The move was made in an all-cash transaction valued at approximately $15 billion, including the assumption of debt.
While all of the above might have had positive impacts on the global community, the old sayings are still true: “With great power comes great responsibility,” and “Absolute power corrupts absolutely.” I never pretend to be an expert on topics outside of REITs, but I do caution everyone regarding oversimplifying this piece of news to “take from the rich (who don’t need the extra money) and give to the poor (who do).” There are quite a few repercussions of that mantra that might affect us in the future. Although no longer CEO of Microsoft, Bill Gates gave a massive amount of funding to the World Health Organization and vaccine companies during the pandemic. Jeff Bezos allowed people to receive anything and everything that they needed during the COVID-19 pandemic via Amazon delivery packages. and global economies as well as foreign relations.Įlon Musk single-handedly saved Ukraine from a communication blackout by providing them access to Starlink satellites. These three individuals have an incredible impact on the U.S. Federal Government? Unfortunately, we all should. To play devil’s advocate – who cares about the competition of the ultra-rich when those taxes will benefit the poor and help sustain the U.S. And quite frankly, I don’t want any one of these individuals to become too powerful.
If someone barely makes billionaire status, taxing 20% on their dollar will remove them from the billionaire list in the future and make it harder for competitors to enter that financial tier.
As much as I respect these individuals’ work ethics, I do not want them to become untouchable. I am all for everyone paying their fair share of taxes, but I am concerned that this tax will weed out any competition Elon Musk, Jeff Bezos, and Bill Gates may have in the future. His new spending plan would trim $1.3 trillion from the deficit over the next decade, according to a fact sheet released from the White House on Saturday.”
“The new tax proposal is part of Biden’s 2023 budget expected to be released on Monday. While glancing at news that broke over the weekend, I saw that President Biden wants to propose a 20% minimum billionaire tax.