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fair share? (discuss.tchncs.de)
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[-] Chriskmee@lemm.ee 9 points 9 months ago

Most of their billions is ownership in companies they grew into what they are today. It's not like they have billions to spend, it's that their ownership is worth billions according to the market.

[-] MattsAlt@hexbear.net 42 points 9 months ago

They could go to any bank and leverage that asset for a loan for more than everyone who posts on this platform will make in their lifetimes no problem. That is a nonsense talking point

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[-] TurnItOff_OnAgain@lemmy.world 33 points 9 months ago

True, but that ownership gives them access to very low interest loans that they then use as spending money and don't have to pay taxes on it

https://www.businessinsider.com/american-billionaires-tax-avoidance-income-wealth-borrow-money-propublica-2021-6

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[-] Ram_The_Manparts@hexbear.net 20 points 9 months ago* (last edited 9 months ago)

While that may be technically true, is running defense for these people who would happily see you and everone you care about die if it would make them another buck really something you want to be doing?

[-] usernamesaredifficul@hexbear.net 28 points 9 months ago

also assets count as wealth if you tried to explain to king Solomon that he wasn't actually rich because his money was tied up in land and cattle he would call you and idiot and explain that land and cattle are his wealth

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[-] usernamesaredifficul@hexbear.net 11 points 9 months ago

yes this is true but they have so much money available to spend that it makes amounts practically meaningless

this post was submitted on 30 Sep 2023
2105 points (96.6% liked)

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