Mckenzie Scott is working through donating her share. Same for Melinda Gates, Dustin Moskovitz & Cari Tuna.
Warren Buffet plans to donate the larger part to charity.
Let's keep building the good examples so the alternative (power consolidation across generations) is unthinkable for future generations.
In fact, we should have expanded it to be a "millionaire tax" where everyone who has a home worth more than $1M needs to pay a one time $50k+ tax to the highly efficient state government. I'm sure they can easily figure out how to sell a small fraction of their home to cover it.
If there is one thing that history has proven, I think it's how valuable dry taxation is for everyone in the long term.
The difference between a million dollars and a billion dollars is basically a billion dollars. At this scale, it’s the same comparison between a billion dollars and a homeless person.
These taxes are an abject disaster everywhere they're tried. France tried it and it was extremely bad for them.
The cash raised from the tax is dwarfed by the wealth flight, every time.
Napkin math for just the people who have left already over 5 years show $50 billion in lost tax revenue. Probably far more in indirect losses (jobs, consumption, etc).
i find the "but the founding fathers had slaves" to just be nihilistic nonsense
the united states was a manifestation of enlightenment philosophy that persists to this day (despite attacks on it)
Fine, I’ll bite: Why?
Think we'd all be better off if the whole lobbying caste was dismantled and there were simpler paper trails.
Why not let Bezos, Musk et al spend £1bil/year to sit on the senate?
The capitalist's manifesto
2. There are lots of states/cities in the US that do not cap the appreciation of your house for tax purposes, and I don’t think it destroys millions of families. In fact the California cap is generally seen as a terrible policy because it distorts the housing market
Unless you're a prisoner convicted of a crime. Stating that the founders of the United States owned slaves is not "nihilistic nonsense", it's an important distinction to note that they sought political power for themselves, and no one else. The phrase "all men are created equal" should be interpreted as "all white land-owning men are created equal"
It said "all men are created equal". It took a long time to get to this point in human history and it's worth defending.