Idk it's pretty gross if you ask me

Financial obesity is a great term.

If he's worth that much does it go to the person with his head?

£50 million puts a person in the top 0.1% in the US. Someone with $15 million net worth is already a 1 percenter in the US and world wide probably a $1 million in net worth puts you in the 1% of the world

Yes We must take action

Ive got like 6 accounts, basically fuck all in any of em, do i still get your guillotine? :(

I don't think this will have the effects you think it will

Most of his net worth is still in Amazon stocks.

Being a CEO doesn’t come into it

Yep! That’s just what he made this year by owning 9.5% of the company he used to sit around at for a cumulative month every year for.

Had Batman used the money spent on his batcave and bat-gadgets into social services, the criminality in Gotham would probably have gone down more than by punching some guys in the face.

Nah, let’s tax them as realized gains, because if you are using your unrealized gains as collateral, is that not a form of realizing their value?

I don’t care TBH, whichever one costs them more.

If only there was a way to make sure the tax isn't levied on normal people... Oh well.

Portfolio loans need to be taxed. Absolutely. You can pay 1% interest on a loan vs ~30% on income taxes. Something will need to be done about shell corporations holding personal assets as well. His yacht isn’t in his name.

We absolutely pay taxes on unrealized gains. Property tax is the tax of unrealized gains. We do it for houses why can’t we do it for stocks? He’s getting dividend checks worth moillions every quarter.

Just tax wealth at twice the rate of inflation above 500 million dollars.

The rich don't pay taxes on unrealized gains. The poor do. You haven't realized any gains on your house by owning it, but the taxes go up every single time it is re-assessed in value.

Tax their net worth. The tax should be progressive, so that beyond a certain value, they can't get any richer even if their investment give high yields. Starting bracket can be 50M, 100M$, at this scale it doesn't matter much.

You don’t pay taxes on unrealized gains from investment vehicles

That's the problem.

Imagine having to pay a (mostly) perpetually increasing income tax on your 401k every year.

That's why a nuanced, well thought out tax plan is necessary. The average person doesn't have extra money to pay even more taxes. Billionaires do. That's the fundamental difference

I suggest some other things need to happen to him.

What needs to happen is the loans that banks give them against their non-liquid assets should be taxed as income.

But loans aren't income. You have to pay them back.

Pretending a loan is income and in turn taxing it as such, just because the 'wrong thing' was used as collateral, is nonsensically-arbitrary, I think.

P.S. Home equity loans are also 'loans against non-liquid assets'.

You don't pay taxes on unrealized gains

Easy, set the price as $5mil. That’s literally it. The entire basis of a morally just, logical, and predictable way to set prices has been a lie for a very long time.

It is hard if you're lazy and you've conditioned yourself not to shop anywhere else. It's pretty easy if you care about the impact your purchasing habits have on the world. We all know where most people fall on that spectrum.

Unfortunately, there are no folk heroes to save us. The fact of the matter is that we need to vote in all countries, and we need to vote not for “safe” centrists but for those who will actually push us towards more progressive policies. No “but this time is different, like the other twenty times, because of the scary right-wing!”, it’s do or die.

That’s really it. Robin Hood in this day and age is the IRS and whatever equivalents. Fund them, and give them the powers we need without fear.

Have you watched Mr. Robot? It tackles a lot of these questions.

Does anyone else think 3% return isn’t that spectacular?

But that's not the percentage return on investible assets. That's the increase in his net worth in a year.

Think about the typical upper middle class retiree who might have a 401(k) worth $1 million and a paid off house worth $500,000. If they get a 10% return on their portfolio, their house price appreciates by 5%, and they get $10,000 in social security income while their spending rate is $100,000/year, their net worth would go up by $100k + $25k + $10k - $100k for a total of $35k, which is only 2.3% of their total net worth. Even though their investments did pretty well that year.

Bezos is getting more than 3% return. He's just spending a lot of it. Like on a $55 million wedding.