cross-posted from: https://slrpnk.net/post/43627590

A one-time 5% wealth tax would bring Silicon Valley’s billionaires’ wealth back to where it was just 31 days ago, on September 7.

When it was "just" 178% higher than on January 1, 2023.

They’d rather let 3 million people lose their health insurance than let that happen.

Graph here: https://cabillionairetracker.org/

Rather than paying their fair share of taxes, Sergey Brin, Pether Thiel, and Patrick Collison prefer to spend tens of millions to manipulate the vote.

Stupefying levels of greed and lack of civil-mindedness.

$45 million in a week: California’s wealthy aren’t holding back to try to stop ‘billionaire tax’

All credits to Gabriel Zucman

I'm glad to see this. So many people don't understand how ridiculous it is that we aren't taxing the billionaires more. Their rate of wealth accumulation is INCREASING and fucking fast too. Elon missed his latest chance to hit trillionare status but it's still almost inevitable. The runaway wealth accumulation by this relatively tiny handful of people is actively destroying any semblance of democracy in our country and restoring tax levels to the same as even 50 years ago would go a long way towards fixing the issue.

But I might be a billionaire here soon and I don't want to pay that tax myself...

I always ask people "how long is a million seconds?" Then i ask then "how long is a billion seconds?"

A million seconds is about 11.5 days. A billion seconds is almost 32 YEARS.

A million dollars would change almost everyone's life. NOBODY needs a billion dollars.

What if the money supply was increased by 5%, and the new money distributed as UBI? Wouldn't the drop in the currency value be as effective as, if not more than, a wealth tax? (This is just a rough idea with a bunch of flaws that need refining, as well as second- and maybe third-order effects that need to be accounted for)