FTX CEO and Biden donor Sam Bankman-Fried warns Democrats' billionaire tax plan would cause huge 'collateral damage'

[DigitalDrifter]

Wealth taxes fail every time they are tried. The results that Europe has had, should tell any thinking person that this will only chase these people away.

• The Democrats' proposed 'Billionaires' Tax' could cause "collateral damage," FTX boss Sam Bankman-Fried told The New York Times.
• Such as tax would be a blow to innovation, said the crypto exchange co-founder worth $26.5 billion on paper.
• Bankman-Fried donated to Joe Biden's presidential campaign.

The Democrats' proposed plan to impose new taxes on the ultrawealthy is being met with sharp criticism from the billionaires it is targeting, including Sam Bankman-Fried, co-founder of cryptocurrency exchange FTX.

FTX CEO and Biden donor Sam Bankman-Fried warns Democrats' billionaire tax plan would cause huge 'collateral damage'

 

[Moonglow]

Yeah, we should let them live for free because Republicans..

 

[Polishprince]

Yeah, we should let them live for free because Republicans..

Most of your billionaires- from Bezos to Mini Mike are leftard socialists, you know.

The "billionaire tax" would really destroy the Middle Class.

Think, libs.

What would happen to the price of a stock if Bezos had to sell enough shares in order to raise $10 Billion to pay a wealth tax? How would that affect the 401k accounts of thousands of middle class deplorables?

It would affect the Deplorables- the Middle Class- more that it would Bezos.

After all, Bezos would know IN ADVANCE what shares of what stock he was going to liquidate- and be able to estimate in advance what the result of his move on the stock prices would be.

He would be in a position to actually generate wealth as liberal policy forces him to make the move.

 

[pknopp]

"I'm going to be mad if you raise my taxes"

Imagine that.

 

[Bootney Lee Farnsworth]

Wealth taxes fail every time they are tried. The results that Europe has had, should tell any thinking person that this will only chase these people away.

FTX CEO and Biden donor Sam Bankman-Fried warns Democrats' billionaire tax plan would cause huge 'collateral damage'

The way these billionaires have sold us out to the highest bidder and have shown a complete disreguard for individual liberty by supporting the left and global Marxism, I am now FOR confiscating EVERY COCKSUCKING PENNY of their wealth.

How's that?

If we're going to be commies, we are ALL gonna live like commies, including you filthy globalist billionaires. You will get exactly what you asked for.

 

[Meister]

Raising taxes on money that isn't even realized? Sounds like a case for the Supreme Court.

I wonder what happens when an unrealized loss has occurred? ( of course, the libbies will cry foul, "the rich, the rich")

Can anyone imagine the clusterfuck that will ensue?

 

[Meister]

One other thought, when the liberals realize that the billionaires taxes aren't enough to pay for
their wet dream, who will they go after next? I mean we need to consider that they already have
their foot in the door with the unrealized gain tax. It's a lot easier from then on out, don't you think?

 

[pknopp]

One other thought, when the liberals realize that the billionaires taxes aren't enough to pay for
their wet dream, who will they go after next? I mean we need to consider that they already have
their foot in the door with the unrealized gain tax. It's a lot easier from then on out, don't you think?

Kinda like when the Fed's pumped trillions and trillions into the markets and the markets cried it still wasn't enough so what comes next?

I know, negative interest rates.

Interest rates: Trump wants to go negative, but does the Fed? | DW | 29.10.2019

 

[Meister]

Kinda like when the Fed's pumped trillions and trillions into the markets and the markets cried it still wasn't enough so what comes next?

I know, negative interest rates.

Interest rates: Trump wants to go negative, but does the Fed? | DW | 29.10.2019

Is this before or after the billionaires wealth tax? If it's after.....they will go down the ladder.
Path of least resistance.

 

[DigitalDrifter]

Yeah, we should let them live for free because Republicans..

For Free? Huh?

 

[DigitalDrifter]

Even Sweden abandoned its wealth tax​

Even Sweden abandoned its wealth tax | Schiff Sovereign

There are over 21 months to go until the 2020 US presidential election. And every day more and more socialist candidates throw their hat in the ring. They all want to be the one to take down Donald…

www.sovereignman.com

 

[DigitalDrifter]

Why Europe Axed Its Wealth Taxes | National Review

They raised little money and were a beast to administer.

www.nationalreview.com

 

[Meister]

Even Sweden abandoned its wealth tax​

Even Sweden abandoned its wealth tax | Schiff Sovereign

There are over 21 months to go until the 2020 US presidential election. And every day more and more socialist candidates throw their hat in the ring. They all want to be the one to take down Donald…

www.sovereignman.com

The mantra from the left on this is that "We can do it better".
I've heard this from them for 20 years or better and they always fuck it up in the end.

 

[pknopp]

Is this before or after the billionaires wealth tax? If it's after.....they will go down the ladder.
Path of least resistance.

First since there is no billionaire tax it would have to be before.

 

[Bootney Lee Farnsworth]

Kinda like when the Fed's pumped trillions and trillions into the markets and the markets cried it still wasn't enough so what comes next?

I know, negative interest rates.

Interest rates: Trump wants to go negative, but does the Fed? | DW | 29.10.2019

The evils of fiat money is a different issue that can be remedied by repealing the federal reserve act.

 

[Meister]

First since there is no billionaire tax it would have to be before.

And I hope there will be no billionaires tax implemented, it would be a set up down the road.

 

[pknopp]

The evils of fiat money is a different issue that can be remedied by repealing the federal reserve act.

That would be great but it's never going to happen which is why I am fine with it all collapsing.

 

[pknopp]

And I hope there will be no billionaires tax implemented, it would be a set up down the road.

I prefer shutting off the Socialist programs that have made them billionaires.

 

[Meister]

I prefer shutting off the Socialist programs that have made them billionaires.

I'm inclined to agree with you...I think. lol
I'm in favor of a flat tax for all