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@eriktorenberg | |||||
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When ppl get rich in a sustainable way, ppl should celebrate, b/c, among other reasons, some of that $ goes to gov’t, which means more education & healthcare
Without growth, we couldn’t pay for these services. Each public job is in effect “sponsored” by a private job (via taxes)
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Erik Torenberg
@eriktorenberg
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21 h |
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Someone DM’ed me & said defend billionaires in 2 tweets. Took 3. Curious for your critique or own version (obv generalized):
Business ppl (mostly) grow the pie. Gov’t (mostly) splits it (grows some too)
W/o business ppl growing pie, there’s less to split
twitter.com/eriktorenberg/…
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Erik Torenberg
@eriktorenberg
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21 h |
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See recent critique of billionaires for not solving climate crisis.
US Gov't has over 4 trillion dollars (collected via taxes vs created via growth).
What's better use for public $ than solving climate change?
The more ppl become rich, the more money gov't has to do so. pic.twitter.com/5WaTvbKefa
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Erik Torenberg
@eriktorenberg
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21 h |
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One thing I'd add is I'm surprised when pro-government fans don't want people to become billionaires as long as they are creating sustainable value (e.g JK Rowling)...
It means more money for the gov't!
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Erik Torenberg
@eriktorenberg
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21 h |
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Another addition: There are 2 distinct kinds of billionaire complaints:
Those that think the $ would be better off distributed more widely among employees & public directly +those that think the gov't should be collecting the money & dispersing it itself
twitter.com/eriktorenberg/…
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Ryan Lampkin ☄️📱
@ryanlampkin
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3 h |
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I acknowledge that "business people" grow the pie. Is a growth of the pie worth it, though, if 100% of the growth goes to the business people themselves.
That's a different question. Society may not be better off.
This alternative cannot be quantified. Only theorized...
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Ryan Lampkin ☄️📱
@ryanlampkin
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3 h |
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Inequality in the US is increasing, which means that all of the growth--and then--some may be going to the "business people".
(Note the reduction of the middle class)
Society is likely better off the increase in standard of living is a 50/50 split (as opposed to 100/0 split).
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Bonnie In SF
@bonnie_in_sf
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3 h |
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This is the whole debate about Elizabeth Warren’s wealth tax. Billionaires simply don’t pay a proportionate amount of their wealth in tax. They don’t.
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Bonnie In SF
@bonnie_in_sf
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3 h |
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And not to confuse billionaires with their companies, but huge companies like Amazon & FB also don’t pay their fair share in tax. Amazonpays zero in federal income tax. Neither did a whole bunch of other huge companies: itep.org/60-fortune-500…
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☣surferjim☣ I identify as BIP [340-342➞ 🚰 🌱 📃 ]
@surferjimw
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27 min |
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And it shouldn't be- except voluntarily.
Taxes are always theft.
Period.
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