It's Shopify's Tobi Lutke.

A reminder that he's behind Build Canada and Build Toronto, and that Build Toronto's Eric Lombardi is running for the Ontario Librral Party leadership as we speak.

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[–] 112 points 3 months ago (5 children)

Billionaires shouldn’t exist.

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  • [–] 33 points 3 months ago (3 children)

    That is why we need to tax them.

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  • [–] 45 points 3 months ago (2 children)

    Yes. We need to... tax... them.

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  • [–] 59 points 3 months ago (1 child)

    Why should billionaires get to vote? They live in an alternate reality.

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  • [–] 45 points 3 months ago

    Billionaires are such fucking parasites...

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  • [–] 32 points 3 months ago (1 child)

    Under fire? Why do you guys keep missing?

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  • [–] 28 points 3 months ago (5 children)

    Financial obesity is an existential threat to any society that tolerates it, and needs to cease being celebrated, rewarded, and positioned as an aspirational goal.

    Corporations are the only β€˜persons’ which should be subjected to capital punishment, but trillionaires should be forced to transition into billionaires, and billionaires should be euthanised through taxation.

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  • [–] 3 points 3 months ago

    I just want world wide wealth caps. 10 million is the max that any person canboen or control. Any additional income after that goes 100% straight to taxes.

    This simple rule has wide spread implications from ending poverty to likely ending wars, removing power from narcissist politicians, and souch more

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  • [–] 21 points 3 months ago (2 children)

    Talk like this is almost like they are BEGGING for the guillotines to start rolling out.

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  • [–] 21 points 3 months ago (1 child)

    Under fire? Put him in the fire.

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  • [–] 16 points 3 months ago (2 children)

    Why is everyone that has worked on Ruby on Rails a total and utter douchebag? should be studied how that one project seems to have spawned some of the biggest bigoted asshole douches in the tech industry.

    Lutke is a moron just like DHH is a moron and surprise surprise they're both from RoR.

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  • [–] 15 points 3 months ago (15 children)

    I just want world wide wealth caps. 10 million is the max that any person canboen or control. Any additional income after that goes 100% straight to taxes.

    This simple rule has wide spread implications from ending poverty to likely ending wars, removing power from narcissist politicians, and souch more

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  • [–] 4 points 3 months ago* (last edited 3 months ago)

    On it's own that won't end poverty, but coupled with something like a basic income it could. It would definitely end all the extreme wealth stupidity, and if it was retroactive nobody could really flee with their wealth, like they might manage to with a lesser wealth tax.

    You might want to go up to 15, though. There's bound to be some sympathetic retiree couple with a house in inner Vancouver.

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  • [–] 3 points 3 months ago (1 child)

    Yes. but corruption always exists. Caps just push that wealth underground. There are no simple answers like that.

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  • [–] 1 point 3 months ago

    That won't be as easy as you think. Again, how would you do that if monetary incentives are mostly gone? If nobody is poor enough to help with evil plans, evil plans become really hard.

    Heck, add in another simple rule: make all wealth information public. If nobody is poor and nobody really rich, there won't be much incentives to abuse that information and if we know peoples worth, it will be glaringly obvious that somebody is cheating

    I know that this is an obvious oversimplification bit small changes like these areuch easier to implement than say "let's all become anarchist and the world will be fine!' because that will never happen.

    These small changes keep everything else the same and at least it solves a huge list of problems from people dying from hunger to most crime to most wars to climate change. All of these mentioned are mostly only possible because we allow extreme wealth.

    Take extreme wealth away and the world would be so much better

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  • [+] 2 points 3 months ago (4 children)
  • [–] 1 point 3 months ago (2 children)

    The multimillionaires would end inflation very quickly.

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  • [+] 1 point 3 months ago (2 children)
  • [–] 1 point 3 months ago (1 child)

    Inflation would steadily decrease their real wealth cap. Wealth includes investments.

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  • [–] 1 point 3 months ago

    Why?

    Why 100 million?

    I get that the number of 10 million is arbitrary, hell, I just semi randomly picked it, but a 10 million net worth gets you A LOT more than you actually need.

    Why allow 100 million, though? 10 million is more than any person would need to love an actually full life with travel and plenty of whatever, and you could still invest some money in a small company. Want a bigger one? Join a bunch of people and make a bigger one.

    100 million gets into the range where youncan project power over others and that is the entire thing that got us where we are. No person should hold large amounts of power, humanity has shown over and over that that is a very bad idea.

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  • [–] -3 points 3 months ago (7 children)

    A 100% income tax means there's no incentive to remove profits from a business beyond that income, since you can't spend any of it, so it will just encourage increased accounting trickery to justify "business expenses" for things like purchasing private islands, sports cars, and luxury vacations.

    80% is high enough; for every $10 million they withdraw for personal spending, they keep 2, and the other $8 million would go to pay for the services requested to run the rest of the country that enables them to produce their wealth. (Including all their employees and customers.)

    Then we still benefit from the efficiencies inherent in the profit motive while having the ultra wealthy pay their fair share.

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  • [–] 8 points 3 months ago* (last edited 3 months ago) (1 child)

    That was a wealth tax, not a tax on income. So, nobody would be worth more than 10 million, and earning 10 million is almost out of the question. That means you can't own a huge business by yourself, to start with.

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  • [–] 6 points 3 months ago (4 children)

    I might argue that if any single individual is in the position to collect $10M+/year, the economic system is already dysfunctional. That individual is operating as a gatekeeper rather than a value center and the position they occupy needs to be broken up and reorganized.

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  • [–] 2 points 3 months ago (3 children)

    I could imagine a top surgeon or pro athlete legitimately earning that much from their own labor alone.

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    [–] 14 points 3 months ago (1 child)

    I used to work at Shopify. Wouldn't recommend it.

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  • [–] 12 points 3 months ago

    This is the same company that simps for PP and MAGA

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  • [–] 11 points 3 months ago

    My brother was one of the first 10 or so hires of Shopify so seeing the little company grow into the massive company it is now in the 2010s made me like this guy a lot. He seemed to treat the team with respect and recognized/rewarded them for their work.

    Then he totally ended up being yet another shitty billionaire (MAGA supporter iirc).

    Thankfully, my brother quit before Toby's dickishness was made obvious, and so he remains the nicest, down-to-earth guy that I know.

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  • [–] 10 points 3 months ago

    Billionaire people shouldn't be able to vote.

    They have power through capital already, they don't need more.

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  • [–] 9 points 3 months ago (1 child)

    Classism is usually brought up as a word when identity politics writers want to pay lip service to it. But this is classism.

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  • [–] 9 points 3 months ago (2 children)

    He’s right though. The oligarchs having to own news and social media to get the election outcomes they want, and then also having to lobby those politicians to enact the right policies is incredibly inefficient. It would be simpler if the politicians were unelected and simply payrolled employees of the owner class.

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  • [–] 9 points 3 months ago

    "Poors under fire for thinking that killing billionaires should be legal".

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  • [–] 7 points 3 months ago*

    It is so frustrating when I become responsible for the neighborhood problems

    Edit that was for a different thread but fuck it

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  • [–] 7 points 3 months ago

    It used to be that only property owners could vote. The laws all favoured the property owners.

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  • [–] 7 points 3 months ago* (1 child)

    When you said "under fire" I thought you meant literally, as in there is a squad of soldiers currently training their machine guns on the lad's home.

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  • [–] 7 points 3 months ago (2 children)

    Has he considered that voting is free, but bullets are cheap? If he were smart, he'd be wary of taking the ballot box out of the equation.

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  • [–] 6 points 3 months ago* (last edited 3 months ago) (2 children)

    Every single billionaire admits they've been lucky. They aren't special, they're just lucky to have more than their fair share.

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  • [–] 6 points 3 months ago (1 child)

    That's not my experience. I've only ever heard them claim that they worked hard to get what they have. Admitting that luck was involved would mean they don't deserve to be that wealthy, and they would never admit that.

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  • [–] 1 point 3 months ago*

    oh yeah, they all admit to some luck, hard work, being opportunistic and luck. it goes without saying, at least in that you have to be born with suitable conditions, come accross the right people, get the right information, etc. billions of people "work hard", but there aren't enough billions to flow to everyone working hard.

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  • [–] 6 points 3 months ago

    They keep talking like that and β€œthe poors” might have to do something about it. There’s a historical precedent. At the end of the day there a lot more of us than there will ever be of them.

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  • [–] 5 points 3 months ago

    under fire

    Oh?

    figuratively

    Oh.

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  • [–] 5 points 3 months ago (1 child)

    Assuming Tobi Lutke makes at least 8% roi on his investments, he could give every homeless person in canada 20grand a year using just the interest.

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  • [–] 4 points 3 months ago

    He should be on fire, not "under fire".

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  • [–] 4 points 3 months ago (2 children)

    I do understand the frustration with the fact that people who are working have less time to be politically active than retirees, but I don't really see any way around it. The flip side is that a lot of great volunteers retire into community service and have a lot of extra time to help the community because they no longer work.

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  • [–] 6 points 3 months ago (1 child)

    Doing political things, like attending town hall meetings or party fundraisers, could count for tax rebates like donations do, and a certain amount of days off work each year could be required to be available for such things.

    Election days could be national holidays, and local election days local holidays.

    If being poor or being required to work is really that much of an issue, I'm sure a billionaire could afford 60k UBI for ten thousand people.

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  • [–] 4 points 3 months ago* (last edited 3 months ago) (2 children)

    I actually find his idea of weighed voting based on tax paid a good idea. But then percentage wise based on both income and wealth. So if you pay 2% tax you get 2 votes, if you pay 50% you get 50 votes.

    Awwww too bad billionaires don't / barely pay taxes. No votes for those arrogant rich assholes. Now we can vote to arrest billionaires who don't pay taxes, imprison them for tax evasion and Epstein files and take away their wealth which can be used to improve quality of life of the general public.

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  • [–] 1 point 3 months ago

    Nah there's no way that ends up working out to the betterment of the people. Rich people are the ones in power and they will engineer it so they stay in power and get even more. They would rather change tax policy so that they pay all of it. That would allow them to consolidate power to they point that they can exploit people even more and come out even richer. Even if they make less money, being able to directly pay for power would be a worthy trade off. It's better that voting reflects the value that all people are inherently equal.

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