ionel

Early Feb 2025 I'll be watching the forecast for one of them -10f weeks and then heading to northern Illinois. Maybe can pry from them cold hands, seems worth the risk.

We can hope he can as hope can give us what we hope for and can be the way we can become unbound by what has been at least we can hope it will be.

In this example why would this theoretical Musk need income? You are being obtuse aren't you Jan.

There is no income, living off expenses.

That makes no sense. You don't seem to want tax revenue you just want punishment.

There is no personal income for the owner in my example. However million to billions of dollars of income and tax is generated by the business activity.

I thought they had to at least pursue an education but I'm hearing they can take a typing course and still post. Is that right?

Do we know they have a dedicated officer to follow him around, as reported in the past, to record any "incident" or should above be revised to "days without known incident?"

So its more of a jealously thing. Maybe we should enact a jealously tax, if a majority of the people vote to be jealous of someone's wealth then the government can take 25% of their assets, but maybe 25% isn't their fair share so let's make it 50% of their assets. btw: I want 50% of Wkn's best bourbon.

I've always said don't go to Iowa, glad Ben finally agrees.

Why is it a problem, they pay back the loan don't they? Let's take a billionaire like Musk, say he has no car, no house, living out of hotels. Let's say he's got 3 or 4 billion dollar businesses and is living on company expense account. He is paying sales tax etc., his businesses are generating a billion $+ of economic activity on which taxes are being paid. He could take a $million/year salary but isn't. So why does it matter that he doesn't have income and not paying income tax when he's generating all this other economic activity that does result in tax revenue?

Burr

Here's a real world example. Let say ~30 years ago I bought some farm land for $1,500/ac and its now worth $16,500/ac. In this theoretical example I've been paying the property taxes on the increasing assessed value every year along with the increasing income taxes every year. Now I'm faced with taxes on an unrealized $3M gain. How am I going to pay that? Now you could say doesn't apply since not a liquid asset but just like the $100M to $1M to &500k as Wkn indicated once politicians get their claws in a new revenue stream they will just keep expanding. But to the liquid asset point. Let's say Wkn drives down to Kentucky to purchase a full barrel of his favorite bourbon. But let's be real, if he makes the drive he's gonna fill the truck with four barrels, but I digress. As soon as he leaves the distillery for some reason that bourbon just went up in value 50%. Liquid assets, tax law applies to Wkn when is he going to pay the tax? Will he try to consume before filling taxes? Now you might ask how long would it take Wkn to consume a full barrel of bourbon but thats not the point.