This trend really says a lot about America, billionaires build their own empires by getting free money from investors and the government, including huge tax breaks and subsidies. When the people ask for some of that wealth that they helped build to support universal needs, they pack up and leave without blinking. Who really has the leverage and power here?
As the richest country on the planet, there is zero reason we should have nearly a million homeless people. These leaders extract wealth from the state and then ditch town. It’s deplorable.
pfdietz•3w ago
> free money from investors
I'm completely confident that's not the way it works. One way or another, the investors are expecting a return, and have arranged things appropriately.
cjbenedikt•3w ago
That's correct. But the point about free government money i.e. tax dollars is correct too.
johng•3w ago
How much tax revenue and job revenue which translates to sales revenue, employment taxes, donations, etc has Google generated for California over the years? Is it a business they couldn’t have started somewhere else? Should the beholden to the state in perpetuity?
SlightlyLeftPad•3w ago
To be clear, Billionaires often pay zero income taxes. Not 1%, not 5, not 10. They pay $0 in income taxes. Many in the shrinking middle class pay almost half their income in tax.
Can you then guess who gets more representation and voice in the government?
johng•3w ago
Yes, I would love to fix that loophole. I'd love to fix all the loopholes.
tim-tday•1w ago
That’s not a loophole. That’s the entire system being built to by the wealthy and powerful to protect wealth and power.
Don’t get me wrong, i reflexively protect my wealth and power too. But it’s an unfair system and we have to acknowledge that before we can start to fix it.
blowsand•3w ago
When I read comments like yours I always wonder why the commenter isn’t wildly successful at creating wealth for themselves and jobs for many. Why haven’t you? Why haven’t you built a big business and started giving money away beyond what the tax and regulatory laws call for?
SlightlyLeftPad•3w ago
I mean being the second and tenth richest men alive sets an awfully high bar. Let’s be real, if either of us were even remotely close to that, neither of us would be commenting here.
gizmondo•3w ago
How much tax breaks and subsidies did Brin and Page get? I'd think it's close to zero. And apparently they are asked to give half of their wealth (https://x.com/garrytan/status/2009776299666223265) in a "one time" tax (of course we both know people like you won't be satisfied with it being one time, because look, still homeless people). I'd also leave without blinking, this level of expropriation is absurd.
SlightlyLeftPad•3w ago
Firstly, Define “People like you.”
Secondly, the proposed law while perhaps still poorly designed, is based on net worth not on voting shares. You refer to an X post claiming they would owe $60 billion dollars, which is preposterous. Can you link that to the actual proposed law?
SlightlyLeftPad•3w ago
As the richest country on the planet, there is zero reason we should have nearly a million homeless people. These leaders extract wealth from the state and then ditch town. It’s deplorable.
pfdietz•3w ago
I'm completely confident that's not the way it works. One way or another, the investors are expecting a return, and have arranged things appropriately.
cjbenedikt•3w ago
johng•3w ago
SlightlyLeftPad•3w ago
Can you then guess who gets more representation and voice in the government?
johng•3w ago
tim-tday•1w ago
Don’t get me wrong, i reflexively protect my wealth and power too. But it’s an unfair system and we have to acknowledge that before we can start to fix it.
blowsand•3w ago
SlightlyLeftPad•3w ago
gizmondo•3w ago
SlightlyLeftPad•3w ago
Secondly, the proposed law while perhaps still poorly designed, is based on net worth not on voting shares. You refer to an X post claiming they would owe $60 billion dollars, which is preposterous. Can you link that to the actual proposed law?