• 4 Posts
  • 97 Comments
Joined 3 years ago
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Cake day: July 28th, 2023

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  • The tl;dr is:

    1. That dementia riddled shithead Reagan changed the law to allow companies to buy back stock. This is classic stock manipulation and was illegal before that piece of shit was elected by the same degenerate demographics that are fucking up shit today.
    2. Billionaires will “borrow” say, $100 million dollars, using their stock as collateral. Now they only have to pay the interest, low single digits, instead of actual income tax.

    And a key quote from the article:

    As a result, loopholes abound that allow the wealthy to shelter their money from taxation. These mechanisms are so effective that even though the wealthiest 1% of Americans own $50 trillion, the entire amount collected by the estate tax in 2024 was about $30 billion, an amount that Musk has gained and lost in a day.











  • I’m not sure what the fix is, aside from a foundational change in society, UBI, etc… When I was growing up, the paper was a couple bucks a month. Really cheap and there weren’t all the online alternatives. Reporting was pretty solid. Then the internet came along embracing the capitalist race to the bottom. My mom (80+ years old) still gets a Sunday paper, instead of daily, but I know that she is one of the only people on her block who even get that. And to be honest, the newspaper coverage is pretty shitty.

    There has to be a way to pay reporters to do in depth reporting, taking weeks or months to do all the digging and research, but that takes a financial backing that billionaires could do, but aren’t interested in doing. And it seems more and more people don’t put their shrinking disposable income in support.

    I’m in no way saying you’re wrong, I just don’t see a solution. We now just jump from outrage to outrage, informed by idiot tiktokers and uneducated ideologues. But it’s free and flashy…squirrel!