Analysts at SemiAnalysis ahead of the election feared the worst…“[Hinojosa] would impose a moratorium until legislation is passed that gives communities a voice, protects household utility bills, and ends the tax incentives for data centers."
Few sentences more effectively demonstrate the disconnect between billionaire capitalists and the rest of us.
Never forgive, never forget.
futurism.com is full of clickbait garbage
Tomorrow google maps will show Lake Ontario and Gulf of Mexico and they will put black history month back on their calendar.
They went all in on installing technofeudalism and red and blue states are adopting mass surveillance an AI data centers so it kinda seems like they’re still winning
they gambled and lost and now taxpayers pay their gambling bills
economy über alles
We don’t have to, the government can literally take their money if we collectively decide to. Personally, I think “no billionaires” is a pretty good policy. Once someone’s net worth hits $999M, the government takes all their income above that amount, taxes any gifts they receive at 100% of their value, takes all their capital gains, etc.
I think that once you hit $1B, a red laser dot appears on your forehead.
The phone rings: “Decide your fate, or it will be decided for you.”
Or, just impose a percentage based wealth tax like some of the Scandinavian countries. Simple and efficient.
Porque no los dos?
Yeah, it should probably be a progressive rate but with the catch being that the rate never stops increasing!
So maybe we start very small – a 1% tax on wealth over $10 million. And that $10 million is also our magic number below which the wealth tax cannot drag you, which will be important in a second.
Then there are a few tiers above that which don’t need to be fancy. Maybe add 1% to the incremental rate per $100 million.
But then at $1 billion, the incremental rate becomes 100%. So if you end up over the limit you essentially get set back to $1 billion, which is further taxed according to our imaginary progressive rate.
I also wonder if it might be a good idea to provide a strong incentive for the individual to disburse their gains to charitable causes rather than the burden of administration always falling to the government. One interesting thing might be to introduce one or two even higher brackets that go above 100%.
Say that at $2 billion the tax on each additional dollar becomes 150%. That means that if you get lazy or just want to hoard wealth short term, you not only get knocked back down to $1 billion but lower than that.
Honestly though, we don’t need that complexity. 100% wealth tax on anything over a billion and the government does extravagant shit to honor the top payers each year and names buildings after them and whatnot.
We can all decide the government should take their money, and politicians can do exactly what capital wants as always.
They gambled and we all lost
as is tradition. Time to convert to new traditions.
Yeah lost what? 10% of billions of dollars still leaves them with billions of dollars.
Uhhh
Wait for it… I’m sure they’ll realize any second…
Tell that to California, who just decided it didn’t want to tax billionaires by a landslide.
I thought part of the reason was because it’s a one time thing? But the oligarchs were against it, which is a great reason to be for it, imo.
Well we passed one of the alternative bills written by the oligarchs that makes it harder to tax personal properties like owning a corporation.
People still think “the job creators” will leave to other states.
I saw the “trickle down” happening in San Francisco first hand when I got off the Rapid Transit a stop early and emerged in the middle of a cardboard city.
Ya what a fucking joke. I had hope for that one.
Round up the CEOs and introduce them all to a woodchipper.
Why are you suggesting something so kind?
Maybe like, a really dull woodchipper, or one with the blades on backwards or something
This might prove inefficient, but I think it’s worth a few hundred trial attempts, for science
As a treat.
Or make sure to feed them in feet first
Leave no prisoners comrade.
The problem is that they will just shift who they cosy up to and who they bribe with “lobbying”. We all need politicians with the integrity to stand up to that.
They’re gonna need to have much better PRIDE avatar flags next year to win back my confidence.
I know you’re joking but I immediately started thinking that. Is Target going to suddenly have totally legit honest LGBTQ stands again now? I have a feeling we’re going to have whiplash with all of these corps.
They will absolutely flip and pander, and people are going to willfully look the other way, because it’s too difficult not to have a Facebook.
I really don’t understand how so many people are unwilling to be mildly uncomfortable
One of my friends won’t get off Twitter “because that’s where the good memes are”. I’m like ma’am you can live on slightly stale memes.
The memes on lemmy are pretty dank, but I like my cheese a little funky anyway
Damn the peasants.
Target is never getting my money again, unfortunately most people’s memory is as short as a goldfish
Target ain’t doin’ so hot because of people like us boycotting them. There are other factors, but they’re going the way of Sears.
Sears was actively hollowed out by vultures, and before that they were slow to modernize.
That’s rather unfair, actually. I’ve had goldfish and they have much better memories, and better attention spans, than many humans.
Which I find funny because goldfish actually have pretty good memory.
So much of what is wrong with the world in general these days seems to come down to how fucking brainless and easily manipulated people are. Advertising essentially becomes mind control and that’s why the whole economy seems to revolve around who can shove the most ads into people’s faces.
Target will pay for the Facebook ads, and mindless morons will start wandering right back in again, buying the next stupid fucking Stanley Cup or labubu or beanie babies or cabbage patch doll or monchichi…
Fully agree, the last time I went was once this year, and I paid with a gift card I got from before their bending the knee, so it only took assets away from them. Other than that, I will not shop there.
I put my pronouns back on slack today
If only there was some way they could have known.
They were going to lose anyway. Everyone seems to memoryhole that the Biden administration was on the verge of forcing Google to sell of chrome. They were probably going to enforce more antitrust on big tech.
But of course people memoryholed it. They control what you see and think.
It’s no surprise they comply with Trump’s arbitrary whims. The tech industry didn’t gamble. Trump was their only choice.
We remember. That didn’t happen, though. Tangerine Palpatine shielded them.
They could have chosen to spin off parts of their companies to avoid a forced breakup. They could have chosen to fight back against disinformation during the 2024 election. And they could have chosen to say no to Trump and his mad king decrees. But, they chose to side with the fascists, and that’s now the only decision that matters.
The very first thought in my mind when I woke to Trump 2.0, “There goes Lina Khan, our last best hope.”
She was set to tear these anti-capitalist monopolies down and get democracy back overseeing the economic system. At least Mamdani snatched her up and she’s kicking ass for NYC!
When do we get to eat them?
GET IN MAH BELLY
FUCKING VORE THE RICH
They might be into that.
ģ̭͎̘͋͒̐̒r̲̦e̶̥̳͌̋n̸̘̳͔͒ͥ̂͊d̶̩͎̉ĕ̬̲̭̑͆̋l̫̘͛̂͒ͥ͌ pͬ̿̑͗ͯr̨͙̦̣̗ͭ͑i͔̱͌ͫm̸̄͑e̗ͤͥ̑͛ i͕̳̟͔n̑ͤͫt̶̩̲̹̟̘ͯͮ̽e̵̲̮͒ͨ͂͑͆n͖̼̯͖̆ͪͩ̒s̸̜͎̼̅͌ĭ̴̪̮͇̝̐̐̂͐f̶ͥ͊ͯ͆ͭi̺̲ͥͅe̵̥̗͑ş̙̤͆̿̐
That looks like the Rocketeer.
Now. Now is when you get to eat them.
For an industry obsessed with risk models, betting everything on Trump’s popularity was quite a choice. Especially while telling ordinary people to accept higher power bills and endless data centers. Turns out the electorate wasn’t as easy to disrupt as the CEOs hoped.
I think what happened was a FOMO moment in which Elon’s contributions worked really, really well in 2024 so everyone else just jumped on that bandwagon.
The rich believe that the endgame is near so they are very ready to take as much power as they can.
They’re venture capitalists they’re obsessed with risk in the sense they believe big risk = big reward and are vain enough to believe they can force several hundred million people to vote against their best interests with some poorly done smoke and mirrors. They forgot most VC ventures are failures because they’re too far up their own asses to see reality anymore
I’ve worked in tech a long time and never have I seen an actual risk model used.
I have had CEOs tell me they don’t like my analysis and there’s gold in them thar bad decision hills, and they don’t care what my numbers say.
I get some schadenfreude watching the disaster unfold, but it usually ends in decent people getting fucked over by management.
I mean from history we can learn that those with lots of power aren’t more intelligent than most. They get greedy etc
And disconnected from reality
There’s a psychological term for how when we humans acquire fortune and power, we no longer think the rules apply to us. I have a twinge of that just from being a middle-aged white guy. Though poor ATM, there are rules I slide on because privilege. Now imagine being worth billions.
Anyone know the term?
This is the truth. I’m married to a software engineer, and let me tell you, some of his holiday parties were eye-opening for a lowly arts administrator like me. They’re all totally out of touch with how normal people live. Especially if both income earners in a household work in tech.
The opening of Silicon Valley hits so fucking hard.
I don’t know how Mike Judge is consistently so right.
