He doesnt make that in actual money tho. Rich people’s value are vibes based egregors summoned through the stock market. So, in a similar vein, if the stock market crashes and never recovers, he loses most of his money. This is why I propose ripping down Wallstreet to starve the machine.
He’d still have a lot of property to his name, a lot of other assets and stuff that aren’t tied to an arbitrary stock market. Even if you crash it, mansions and luxury cars would still be very valuable. He will never not be a billionaire due to that.
That is, unless you redistribute his wealth. Then yeah, he wouldn’t be filthy rich anymore.
Very true, but you have to be able to sell those assets to gain from them. If the stock market is erased you can’t sell your yacht to another exploiter because their networth is decimated too and they can no longer borrow off anything but physical assets, and now they also have a massive “income” stream that is now down so borrowing is more risky. We coulda had a bad bitch of a society, instead we let the rich turn us all into Mammon zombies.
well it’s worse than that becase most of those houses and other assets were bought for the most part from loans taken out at very low interest rates against the stock he has in his company’s and other shares in his portfolio . The stocks on whole give better return than that interest rate. So it’s free money they can spend an they don’t even have to sell their stock and pay taxes on the returns just the dividends at a way lower rate that any working person. the way this is setup it becomes impossible for him to spend money fast enough for him to actually lose more money than he gained.
Love both of these, but going after the stock market is how you kick billionaires in the balls. Then you redistribute their assets to serve society instead of society serving their assets.
If you can borrow against that at any time you want (read: 90% of billionaires), then you have that money effectively liquidand untaxed.
Then they will take out a bigger loan to pay off the existing loan and as such, pay almost nothing in taxes, the stocks that they borrow against grow faster than the interest on their loans, and they can repeat this process until they die where their debt just gets eaten by taxpayers because they transfer assets at the right time to children and then their estate will pay back the debt after death (just transfer stock ownership to lenders probably)
Even if the stock market crashes during this time, they can declare bankruptcy, free themselves of their debt, and then sell assets and they already have a huge golden elevator ready to bring them back up.
He doesnt make that in actual money tho. Rich people’s value are vibes based egregors summoned through the stock market. So, in a similar vein, if the stock market crashes and never recovers, he loses most of his money. This is why I propose ripping down Wallstreet to starve the machine.
He’d still have a lot of property to his name, a lot of other assets and stuff that aren’t tied to an arbitrary stock market. Even if you crash it, mansions and luxury cars would still be very valuable. He will never not be a billionaire due to that.
That is, unless you redistribute his wealth. Then yeah, he wouldn’t be filthy rich anymore.
Very true, but you have to be able to sell those assets to gain from them. If the stock market is erased you can’t sell your yacht to another exploiter because their networth is decimated too and they can no longer borrow off anything but physical assets, and now they also have a massive “income” stream that is now down so borrowing is more risky. We coulda had a bad bitch of a society, instead we let the rich turn us all into Mammon zombies.
well it’s worse than that becase most of those houses and other assets were bought for the most part from loans taken out at very low interest rates against the stock he has in his company’s and other shares in his portfolio . The stocks on whole give better return than that interest rate. So it’s free money they can spend an they don’t even have to sell their stock and pay taxes on the returns just the dividends at a way lower rate that any working person. the way this is setup it becomes impossible for him to spend money fast enough for him to actually lose more money than he gained.
The Paper Billionaire Argument
Wealth shown to scale
Love both of these, but going after the stock market is how you kick billionaires in the balls. Then you redistribute their assets to serve society instead of society serving their assets.
If you can borrow against that at any time you want (read: 90% of billionaires), then you have that money effectively liquid and untaxed.
Then they will take out a bigger loan to pay off the existing loan and as such, pay almost nothing in taxes, the stocks that they borrow against grow faster than the interest on their loans, and they can repeat this process until they die where their debt just gets eaten by taxpayers because they transfer assets at the right time to children and then their estate will pay back the debt after death (just transfer stock ownership to lenders probably)
Even if the stock market crashes during this time, they can declare bankruptcy, free themselves of their debt, and then sell assets and they already have a huge golden elevator ready to bring them back up.
You do not talk about project mayhem