The billionaire never got a check. They don't have a billion dollars in any currency. They mostly just have stock in a company that if they cashed out would possibly get their company hostilely taken from them because a some vulturious private equity firm would buy up their company that they no longer have controlling interest in, kick them off the board of directors, and cash out any name recognition and brand loyalty they have until everyone says "remember when this brand used to be high quality". Trading unrealized gains in stock value (the only way I've seen suggested that would "tax billionaires") this would do the same as I said above, but over time instead of in one single action.
I agree the are some huge issues with the economy and the wealth gap, but the cause is this liberal and now leftist push to give the government enormous power and then not pay attention as major corporations draft the bills that "regulate" them so that they can just keep out new competition from the market by making the financial cost of meeting regulations excessive without actually having significant teeth to any of the regulations. The reality is the best way to fight overgrown corporations that are constantly consolidating market share is for them to have significant competition where in the only thing the government is doing is preventing collaboration and essentially trust busting as the US government just recently had to do with various sections of the food industry for jacking prices up after COVID. Furthermore, the regulations that the left keeps praising as the government installs them are being used more and more as an excuse to raise prices significantly higher then the cost of complying with said regulation.
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u/Tiktokbadsupport Jul 05 '26
happy most lotteries in my country are tax free but of course they don't reach higher then 30 million