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Why a $154B CEO just endorsed stripping most Americans of voting rights

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Re: Why a $154B CEO just endorsed stripping most Americans of voting rights

#151
post #68

I am not against idea of only net tax payers getting single vote. Say if you use government services or receive money such as grant that is counted against your total. If you own part of corporation that gets such support that is counted again. If you or your corporation gets tax deductions or relief those are counted as double. Total everything up and if you are net payer you get to vote. If not no vote for you.

We tried this already in America and have decided that disallowing entire groups of people from voting is bad for democracy. What happens when the federal government passes new tax laws that prevent certain genders, racial groups, etc from having to pay income tax? Are they permanently disenfranchised? This would be a system that I think would rapidly move social progress backwards and concentrate power in the hands…

Well you could have stronger constitutional protections. Say certain changes needing unanimous support from voters in referendum. Would lock in things, but would remove risks.

And USA already disallows voting based on age. And somehow lot of people find it acceptable. Surely voting should be right from birth?

Re: Why a $154B CEO just endorsed stripping most Americans of voting rights

#152

Fascinating to see how many tech people, as soon as they get rich, turn to extreme. Name them all - they mostly all are very active on X, and each new tweet pushes the limits of what was previously deemed unacceptable. I'm rich, so my opinion must be more important, right?

Honestly just my experience, but I've found it ironic that finance bros in my circle have gone the other way i.e. the effective altruism, philosophizing, podcasting route. While tech bros are now turning openly elitist, and in some cases, racist. And before anyone claims it's selection bias from within my left-leaning circle, I was well involved within the Tory circus until recently (a couple of years back).

Some sorta god complex resulting from dealing with machines that has the sole purpose of answering one’s commands, perhaps?

Re: Why a $154B CEO just endorsed stripping most Americans of voting rights

#153

Fascinating to see how many tech people, as soon as they get rich, turn to extreme. Name them all - they mostly all are very active on X, and each new tweet pushes the limits of what was previously deemed unacceptable. I'm rich, so my opinion must be more important, right?

Who is going to say what is and isn't acceptable? You?

Yes. That would the point of democracy, if ours wasn't in shambles.

Re: Why a $154B CEO just endorsed stripping most Americans of voting rights

#154

[flagged]

This statement is borderline sociopathic.

Social programs, buses, and trains enable any of that development at all.

When you cut after school programs and social hangouts, kids get into trouble.

Buses and trains multiply the economic potential of an area.

If all you have are the vague class of "home owners", who do you have in your grocery stores? Who fixes your roof? Certainly not you.

All you'd have is an armed quasi-military of cops protecting your depreciating homes from the mobs of scorned citizens waiting to burn your shit down.

Re: Why a $154B CEO just endorsed stripping most Americans of voting rights

#155

Tax the rich. And by that I mean people who "earn" their wealth through mechanisms that aren't direct income. Heck, give an exception to the tax on the first million of non-income based wealth. But something has to change because their money is their power and they deserve less of it.

Canada already has that exemption on the first CAD 1.25M capital gain, assuming that Shopify qualifies as a Canadian business by staying >50% Canadian for at least 2 years.

But like pretty much everywhere, Canada does not tax unrealized gains. At least they don't have the silly loop-hole that the US does of the step-up in basis on death.

Re: Why a $154B CEO just endorsed stripping most Americans of voting rights

#156
It is interesting to hear how openly some CEOs will just say outright stupid things. Like ok, so you re-do the voting system to give rich people more votes than poor people. Fine. It's done. What's the first order of business amongst the electorate at the next election. Well Elon Musk now has 10 times as many votes as Tobias Lütke, why would Musk not just vote to change the system again, handing more power to himself? And on the basis of what principle would you oppose him?

It's just fundamentally a stupid thing to say, and the fact he says it in public strongly indicates that he's lost contact with anyone who will challenge him on this stuff.

Re: Why a $154B CEO just endorsed stripping most Americans of voting rights

#157

50% of Americans think taxes are too high, the other 50% think taxes need to be higher so they’ll get a larger refund. It’s not a sustainable system. A better solution would be to change tax law so a “payer” can’t receive a larger refund than what they paid. No more credits, only deductions.

The majority of americans think their taxes need to be lower, and the taxes for the rich need to be higher.

Re: Why a $154B CEO just endorsed stripping most Americans of voting rights

#159

> one that would strip voting rights from anyone who pays no income tax It could be an interesting thought experiment to consider the second and third order consequences, even if, from first principles this is a non-starter in a democratic society. First off all, what percent of people do not pay any taxes on income? What portion of them are poor vs. hedge fund managers or other super wealthy people who have structur…

In the U.S., it's about 28% of the populace which pays no taxes (or ends up netting to zero or negative taxation; for example, working families with children are often in a situation where they might owe $2,000 in taxes but also get a credit of $5,000, for a net refund of $3,000.) My 28% figure includes property, sales taxes, etc. but does not include taxes that employers, landlords, and so on pay. This is all very b…

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