Elon Musk’s net worth has exceeded $400 billion, primarily driven by the soaring value of his SpaceX stake, which recently reached a $350 billion valuation in a private sale. This makes him the first person to surpass this wealth milestone and solidifies his position as the world’s richest, though estimates vary slightly between Bloomberg and Forbes. Despite a Delaware judge rejecting a substantial Tesla compensation package for Musk, his wealth continues to climb. His recent significant political spending further underscores his influence and financial power.
Bill Gates recently made a statement that caught many people’s attention. He mentioned that if he designed the tax system, he would be tens of billions poorer. This statement, while seemingly self-aware and reflective, raises some interesting points to consider.
The idea that a billionaire like Bill Gates could be “poorer” by any stretch of the imagination is quite amusing when we put it into perspective. Even if he were to lose tens of billions of dollars due to increased taxes, he would still be immensely wealthier than the average American. This level of wealth accumulation is mind-boggling and highlights the massive wealth gap that exists in society.… Continue reading
The left-wing French coalition’s proposal to introduce a 90% tax on the rich is generating mixed reactions and sparking a heated debate. As someone who believes in progressive taxation and the redistribution of wealth, I can understand the motivation behind such a bold move. However, history has shown that extreme tax measures have often backfired and failed to generate the desired results.
President Hollande’s attempt at a 75% tax a decade ago serves as a cautionary tale, showing that such drastic measures can lead to an exodus of wealthy individuals, businesses, and investors from the country. The idea of implementing a 90% tax on income over €400,000 raises concerns about its effectiveness and practicality.… Continue reading
Tax the Rich is Actually a Popular Bipartisan Stance, Poll Shows
The notion of taxing the rich seems to be a hot topic these days, with a surprising amount of support coming from both sides of the political spectrum. It turns out that progressive policies like higher minimum wage, free college, and taxing billionaires are wildly popular among the general populace, regardless of their political affiliation. Recent polls have shown that a majority of Americans support these progressive measures, with swing-state voters also demonstrating strong backing for taxing the wealthy.
One can’t help but look back at a time when the country thrived under a president who had the courage to tax the rich.… Continue reading
Mega-rich renew the call on global leaders at Davos to “tax our extreme wealth.” It’s a headline that catches your attention, isn’t it? The idea that some of the world’s wealthiest individuals are advocating for higher taxes on their income seems almost paradoxical. After all, if they truly wanted this change, why hasn’t it happened already?
Upon entering the world of Davos, it’s clear that the issue of wealth taxation is multifaceted and complex. On one hand, there are those who genuinely support higher taxes on the ultra-rich. They understand that such a measure wouldn’t significantly affect their own standard of living or their children’s future.… Continue reading
The median is lower than the average because the top earners earn more than a normal distribution.
What’s even more fun is that billionaires and top “earning” millionaires won’t even be on this list because they record $0 income. The average would be even higher with total earnings.
They make their money (or just support their life style) from moving around assets and selling assets which is not taxable income, it’s “capital gains”. And a lot of times shell companies are used to avoid taxable events. It’s all a big “legit” scam.… Continue reading
John Q. Hosedrinker 
Matt Underwood