| |
| ▲ | hparadiz 2 hours ago | parent [-] | | In California that's only 100 homes. That's what's normal for us. Increased market efficiency should actually be lowering taxes, not increasing them just to make you feel good about yourself. | | |
| ▲ | bjustin 13 minutes ago | parent | next [-] | | Market efficiency as most people in the US mean requires the presence of things like roads in decent condition and regulation of RF spectrum use. Both of those are funded via taxes. Reasonable tax rates and uses of tax revenue are required for most non-trivial-sized markets to function efficiently. | |
| ▲ | ceejayoz 2 hours ago | parent | prev [-] | | It's normal for someone to want 100 homes? | | |
| ▲ | hparadiz 2 hours ago | parent [-] | | Elon spent less than that to fund SpaceX and Tesla which are now bringing in money from abroad and therefore paying a lot more in taxes than whatever you would have collected from that 100 million. Now you can be a commie and seize more or of it to fund your healthcare or whatever but that person that is capable of earning 100 million will simply exit your tax jurisdiction and then you'll be poor. See Europe for the example. | | |
| ▲ | dh2022 an hour ago | parent | next [-] | | Yeah, sure, Elon will leave US if he is taxed. Where will he go? EU - even higher taxes. Russia? China? Elon cannot even cross the street in those countries without Putin’s/Xi Ping’s approval. He already moved to Texas because of taxes - I think this is as good as it gets for him. If US Federal Government taxes his wealth (not something remotely possible) he will still stay in Texas. | | |
| ▲ | hparadiz an hour ago | parent [-] | | You misunderstand. He never would have done it here in the first place. And we would all be poorer for it. Whether he would have been successful elsewhere or not is entirely irrelevant. He could have retired like any one of us normies would have. | | |
| ▲ | ceejayoz an hour ago | parent [-] | | Why did he pick one of the highest tax jurisdictions in the country to do it "in the first place", then? | | |
| ▲ | hparadiz 39 minutes ago | parent [-] | | Taxes in California are quite low. That's why I moved here and purchased property. | | |
| ▲ | ceejayoz 37 minutes ago | parent [-] | | https://taxfoundation.org/data/all/state/state-income-tax-ra... > Top marginal rates span from 2.5 percent in Arizona and North Dakota to 13.3 percent in California. (California also imposes a 1.1 percent payroll tax
on wage income, bringing the all-in top rate to 14.4 percent as of 2024.) Am I missing something? | | |
| ▲ | hparadiz 22 minutes ago | parent [-] | | > Am I missing something? Yes. Literally an entire lifetime of context. | | |
| ▲ | ceejayoz 17 minutes ago | parent [-] | | I'm not sure any amount of context is going to make your assertions that average Americans can put $140k in savings annually, that the Census doesn't account for pre-tax income, that Musk moved to CA for its low taxes etc. make any sense. |
|
|
|
|
|
| |
| ▲ | ceejayoz 2 hours ago | parent | prev [-] | | > Elon spent less than that to fund SpaceX and Tesla... So 100 million is enough to do quite a bit with? > that person that is capable of earning 100 million will simply exit your tax jurisdiction There are plenty of lower tax jurisdictions than Silicon Valley. Is it possible there's more to a jurisdiction than the raw marginal tax percentage it applies to one's paycheck? | | |
| ▲ | hparadiz 2 hours ago | parent [-] | | It's not enough to build a data center these days. Or even run the government for a day these days it seems. Or are you saying salaries need to come down? | | |
| ▲ | ceejayoz 2 hours ago | parent [-] | | The amount it costs to build a datacenter or run the government for a day is an unimaginable level of personal wealth to virtually every person on the planet. | | |
| ▲ | hparadiz 2 hours ago | parent [-] | | My own wealth now would be unimaginable to myself when I lived in the USSR. Maybe don't look at the bottom for what should be. There's never any imagination there. I know better than most. | | |
| ▲ | ceejayoz 2 hours ago | parent [-] | | > Maybe don't look at the bottom for what should be. The people at the top should look at the bottom for what should not be. > My own wealth now would be unimaginable to myself when I lived in the USSR. Good! But apparently $100M isn't enough? | | |
| ▲ | hparadiz an hour ago | parent [-] | | Enough is not for you to define. Or anyone. Please internalize that. It's part of something called freedom. | | |
| ▲ | ceejayoz an hour ago | parent [-] | | > Enough is not for you to define. Or anyone. You might look at history for how the "let them eat cake" approach goes. > It's part of something called freedom. Freedom is more complicated than you make it out to be. https://en.wikipedia.org/wiki/Positive_liberty https://en.wikipedia.org/wiki/Negative_liberty One of the early things toddlers have to learn, in fact, is that their personal freedoms may be in conflict from the very legitimate freedoms of others. | | |
| ▲ | hparadiz an hour ago | parent [-] | | The average person in my area makes like 250-350k between two professionals being a couple. They will have 25 peak earning years where they earn like 240k after taxes but only spend 100k so that extra 140k goes into IRA/401k, and other investments, plus discretionary spend. They have 1 million in those accounts within 10 years and 3 million by the time they are in their 50s. That 40k per year you keep citing at that point is less than 2%. None of these people will vote for higher taxes and they keep winning elections. This isn't France and you're not gonna do shit. | | |
| ▲ | ceejayoz an hour ago | parent [-] | | > The average person in my area makes like 250-350k between two professionals being a couple. Even in SF that's about double reality. https://www.census.gov/quickfacts/fact/table/sanfranciscocit... > They will have 25 peak earning years where they earn like 240k after taxes but only spend 100k so that extra 140k goes into IRA/401k, and other investments, plus discretionary spend. Talking about an extra $140k a year for decades straight to put into savings as if it's the American norm illustrates just how deeply out of touch you are here. https://www.census.gov/library/publications/2025/demo/p60-28... "Median household income was $83,730 in 2024" > This isn't France and you're not gonna do shit. Yeah, Louis XVI thought the same. | | |
| ▲ | hparadiz an hour ago | parent [-] | | You don't understand how incomes and the census data even works. When you set aside 401k and IRA money it doesn't show up as income. It actually lowers your taxable income for that year so instead of seeing 180k earned you might instead have 150k earned. It's what the IRS calls "tax deferred" which means the money is sitting in an account you own and contributes to your net worth but it's pre-income-tax money. That means someone who has 3 million in an IRA will only show "income" on money they take out of the tax deferred account which may only be 50k in a fiscal year. Income basically tells you nothing and it's a dumb statistic to cite. | | |
| ▲ | ceejayoz an hour ago | parent [-] | | Someone doesn't understand it, but it's not me. https://en.wikipedia.org/wiki/Household_income_in_the_United... "A household's income can be calculated in various ways but the US Census as of 2009 measured it in the following manner: the income of every resident of that house that is over the age of 15, including pre-tax wages and salaries, along with any pre-tax personal business, investment, or other recurring sources of income, as well as any kind of governmental entitlement such as unemployment insurance, social security, disability payments or child support payments received." > That means someone who has 3 million in an IRA will only show "income" on money they take out of the tax deferred account which may only be 50k in a fiscal year. We're talking about putting in, not taking out. | | |
| ▲ | hparadiz an hour ago | parent [-] | | No one is revolting over even 80k. It's actually funny you would even suggest it. Good luck. I am not rooting for you. | | |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
