thank you.