>One man, [Elon Musk](https://www.theguardian.com/technology/elon-musk), worth $805bn, owns more wealth than the bottom 53% of American households.
That's f****** insane! Does he really need more?
1
SminahinApr 1, 2026
+1
He's also an illegal immigrant who's waged systemic attacks on the US government, our elections, and our citizens' privacy.
That right there sounds like an economic stimulus waiting to happen.
1
EatRichGrainsApr 1, 2026
+1
That sounds like a domestic terrorist to me.
1
goldbloodedinthe404Apr 1, 2026
+1
>That sounds like a foreign terrorist to me.
FTFY
1
Wretched_GourdApr 1, 2026
+1
He is a foreign terrorist and should be treated as such
1
toaster_toasterApr 1, 2026
+1
"Does he need more" is not the question to ask. "How much power does that give him" and "Do we want to allow any one person to have that much power in our society" are the questions we need to be asking about billionaires. We don't need to argue over who can afford what or what is or isn't fair or how the money could be spent. We can just all agree that money equals power and in a democracy no one can have that much power.
1
tinyOnionApr 1, 2026
+1
the existence of billionaires and especially multi-billionaires are a sign the system is deeply broken.
1
RombledoreApr 1, 2026
+1
oorrrr, and just hear me out on this.. working **perfectly** well......
^(for the billionaire class that owns our federal government)
1
YasimearApr 1, 2026
+1
A great point, 100% agree.
1
adarkuccioApr 1, 2026
+1
Yep correct, that's why it's getting more and more difficult to get rid of bad actors, because they have more and more power
1
DukeOfGeekApr 1, 2026
+1
It's this. We are beyond the "fair share" part of the equation and are now into the "Billionaires are to dangerous to exist" phase of things. **Make billionaires millionaires again** is our new slogan.
1
sugarlessdeathbearApr 1, 2026
+1
He, like the rest of the super wealthy, is paper rich. We need to tax that paper wealth.
1
Vegetable-Error-2068Apr 1, 2026
+1
It's very possible to transfer stocks from one person to another.
So it's very doable for the next U.S. president actually interested in pursuing justice to seize all his stocks and put them where they belong -- to form a new trust that would give Americans universal healthcare and UBI.
1
lace_lick_lullabyApr 1, 2026
+1
the "need" argument left the building about $800 billion ago. We’re living in a world where one guy’s net worth is a larger number than the GDP of several developed nations combined, while the people working in his factories are checking their bank accounts to see if they can afford eggs. It’s not just about him "needing" more; it’s about a system that allows that much wealth to accumulate at the top while the infrastructure for the bottom 50% is literally crumbling.
1
Disgruntled-CactiApr 1, 2026
+1
Mammon worship. These people have serious problems with their psychology to where the number is never big enough.
1
YF422Apr 1, 2026
+1
At that stage it's no longer about wealth it's about power and being able to corrupt without any oversight to reign him in. That's why billionaires are the Real Life equivilent of MMO Dupers and should be taxed out of existence and significantly limited in how much wealth they can own after a certain point. Individuals with wealth that rival nation states are inherently going to become corrupt and subversive and besides a small amount of people owning huge amounts of wealth compared to the rest of society is destabilising in the long run. Only have to look at how the current little shits running the US are able to get away with shit that would have had Treason Season declared on their hides as little as 20 years ago.
1
wilhelmwagnerApr 1, 2026
+1
In 2021, he paid a record-breaking $11 billion in taxes after exercising stock options. However, because his wealth is tied to assets rather than a traditional salary, he often utilizes legal credits and deductions to minimize his annual tax liability.
1
imreallyjazzedApr 1, 2026
+1
Well, he's an addict
1
mrpicklebyApr 1, 2026
+1
I think the question is do we really need him?
1
pacman2081Apr 1, 2026
+1
Do you think he has $800 billion in cash?
1
Chemical-Fault-7331Apr 1, 2026
+1
Blame dumbass Americans for buying his cars, for using twitter, and we can blame Biden for not having the us government completely divest from SpaceX
1
frieddumplingsApr 1, 2026
+1
Buy his cars all you want. But stop propping up his shares, thats where his wealth is. And those shares are insanely overvalued. He's not selling enough cars to warrant that kind of valuation.
1
1cl3nstd4ytApr 1, 2026
+1
Of course not. But every election, the leftist contingent of the Democratic Party decides the real enemy is their own party, and spends the entire election season attacking their own team.
1
Prudent-Flamingo1679Apr 1, 2026
+1
What are you talking about? Moderates always side with the right whenever leftists push for anything progressives.
1
TheGringoDingoApr 1, 2026
+1
They’re not remarking on that, but the tendency of those on the left being too nit-picky to vote for a viable candidate whose campaign fits their interests more that the other viable candidate. See: Kamala Harris 2024 and (Israel, economy, healthcare, immigration/border, foreign conflicts, etc.).
If those folks would take the harder route of electing the person more on their side and slowly adding more of their policies in, it’d go a lot better than throwing an electoral hissy fit when it’s literally a race between a middle of the road person and the worst possible candidate.
For all those about to double-down on their idea of making things better by losing elections: I’m not going to argue with your sticking points if you didn’t even decide to vote.
1
SminahinApr 1, 2026
+1
>tendency of those on the left being too nit-picky to vote for a viable candidate whose campaign fits their interests more that the other viable candidate. See: Kamala Harris 2024 and (Israel, economy, healthcare, immigration/border, foreign conflicts, etc.).
This is a false analysis, though? People keep forcing this misread where it's some choice or nit-pickiness steering them away from awful candidates. That's completely out of sync with known voter behavior.
Turnout is a product of enthusiasm. Hyper-engaged types like us always function at high enthusiasm and many of us will crawl over broken glass to vote, even for a candidate we hate. I think Hillary is an evil PoS who should be hell's problem and not mine, but I voted for her and kept my mouth shut about how much I hated her as soon as those primaries ended. Good soldier routine.
But for lower engagement types, they need enthusiasm to drag themselves to the polls when they have a hangover. To stand in line without water for hours. To go to the DMV however many times it takes to get around their state's voter suppression. For every bit of enthusiasm you lose, you shave your electorate down. Whereas a high-enthusiasm campaign (e.g. Obama '08, Mamdani) drives turnout and gets people who normally aren't political to function as high-engagement types.
The left keeps screaming that the Dem establishment is running candidates that poison enthusiasm, which is going to negatively impact turnout. And they're 100% right. That happened exactly with Harris over Gaza, for example. I think Harris is going to burn in hell for the "nothing different" answer she gave, but someone like me is still going to vote for her. Assuming that level of loyalty out of the wider electorate is so f****** stupid that I don't know how these consultants/strategists manage to dress themselves.
1
TheGringoDingoApr 1, 2026
+1
Not disagreeing that excitement drives the turnout, from both sides, and your voting record tied to excitement for the candidate appears similar to mine.
The dissenting voices (whether legitimate or part of an opposition campaign) weren’t so thrilled with the Biden, then Harris, campaigns. Clinton failed to bring the biggest Bernie fans aboard through the general.
Biden managed to bring out the vote, we just needed to have nearly a year of the world possibly ending and near universal access to mail-in ballots to get there.
There’s blame to be assigned many places, but that’s only useful if it’s focused on a solution. The democratic voters haven’t had a legitimate (free, no hand on the scale) free choice in primaries since Obama 2008, so maybe we start there and see how it plays out (take note DNC).
Democrats need to have noticeable gains in the next two elections or things are toast for decades. If that means voting for imperfection, the DNC needs to figure out how to get the voters to vote; each failed election means the following election is more challenging to win.
1
SminahinApr 1, 2026
+1
>The democratic voters haven’t had a legitimate (free, no hand on the scale) free choice in primaries since Obama 2008
Alas, 2008 wasn't free either. I was '08 Obama campaign staff and the party worked real hard for Hillary. Heck, I remember the local party where I was at giving Hillary's campaign access to volunteer lists and denying us access. And after we kicked the party establishment's asses, they took their sweet time walk of shaming that info over.
It's just Obama was strong enough to break the party over his knee despite the interference.
I'd say it's been 22 years since our last party-neutral primary. There are voting-age adults who have never experienced one. Nobody under the age of 40 has experienced one in their adult lives.
1
1cl3nstd4ytApr 1, 2026
+1
> the DNC needs to figure out how to get the voters to vote
Why do they need to do that?
If the other poster thinks Harris was flying co-pilot so she could drop bombs on the heads of Palestinians, what could be worse than that?
1
1cl3nstd4ytApr 1, 2026
+1
> but I voted for her and kept my mouth shut
Somehow I doubt that. You run around calling Dems 'murderers'.
1
FlowofOdApr 1, 2026
+1
I mean…
1
1cl3nstd4ytApr 1, 2026
+1
What rubbish. The 'right' is MAGA.
Democrats are opposed to MAGA.
Why make shit up? Thanks for proving my point.
1
SminahinApr 1, 2026
+1
>Democrats are opposed to MAGA.
Other than when our literal party leader, Chuck Schumer, openly favors the Trump-endorsed candidate in his own city over the official Dem candidate. For one of the most powerful positions in the country.
1
1cl3nstd4ytApr 1, 2026
+1
You prefer MAGA.
I prefer Dems.
You will not convince me to vote (R). Stop trying
1
SminahinApr 1, 2026
+1
Not sure if sleeper agent MAGA or MAGA troll...
1
1cl3nstd4ytApr 1, 2026
+1
I keep telling you, I vote (D) and you should too.
1
SminahinApr 1, 2026
+1
I don't just vote D, I doorknock and donate D. Sometimes I even campaign staff D.
I just think it's the obligation of every D to help our party win. And glossing over our awful, awful problems is helping our party lose.
1
FlowofOdApr 1, 2026
+1
This is the political analysis equivalent to a child seeing the rain and saying its angels crying
1
1cl3nstd4ytApr 1, 2026
+1
Makes no sense lol
1
DrekkfulApr 1, 2026
+1
Yeah f*** people for demanding better than "aT leaSt itS noT tRumP"
Whenever the democratic party is within inches of passing something good for everyday Americans, it's immediately sidelined by a handful of politicians bribed by the billionaires to put a stop to it. They have a couple of retirees or centrists either abstain or vote against party lines to stop anything that doesn't benefit the billionaire Epstein class.
Criticize the f****** party that enables it.
1
1cl3nstd4ytApr 1, 2026
+1
You may like MAGA, but rational people do not.
1
Sands43Apr 1, 2026
+1
You have that backwards. It's the corporate-centrist Dems that are the problem.
1
1cl3nstd4ytApr 1, 2026
+1
That's horseshit, and everyone knows it.
You might be fine with MAGA, but rational people are not.
1
TimothyMimeslayerApr 1, 2026
+1
I hate numbers like that because they are a lie. If you were to try and turn that amount into money, he would be lucky to get half in cash. Likely much less because it would mean Musk has lost confidence in his own businesses and the stock price would crater.
1
SminahinApr 1, 2026
+1
Well isn't that kinda the point? The way we approach wealth and value is all a lie based on asset manipulation and "confidence". And our financial system is increasingly wired every year to reward that sort of "wealth" generation instead of actual wage earning.
1
welshwelshApr 1, 2026
+1
It's not necessarily a lie, it's just that most of that $800bn represents the market's trust in Elon as a person and the value he is expected to generate over the rest of his life.
It doesn't mean Elon has $800bn cash which can be taxed to build $800bn worth of public housing. If Elon was forced to sell his assets, they would be worth much less because he wouldn't control them anymore.
1
SminahinApr 1, 2026
+1
>it's just that most of that $800bn represents the market's trust in Elon as a person
Tbf, I'm fully comfortable calling this a lie at this point. Our stock market is far more based in confidence than reality, leading to massively inflated estimates of value. And in the social media + shareholder meetings > customer service era, the way these people build wealth is fundamentally rooted in lying.
1
ChuckJAApr 1, 2026
+1
It’s a misleading statistic. The bottom c% have a net worth of zero. So, many people here are richer than that cumulative group.
It’s outrage bait. Elon Musk has paid more taxes than any three us citizens in history, combined.
1
Gambit717Apr 1, 2026
+1
Must be hard to type while gargling elons balls in your mouth. What is the percentage of his tax rate? Why do lower income brackets pay a higher percentage of tax than billionaires who can afford a higher tax percentage but fight tooth and nail to not pay their share.
1
projecto15Apr 1, 2026
+1
>The bottom c% have a net worth of zero.
Great! But what does c% equal to? Assuming it's sizeable, why do so many people have zero assets? Isn't that a policy concern in itself?
1
ChuckJAApr 1, 2026
+1
Access to debt. It is a *good thing* that Americans can use financing for their education, homes, vehicles.
1
SminahinApr 1, 2026
+1
>It’s a misleading statistic. The bottom c% have a net worth of zero.
How is that misleading? Isn't that the point?
1
ChuckJAApr 1, 2026
+1
The point is that a debt-free homeless person with a single dollar in his hand is technically richer than a substantial percentage of the US population. But we recognize that this comparison has no value because most of those with negative net worth are in the process of higher education, business startup, or home ownership.
It implies that a massive amount of the US populace is in squalor, when they are just young and doing middle class things.
1
SminahinApr 1, 2026
+1
You are taking a very simple concept and overcomplicating it for a takedown. One man has more wealth by himself than half of America put together. This is not right or sustainable--especially not for someone like Elon Musk, who has made his wealth heavily off asset manipulation, government contracts, and outright corruption.
Keep in mind, we passed French Revolution levels of inequality some years ago. Is that how you *want* this to end?
1
ChuckJAApr 1, 2026
+1
You are missing my point: anyone with a single dollar of net worth has more wealth than a huge percentage of the population put together: because many people are net negative due to debt. A homeless man with a single buck has more net wealth than all those people put together.
It’s a pointless stat in a nation with easy access to credit.
If there is a structural issue being critiqued at all, it’s that Americans have free access to credit. Not that people can start valuable companies.
Elon isn’t worth more than x% put together because of some kind of Marxian dystopia. It’s because we encourage people to take on debt to finance middle class lifestyles. The answer is to restrict credit, not tax productive companies out of existence.
1
SminahinApr 1, 2026
+1
I see your point, I just think it's a stupid point, one that builds all kinds of pointless frameworks that only lead us away from a very simple issue.
1
ChuckJAApr 1, 2026
+1
You are trying to point at rich people when the problem is debt.
1
SminahinApr 1, 2026
+1
And how could we possibly have arrived at a system where regular folk are having to take on debt to get by while the ultrarich skate further and further ahead? Hmm, must be a total mystery, can't possibly blame the rich that keep causing & profiting off financial crisis after financial crisis.
Come the f*** on. I'm going to stop replying after this because it feels like a SNL skit at this point.
1
packocardsApr 1, 2026
+1
Do you think it sits in a vault like Scrooge McDuck?
Or are you aware that most of that is just based on the valuation of illiquid companies?
1
SminahinApr 1, 2026
+1
Do you think that makes any difference? I'm really confused why people keep bringing this up as if it makes it better.
1
packocardsApr 1, 2026
+1
1) You can't have a wealth tax if there's no liquid wealth to take.
2) If you tax someone based on the unrealized value of their company, you'll need to hand back taxes to them every time it falls. That sounds ... unworkable.
Have you even thought *any* of this through?
1
ChaoticNeutralDragonApr 1, 2026
+1
You can't have a wealth tax if there's no liquid wealth to take? Tell that to real estate taxes. Don't pay those and you lose the rights to that parcel of land.
"Unrealized value" is a shell game to make things difficult for auditors, not a fundamental law of economics. Everything's value is unrealized until you sell it. The money Joe Public gets from a paycheck doesn't have a strictly defined value until the moment they spend it, but the tax man has no struggle taking a percentage. If the company is taking in money from customers or investors, it's able to go out through the tax door instead of the anonymous bank account door.
For the vast majority of those "unrealized gains", there are thousands of banks willing to take them as collateral for below inflation interest rate loans, and somehow neither taking out that loan nor using the money from that loan counts as "realizing" the gain.
1
thepaddedroomApr 1, 2026
+1
I expect the issue is that if the unrealized value can be used as collateral, then it is in-fact realized. It's a neat trick to be able to borrow against paper wealth without liquidating, but it's a loop-hole that badly needs closing.
1
packocardsApr 1, 2026
+1
What do you do with the wealth that *isn't* currently being borrowed against? Do you force them to take out loans to pay taxes on that unrealized wealth?
1
goldbloodedinthe404Apr 1, 2026
+1
Why do we f****** care?
1
packocardsApr 1, 2026
+1
If you're making a policy case, you have to have the f****** basics ironed out.
1
goldbloodedinthe404Apr 1, 2026
+1
That's what I'm saying is my policy is why is that a problem. Disincentives to take these loans and actually realize the gains is the point because either way they finally pay taxes. So again who f****** cares mission accomplished
1
thepaddedroomApr 1, 2026
+1
I don't know yet. It seems going after the wealth that is being used (collateralized in this case) is the low-hanging fruit and reasonably easily argued as being realized.
It seems to me there's a range of options for the truly unrealized wealth. We currently tax none of it.
If I read the article correctly, Sanders is advocating a 5% tax on wealth above one billion dollars. I might argue that the government sets a sort of baseline of what they think, on average, it takes to survive in our tax code via the standard deduction. Given that the standard deduction for a married couple is a little over $30k (miserly in my opinion), it seems like there's a whole lot of room between $30,000 and $1,000,000,000. If the underlying assets continued to appreciate at more than 5% annually, it seems they'd be relatively unharmed at all.
I think the 5% above a billion tax is a pretty light touch. I've seen folks advocate a cap with everything above a billion taxed or at least at a very high percentage rate.
I'm also partial to the idea of simply removing the step-up basis so that the estate tax actually generates the revenues it ought to. The billionaires get to squat on their hoard like a dragon throughout their lives, but don't get to pass on the capital gains untaxed to their inheritors.
At some point, a critical mass of money with no velocity does nothing for society.
1
packocardsApr 1, 2026
+1
>At some point, a critical mass of money with no velocity does nothing for society.
Again, it does have velocity. The money isn't kept in Scrooge McDuck's vaults. It's typically invested either in the owner's businesses to grow, which leads to higher GDP and more employment, or in markets where it supports the expansion of other businesses.
1
thepaddedroomApr 1, 2026
+1
I'm not certain I agree, but maybe you can help clear it up for me.
If I'm granted a large number of shares in a company as part of my compensation package and the valuation of those shares increases to the point that I have a large unrealized wealth through ownership of those shares: I don't see where the money is in the business helping it grow nor do I see how it's supporting the expansion of other businesses.
It's after lunch and I'm a little sleepy. Maybe I'm just missing it.
1
packocardsApr 1, 2026
+1
I was specifically talking about owners and their cash investments, not employees with compensation packages. But it's telling that before even implementing a billionaires tax, left-wingers are already giving the game away that they'd come for the middle classes next.
Get some sleep.
1
frieddumplingsApr 1, 2026
+1
And who's going to close the loopholes that allows them to not pay their fair share? Those politicians will be bought out before they can draft the legislation. Cheaper to buy out a handful of politicians than pay taxes. They can even pass it off as business expenses, lol.
1
twirlingmypubesApr 1, 2026
+1
People like Tallarico, which is why Republicans are terrified of him
1
projecto15Apr 1, 2026
+1
And Bernie (who wrote this article)
1
_Phil_McCracken_Apr 1, 2026
+1
Washington state just passed a tax on people earning more than $1 million in a year. It's a good start.
1
SminahinApr 1, 2026
+1
His name is Mamdani, Mamdani.
Though Hochul's doing everything she can to guarantee the next French Revolution.
1
manacharApr 1, 2026
+1
Humanity will one day look back on the extreme wealth of our era and think about it the same way we do about feudal lords.
Extreme wealth concentration is a symptom of an inefficient rigged system designed to benefit a few and exploit the many.
1
tedemangApr 1, 2026
+1
Folks, it's been said before, but let's just get it noted again:
>The #1 reason to impose progressive taxation is to slow down the arrogance of the super rich.
Of course these days, we have to talk about moves from HNWI (high net worth), to so-called UHNW, or plutocrats, or crony capital-class, or wanna-be oligarchs and (these days), actual oligarchs.
Would def. like to point out that for a long time -- even since the 1980's -- to raise upper tax brackets back to 50-60% wasn't taken seriously. Meanwhile, everywhere else in the world that 99% of the people prefer to live, that's exactly how they do it (and they learned it from us).
For instance, until 1980, Sweden and the U.S. had equal wealth inequality. Japan was re-build a Constitution specifying it us its $$ for healthcare and education. Finland has the best public school system (and happiest people again), only because they learned it from us -- in 1965. ...We can co on, or you can even watch the documentary movie on this from Michael Moore called ***"***[***Where To Invade Next***](https://wheretoinvadenext.com/)***"***
1
OpeningOccasion9663Apr 1, 2026
+1
Totally agreed. I wonder how much the world would improve if they start paying
1
AL4457Apr 1, 2026
+1
That includes Jane Fonda.
1
ProgrammerOk1400Apr 1, 2026
+1
Or the country will bankrupt itself. No other avenue really
1
TimothyMimeslayerApr 1, 2026
+1
Even with this we are on the road to bankruptcy. We need to generate $1.8 trillion a year, even if this article is right, it would generate $440 billion a year.
1
IUVertApr 1, 2026
+1
Great place to start!
1
naththegrath10Apr 1, 2026
+1
Tax their wealth, not their income!
1
BillsFan82Apr 1, 2026
+1
That ship sailed. There’s no chance of that happening while the SC is conservative. People were warned about this in 2016 when they refused to vote for Hillary.
1
xmagusxApr 1, 2026
+1
Tax wealth not work.
1
SufficientTalk4335Apr 1, 2026
+1
So we better not try and just accept the world as it is.
1
redisburningApr 1, 2026
+1
"tax wealth not work" is a call to raise taxes on the assets owned overwhelmingly by the wealthy to force the distribution of wealth across society to shift downwards to the working and middle class. it is an expressly pro-progressive taxation slogan. you could try googling.
1
Weaver270Apr 1, 2026
+1
If we do, it will never improve
1
tootappleApr 1, 2026
+1
Yes they do
1
Glad-Process-3268Apr 1, 2026
+1
We live in a country that relies on consumerism and is therefore is anti-American to hoard money instead of spending it.
1
GeneralMacaroon5554Apr 1, 2026
+1
Taxes or torches at this point.
1
Aggressive-Will-4500Apr 1, 2026
+1
Retroactively.
1
brahbocopApr 1, 2026
+1
It always has me laughing when people say you can’t tax unrealized gains or stocks that haven’t been sold ye these people use those assets all the time to get loans and cash in without selling. So which is it?
1
notaredditer13Apr 1, 2026
+1
What makes you think these things are at all related?
1
MugaazApr 1, 2026
+1
Yeah they're take is dumb. There's a lot of stupidity with taxing unrealized gains. Taxing loans secured by unrealized gain assets is rational and coherent though
1
Made_Human_MusicApr 1, 2026
+1
At this point, they should pay more than their share for just a little while to make up for the many years they’ve spent f****** us all over
1
loreleiofthefungiApr 1, 2026
+1
F*** it, we need a maximum wage and wealth tax more than anything right now. Next, we need to radically democratize workplaces
1
smp501Apr 1, 2026
+1
The American people did exactly nothing when the Supreme Court unilaterally decided that bribery is “free speech” and the elected branches cannot restrict it. Had they burned the building to the ground and demanded the removal of all 9 justices, then *maybe* there would have been hope for this generation. But they didn’t. So instead, people will grumble quietly, show up every 2 years to vote for approved candidates who only represent corporations and AIPAC, and the rich will never pay their share.
1
Ill-Assumption-4919Apr 1, 2026
+1
The “rich” didn’t create the laws and loopholes used to shelter their assets, YOUR elected representatives did! The systems broken and in need of reform.
1
funtimes-forallApr 1, 2026
+1
Like everything laws are sold to the highest bidder. The rich pay for their tax laws. The rest of us just vote for the least shitty choice they decide to give us.
1
thewrynoiseApr 1, 2026
+1
F*** that. Let’s start with back taxes and see how they like it.
1
AINonsenseApr 1, 2026
+1
And we need to get the pigs to fly in tighter formation.
1
XpmonkeyApr 1, 2026
+1
Year 40 of saying that bullshit. And it never happening.
1
NearbyatomApr 1, 2026
+1
"But why are you punishing those who work hard?!" -- GOP
1
SwimmingDog351Apr 1, 2026
+1
It would be interesting to know how many people he employs and how much they earn.
1
m_t13Apr 1, 2026
+1
Let’s make this real easy. Start by taxing the churches. Just because you believe in a made up sky god doesn’t mean you get to be untaxed.
Next, tax corporations. Citizens United should lay the groundwork for that.
Next stop, Billionaire’s.
1
Electric-Dance-5547Apr 1, 2026
+1
Wealth tax NOW! No more wealthy immigrants dodging taxes and getting government handouts.
1
NarradisallApr 1, 2026
+1
lol, lmao even. Who is holding them to account on this?
1
Birdman915Apr 1, 2026
+1
How is this even an opinion piece and not just the norm?!?
1
No-Beach-7923Apr 1, 2026
+1
Wouldn’t this be nice. We could be living in a more balanced society
1
BeehtApr 1, 2026
+1
Sure, we can start with a 5% wealth tax and move on from there. The first goal should taxing them out of their billionaire status. There should not be a single billionaire.
1
Sandy_BananasApr 1, 2026
+1
They need to do a lot more than that mate.
1
bob-leblawApr 1, 2026
+1
I’ll be glad when must becomes shall.
1
Annual-Reason2970Apr 1, 2026
+1
not only tax them on future gains but claw back the tax breaks they stole over the last decade plus
1
TimothyMimeslayerApr 1, 2026
+1
We all need to pay more in taxes. Taxing the rich isn't sufficient to make up a $1.8 trillion deficit.
1
Single-Refuse174Apr 1, 2026
+1
Why dont we try taxing them first before we make the decision to tax everyone more the same way we’ve taxed everyone more and haven’t taxed them. Just for a little while to see if it works
1
TimothyMimeslayerApr 1, 2026
+1
You literally cannot tax the wealthy and get $1.8 trillion a year. Not even they have that much. Everyone needs to participate.
1
Xx_sO_eDgY_lol69_xXApr 1, 2026
+1
Who said the national debt had to be paid off in one year? If we got 2 trillion in tax revenue yearly at this point it would become an unspendable surplus. What would ease my fears is for the debt to just go down for once (i understand it's gone down before. Don't be pedantic)
1
TimothyMimeslayerApr 1, 2026
+1
I am not talking about the debt. I am talking about the deficit. At least understand the difference if you are going to have an opinion about this.
1
DaraParsavandApr 1, 2026
+1
I (upper middle class salary) am willing to be taxed more. But I'd also prefer we cut the military budget to pre WWII levels of 1-2% GDP, preferably closer to 1. And I want single payer healthcare for everyone (and will pay a bit more on taxes than I save in my current health insurance costs if we get it.
Basically I support ramping up the marginal income tax rates starting at about $200k family income, maybe a bit lower but not a big bump there. Treat capital gains as income. Top federal rate should be 50%.
I am OK running a deficit too as long as it goes along with actual investments in our infrastructure and education systems which are not in the greatest shape.
1
TimothyMimeslayerApr 1, 2026
+1
Even if we cut all discretionary spending including the military and implemented this tax cut requested in the article, we would still run a deficit.
1
Nwah2112Apr 1, 2026
+1
No. I pay more than enough in taxes. We should vote for politicians who will actually see to that money being spent responsibly instead of fighting forever wars where every party involved are shooting US tax dollars at one another.
1
TimothyMimeslayerApr 1, 2026
+1
And here is the problem, nobody wants to pay more and thus the can gets kicked down the road until insolvency.
1
Nwah2112Apr 1, 2026
+1
…or we could stop funding every side of multinational conflicts?
…or we could stop having simple infrastructure projects go decades and billions over schedule at literally every opportunity?
Most people on listnook are takers and not givers when it comes to taxes I guess but eventually the answer just can’t be continuously pillaging the average American’s finances.
1
TimothyMimeslayerApr 1, 2026
+1
You are talking billions over a ten year period when we are talking $18 trillion.
This is real, middle class needs to skip their Starbucks energy.
1
1cl3nstd4ytApr 1, 2026
+1
What bullshit. Of course it's enough.
1
TimothyMimeslayerApr 1, 2026
+1
Show me the math? Everything i see is you would get about an extra $200 billion a year
1
flyingflailApr 1, 2026
+1
The only people who think they can tax the wealthy into prosperity for the country haven't done the math.
Those who have actually looked know it's simple. Tax everyone more or reduce entitlements, or some combo of both.
Or the current path forward of hoping the economy grows out of it I guess.
1
Sen_riApr 1, 2026
+1
Fixing healthcare would help the most, and slashing the military budget would help some too.
The US somehow spends twice as much per capita while getting worse health outcomes compared to other wealthy countries. The healthcare system is broken.
The US Department of Defense keeps failing independent financial audits. It’s gotta be one of the most wasteful government agencies. They at least need to do something to stop contractors from overcharging them by an arm and a leg.
1
Weaver270Apr 1, 2026
+1
There are some ill gotten gains out there held by numerous shareholders. Most unemployed and underemployed can blame those parasitic shareholders.
1
Xx_sO_eDgY_lol69_xXApr 1, 2026
+1
Billionaires make more than half the country. If you tax them to equal rates as everyone else that automatically means at least 50% more tax revenue in the pool. Don't poison the well.
1
TimothyMimeslayerApr 1, 2026
+1
The CBO disagrees with you.
1
EatRichGrainsApr 1, 2026
+1
Propaganda. Billionaires and their ilk have been poisoning the well since Reagan with trickle down debunked nonsense.
1
TimothyMimeslayerApr 1, 2026
+1
Taxing everyone more isnt trickledown economics.
1
kanstApr 1, 2026
+1
Thats simply not true. The top 10% of Americans made over 5 trillion dollars in the second quarter of 2025. They hold over $100 trillion in wealth [Source](https://www.cnbc.com/2025/10/03/the-wealth-of-the-top-1percent-reaches-a-record-52-trillion.html)
If they were required to play a flat 25% on all income, you can easily close the gap, while they would still be absurdly wealthy.
I, as a random engineer, pay about 25% tax on my gross income every year.
1
TimothyMimeslayerApr 1, 2026
+1
They didnt make money, they were compensated in stocks. If we literally took all the wealth from the rich and somehow managed to sell it all without catering its price, we would solve the debt but still have an $800 billion deficit a year.
1
kanstApr 1, 2026
+1
>They didnt make money, they were compensated in stocks.
There is no reason we can't tax increases in stock values.
>If we literally took all the wealth from the rich and somehow managed to sell it all without catering its price, we would solve the debt but still have an $800 billion deficit a year.
Where are you coming up with these numbers?
1
Creative_Visit122Apr 1, 2026
+1
On Bloomberg they were talking about avoiding high taxes rates, I'm here like JUST PAY YOUR FKING TAXES. we know that's how you made your fortune by weaseling out of paying you're fair share. You shouldn't be allowed to use tax payer infrastructure if you don't pay taxes. Greasballs!
1
commitmeApr 1, 2026
+1
literally will never happen
1
hoffman4Apr 1, 2026
+1
Of course, common sense. It’s time
1
CyberaxIzhApr 1, 2026
+1
I agree. We all need the fair share.
We should start with public transit that only gets around 10% of funding from the user fees. Then we should move to schools. Oh, and don't forget people with houses.
It's unfair to those without houses. Just confiscate everything and divide it according to the fairness.
1
IUVertApr 1, 2026
+1
Look everyone this man doesn’t understand how public services work!
1
CyberaxIzhApr 1, 2026
+1
I do. They unfairly transfer money to people who don't want to pay the true and fair cost of services.
Are you against all people paying their fair share?
1
IUVertApr 1, 2026
+1
Do you drive on roads?
1
obelix_dogmatixApr 1, 2026
+1
If people really want that that, the focus needs to be on closing the loopholes around tax evasion through LLCs, non-profits, and taking loans against the “net worth”. Y’all want these people to start selling 100s of billions in stocks. Ever think the kind of instability that shit will create for your 401k?
Musk’s net worth is self inflated and doesn’t mean shit. Make it impossible for people like him to take loans against this net worth that isn’t really liquid.
1
darkk41Apr 1, 2026
+1
I am about as progressive as it gets but I don't think anyone has ever really proposed a way to do this that is possible/enforceable.
He gets the loans because a business thinks it is a loan they will make money off of. That's their business model, right? Give loan, get loan back with a return.
Someone with Musk's money is as safe of a loan as it gets, it is just free money for the banks and financial institutions. So how do you propose we stop it? I don't think it is even possible.
I think a better starting point is to tax flat income at progressive rates, minimize the advantage of capital gains tax vs income (certainly some incentive must remain because we prefer money is stored in an investment over a bank, but it doesnt need to be a HUGE advantage), and make estate taxes which take a *heavy* chunk of estate for people over some very high total net worth.
Laws that are too difficult to enforce are the exact laws that are easy to circumvent for the ultra rich
1
pacman2081Apr 1, 2026
+1
" it is just free money for the banks and financial institutions"
Are those loans interest-free? Please note that loans that are not paid back are reported as income to the IRS. Loans have to be repaid with post-tax money.
EDIT: I am fine with restrictions on the borrow, carry, and die strategy. Plebs are going to be disappointed with the amount of money that will be obtained
1
Futanari_ParadiseApr 1, 2026
+1
"The rich already paid 40% of all the taxes in this country"
"Yes and they control 91% of the wealth."
Funny how that second sentence never gets uttered.
1
notaredditer13Apr 1, 2026
+1
Our taxes are on income, not wealth so you're comparing apples and oranges.
1
pacman2081Apr 1, 2026
+1
I could be living in a $1 million home. My income could be $60,000. This is true in most of coastal California for a lot of home owners.
1
oncemoorApr 1, 2026
+1
I am more interested in getting the 40% who pay no federal income tax to pay something. It is ridiculous and impossible to maintain a tax system where almost half the people pay nothing.
1
1cl3nstd4ytApr 1, 2026
+1
Can't do that when every election the Bernie Bros spend all their time and energy attacking the Democratic Party
They call Dem supporters "Blue MAGA."
1
ChaseThoseDreamsApr 1, 2026
+1
They voted more for Hillary Clinton, than her voters did for Obama. And frankly, that was 10 years ago little dude. Either let it go or get your facts straight.
1
1cl3nstd4ytApr 1, 2026
+1
Weird irrelevant analogy. Obama won.
1
SminahinApr 1, 2026
+1
>Can't do that when every election the Bernie Bros spend all their time and energy attacking the Democratic Party
>They call Dem supporters "Blue MAGA."
Think you've reversed your direction there a bit--Blue Maga is almost always used to refer to the extremist fringe establishment defenders who act as if every losing strategy was passed down from on high and can't possibly be criticized...even as they willfully make the same mistake for decades straight of elections. The people who can't even admit that Biden was in a bad way leading up to 2024. The people who insist Kamala was a great choice and voters were wrong for not having high-enthusiasm turnout for her. The people willfully misreading the last 100 years of electoral trends who have forced us to all-in on proven nonviable strategies.
1
1cl3nstd4ytApr 1, 2026
+1
Biden or Harris would have been 1000x better than Trump.
Weird you expect people to prefer fascism.
Oh but wait -- you run around calling Dems murderers. You prefer fascism youself.
1
IndescribableRuckusApr 1, 2026
+1
Social Democrats attack the corrupt Dems year round, but it's telling that you only seem to notice during election time.
1
1cl3nstd4ytApr 1, 2026
+1
Ah yes, all the corrupt Dems. You should vote for JD Vance or Rubio.
1
IndescribableRuckusApr 1, 2026
+1
It's not surprising that you don't see them as corrupt since both of your efforts only benefit the Epstein class.
1
1cl3nstd4ytApr 1, 2026
+1
You are not going to convince me to vote Republican.
Nice try.
Fascism has done enough damage in just 5 years of Trump.
You may like him, but rational people don't.
1
IndescribableRuckusApr 1, 2026
+1
Reading comprehension really isn't your thing, huh?
1
1cl3nstd4ytApr 1, 2026
+1
You're advocating for MAGA.
I oppose MAGA.
1
IndescribableRuckusApr 1, 2026
+1
You advocate for the Epstein class. You are STILL a Clinton supporter. In fact, you think she is a progressive.
1
ImOldGregg_77Apr 1, 2026
+1
Well I was in the fence but this changed my mind.
1
Okey_Dokey_TokeyApr 1, 2026
+1
But they won't.
1
root_fifth_octaveApr 1, 2026
+1
Only if we want society to hold together.
1
Business_Boat3201Apr 1, 2026
+1
Everyone needs to pay more taxes!!!
1
1cl3nstd4ytApr 1, 2026
+1
Nonsense. The rich need to pay more.
1
AdlehydeApr 1, 2026
+1
The rich definitely need to pay more, but hell, I'd be willing to pay more as a not rich person if it meant I didn't have to pay for health care, and more importantly, my work didn't pay 10k a year on my behalf for health care and just paid me that much more money instead, which would absolutely offset the necessary tax increase on me to pay for single payer in the first place.
1
SminahinApr 1, 2026
+1
This. I've been at the cusp of medical homelessness for 3 years and I'm pretty sure my entire department is getting laid off start of Q2, which...yup.
I would *love* to pay substantially higher taxes if I actually got my money's worth out of it. Whenever I get polls about how much lower I want my taxes to be, I always break the pollster because there's almost never any option for "I want to pay more taxes".
Obviously, this means the government has to deliver on that value. If my higher taxes go to glassing the Middle East and murdering god knows how many children while I'm looking at homeless shelters, that's a berserk button. Or more benignly, if they go to "high-speed transit" that takes 60+ years to implement despite being ostensibly funded in 2000, then I want heads on a pike.
1
Evening-Ad-6968Apr 1, 2026
+1
Crucify me if you need to but the poor should also be paying their fair share of taxes. It disgusts me that 53%+ of the country contribute no taxes at all and that includes tax subverting million and billionaires.
172 Comments