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Cake day: June 25th, 2023

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  • yes, though to be fair, it’s not like this is just sitting in their bank account doing nothing. It’s mostly invested somewhere doing stuff to make them richer. So if they were taxed at a fair rate, idk, 90% or so, that would mean less investment, which in turn does help companies grow and pay salaries, R&D etc. They don’t send a trillion to a scrooge mcduck bunker on the cayman islands, they create shell companies there that own their stock etc. for them. They could not pay this tax since they just wouldn’t have the cash to pay x% of 3.5T. Which would either force them to sell stock to pay tax, potentially tanking the stocks value, or pay the tax directly in stock, making their holdings more government owned over time.

    As a socialist, I’m fine with either tbh. just saying this is not cash floating around that can just be spent to tackle humanities problems, if only it was just taxed properly.