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Joined 2 years ago
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Cake day: August 24th, 2023

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  • This isn’t a tax on wealth, it’s a tax on income.

    There probably isn’t a single billionaire out there with a billion dollar income in any given year unless they’re doing some massive sell off like when Musk sold shares to buy twitter.

    What actually happens, is the more wealth you have, the less income you’re actually likely to have at least in proportion to the wealth, because you start doing things like taking loans out against your shares in a company, and potentially never pay it back until you die at which point the estate will pay it off, but I think there’s even some weird estate transfer things that make that favorable to them as well.