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Grotesque stock valuations for companies.

Ziggurat said:
His secretary is not poor. The claim was the rich paid less than the poor, not less than the upper middle class. And don't confuse marginal rates with total rates either.
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I never said she was. She's definitely middle class.
 
Ziggurat said:
And I didn't say you said that.

But again, the claim was about rich vs poor. Since she isn't poor, her situation doesn't address that claim.
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The claim is the rich are not taxed enough. The poor don't pay income taxes. But they do pay a lot of other taxes. They aren't paid enough when they work. But aye, there's the rub, automation, computers and ai have been destroying almost all the jobs.

Agriculture jobs, gone.
Mining jobs, gone
Manufacturing jobs, gone
Retail jobs, gone.
Theater and movie jobs, going.
Now software and office jobs, are going.

What's left?

No jobs = no income = no consumption = growing poverty.

How does this work? Most efficient man has ever been and quality of life has gotten worse for more and more people.

But don't worry. Elon Musk is at the helm. The two companies he is in charge of has posted very little profit over two decades and that made him the richest man in the world? What a ◊◊◊◊◊◊ up system.
 
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"Taxation, gentlemen, is very much like dairy farming. The task is to extract the maximum amount of milk with the minimum of moo. And I am afraid to say that these days all I get is moo." - The Patrician, Terry Pratchett, Jingo
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The level to wish the rich, very rich, extremely rich, super rich and insanely rich complain about giving more to the funding of the society they utter depend on is not only sociopathic and short-sighted, it is pathetic loser behavior, a clear sign of deep insecurity that no amount of money can alleviate.

The problem of too much wealth is one that throughout history The Rich have addressed by sponsoring lavish project for the Common Good: Cathedrals, Libraries, Schools, Universities, Museums, Scholarships, Housing etc. etc. etc.

Not only did that pacify enough people so the pitchfork&torches didn't have to come out, it gave The Rich the one thing todays billionaires crave above all and will never get by hoarding their money: a type of Immortality.
 
The Great Zaganza said:
The level to wish the rich, very rich, extremely rich, super rich and insanely rich complain about giving more to the funding of the society they utter depend on is not only sociopathic and short-sighted, it is pathetic loser behavior, a clear sign of deep insecurity that no amount of money can alleviate.

The problem of too much wealth is one that throughout history The Rich have addressed by sponsoring lavish project for the Common Good: Cathedrals, Libraries, Schools, Universities, Museums, Scholarships, Housing etc. etc. etc.

Not only did that pacify enough people so the pitchfork&torches didn't have to come out, it gave The Rich the one thing todays billionaires crave above all and will never get by hoarding their money: a type of Immortality.
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There it is. Malicious envy. We have to tax these rich people to punish them. Pay no attention to the waste and graft of greedy government.
 
Trausti said:
There it is. Malicious envy. We have to tax these rich people to punish them. Pay no attention to the waste and graft of greedy government.
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But pay attention to fewer jobs, worse pay, rising prices, crumbling infrastructure, and bad or no healthcare.

Is it malicious envy to want basic needs fulfilled? Is it malicious envy to want every American to have a roof over their heads? Is it malicious envy to want to see Tesla and Amazon employees receive a living wage? To be able to feed their children well? See them get a good education?

Tell me, just how imbalanced does it have to get before you say, "perhaps this has gone too far?"
 
Trausti said:
https://twitter.com/x/status/2063587273506197748
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That's a fallacy. Correlation is not causation. A rise in taxes may or may not be relevant. For decades now, since the so called Reagan Revolution the top marginal income tax rate has been between 40% to 55% what it was between 1940 and 1981. What has been the result? We certainly have more gadgets, but life is much much harder for more and more people. And the richest domination over everyone and everything is sickening.
 
Since the thread is about grotesque valuations, I thought it's worth pointing out we're about to have the world's first trillionaire.

The SpaceX issue is very well over-subscribed and people are going to get very rich from it. Musk most of all.

If only all taxes were lower, the minimum wage earners might be able to afford a tenth of a share and start building their wealth.
 
The Atheist said:
Since the thread is about grotesque valuations, I thought it's worth pointing out we're about to have the world's first trillionaire.

The SpaceX issue is very well over-subscribed and people are going to get very rich from it. Musk most of all.

If only all taxes were lower, the minimum wage earners might be able to afford a tenth of a share and start building their wealth.
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You know Elon Musk will not really have a trillion dollars, don't you? If I create a company with a trillion and one shares and I sell you one share for a dollar, then I become a trillionaire in the same way as Musk will be a trillionaire.

If you try to tax Musk even 1% of that trillion dollars, he'd probably struggle to raise the money. If you did it annually he'd be bankrupt before very long.
 
jeremyp said:
You know Elon Musk will not really have a trillion dollars, don't you? If I create a company with a trillion and one shares and I sell you one share for a dollar, then I become a trillionaire in the same way as Musk will be a trillionaire.

If you try to tax Musk even 1% of that trillion dollars, he'd probably struggle to raise the money. If you did it annually he'd be bankrupt before very long.
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You do understand that both a share of stock and a dollar have no intrinsic value. And their values is based on perception?
 
acbytesla said:
You do understand that both a share of stock and a dollar have no intrinsic value. And their values is based on perception?
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That's not true (well, it is in the case of my hypothetical trillion dollar company).

A share is a piece of a company. That company has an intrinsic value. It has assets and liabilities plus - hopefully - income.

A dollar is a piece of US government debt. The government tends to demand dollars off you in the form of taxes. If you don't have the dollars it demands, you can go to prison.
 
Trausti said:
https://twitter.com/x/status/2063587273506197748
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you know what rose, too?
budget for Police Departments despite lower crime rates - for decades.
If you want police, you have to pay for it, and if people earn less, you have to raise taxes so that cops can continue to be corrupt and violate constitutional rights.
PDs are usually a bigger share of a municipal budget than schools.

Why do billionaires always complain about US schools but never fund them?
 
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