I wish I could remember and link to what I just read about the BBB. It pointed out that charitable contributions, particularly for the wealthy, are now being copied. Is it really that shocking that Trump wants to deincentivize charitable donations? In other news, churches are now being allowed, as nonprofit entities, to endorse political candidates to the congregations, while Harvard is demonized for promoting wokeness as a nonprofit charitable trust. As someone much smarter and better informed than me said, they don't even care to disguise the hypocrisy. It simply is the new standard.
"The U.S. is a fiercely capitalist society based on the meritocratic idea that everyone has the opportunity to build their own futures—and fortunes. Billionaires typically make their money by starting companies that are engines of innovation, and employ millions of their fellow citizens.
[Note: This is a lie. Read any bio of John D. Rockefeller or the railroad barons or...]
If the U.S. were to enact a hyper-aggressive wealth and asset tax—the only way to truly attack fortunes of this size, since most billionaires have little in the way of ordinary income—it might push many billionaires to leave the country and take their companies with them. [Insert LOL here]
There’s another practical roadblock: The U.S. is led by a billionaire president who has surrounded himself with a posse of billionaires, all of whom are likely to oppose wealth tax proposals. Not to mention that Congress just passed a megabill that protects billionaires’ wealth more than ever before.
The only possible answer if America really did want to get rid of its billionaires, short of nationalizing much of the economy, is massive, confiscatory taxes."
"Massive." "Confiscatory." Those words are accusing, like we're trying to undeservedly pick their pockets. Unlike wage theft, which is prevalent and seldom recovered. They're stealing our wealth and refuse to give a single penny back, but we're made out to be the predators in this scenario. Meaningful taxation of wealth simply isn't going to happen. Ever. Even if we revolted. They can literally afford to continue hoarding their wealth.
This is one of your best!
thanks!
Really appreciated this analysis, esp the part about the rich viewing themselves as victimized. It scans.
Also: Double-check spelling of Pishevar/Prishever.
oh god damn it. (it's pishevar)
I wish I could remember and link to what I just read about the BBB. It pointed out that charitable contributions, particularly for the wealthy, are now being copied. Is it really that shocking that Trump wants to deincentivize charitable donations? In other news, churches are now being allowed, as nonprofit entities, to endorse political candidates to the congregations, while Harvard is demonized for promoting wokeness as a nonprofit charitable trust. As someone much smarter and better informed than me said, they don't even care to disguise the hypocrisy. It simply is the new standard.
Sorry, I meant "capped," not copied. Damn typos.
Dead brilliant connection, especially in light of this article today from Forbes:
https://www.forbes.com/sites/kylemullins/2025/07/08/memo-to-mamdani-how-to-get-rid-of-billionaires/
"The U.S. is a fiercely capitalist society based on the meritocratic idea that everyone has the opportunity to build their own futures—and fortunes. Billionaires typically make their money by starting companies that are engines of innovation, and employ millions of their fellow citizens.
[Note: This is a lie. Read any bio of John D. Rockefeller or the railroad barons or...]
If the U.S. were to enact a hyper-aggressive wealth and asset tax—the only way to truly attack fortunes of this size, since most billionaires have little in the way of ordinary income—it might push many billionaires to leave the country and take their companies with them. [Insert LOL here]
There’s another practical roadblock: The U.S. is led by a billionaire president who has surrounded himself with a posse of billionaires, all of whom are likely to oppose wealth tax proposals. Not to mention that Congress just passed a megabill that protects billionaires’ wealth more than ever before.
The only possible answer if America really did want to get rid of its billionaires, short of nationalizing much of the economy, is massive, confiscatory taxes."
"Massive." "Confiscatory." Those words are accusing, like we're trying to undeservedly pick their pockets. Unlike wage theft, which is prevalent and seldom recovered. They're stealing our wealth and refuse to give a single penny back, but we're made out to be the predators in this scenario. Meaningful taxation of wealth simply isn't going to happen. Ever. Even if we revolted. They can literally afford to continue hoarding their wealth.