https://twitter.com/ChuckGrassley/status/529356795924725760
He should take his own advice
No billionaire will ever invest a significant fraction of their income into anything, not when they have access to near infinate amounts of capital from the banks of the world.
there has to be a line places somewhere on how much money is too much to expect economic returns from.
I'm glad AOC has pissed off all these rich pricks because people are finally seeing what the billionaires and their paid for politicians think about their place in society, which is to say they think they deserve everything they have.
"booze, women and movies" is a funny way of spelling "rent, groceries and bills".
He just called anyone that's not a billionaire a drunk.
Wild guess he spends more on all three of those things than any ordinary person is even able to
"Not having the estate tax recognizes the people that are investing, as
opposed to those that are just spending every darn penny they have,
whether it’s on booze or women or movies.”
Wellp, you've heard it here, folks. You work only to survive long enough to keep working, no fun allowed.
"Let them eat cake spend their darn money on women, and booze, and the moving pictures!"
this dudes like a cenutry old and still thinks movies are still the hip new thing to spend money on lmao
Jeff Bezos is the world's richest person, and the overwhelming majority of his net worth is from investment in Amazon. Every billionaire derives most of their net worth from investment.
All the arguments you could make for why inheritance tax is a good thing, or why the quote in the OP is completely wrong, and you chose one that is easily verified as nonsense?
We give the French so much shit, but at least they know how to excise rotten political tissue.
Sableye means they won't invest noteworthy amounts of wealth to benefit the public interest.
Bill Gates says hi?
The simple fact is that Senator Grassley is completely wrong because estate tax is specifically set up to allow investment and ownership of real assets to be inherited at significantly lower estate tax rates than money stuffed into a mattress. It's already trivial for the super-rich to avoid the state taking their wealth; that's part of why the tax code needs to be addressed. The idea that estate tax represents any kind of incentive to blow it all and leave nothing for one's heirs is so completely wrong right out of the gate that I don't see why we need this grandstanding about billionaires not investing in the public to make a point.
https://files.facepunch.com/forum/upload/107231/0edb78e1-f59c-4f1c-98a7-b2ff402ab345/image.png
Where do you think the revenue from the money invested in the banks comes from?
If they're putting their money into domestic banks then the money is still invested, just by the bank.
They pretty clearly didn't say that, they said this.
People are dying because they can't afford insulin
"the estate tax recognizes that society expects a return on its investment"
I apologize if I misinterpreted.
ya you're being pedantic. Society is not run by billionaires tossing sacks of cash around. In fact to be literal, billionaires are not even litterally giving banks the cash they use to operate, the government gives it to them through a complicated process of promises and loans from the federal reserve to the banks.
Gates Foundation is kind of a bad example. They stopped backing Planned Parenthood and they massively fund charter schools. The ways they use their "charitable donations" are not even maximized for the public good. Its mostly a way to push their pet politics and put a friendly face on interests that benefit them specifically.
How dare he stereotype me correctly
https://files.facepunch.com/forum/upload/109834/7aebcc37-35b3-4bb5-b6fb-107fd7417729/image.png
this is a really late article
Can't he just be turned into a nutritious paste and fed to crabs or something?
There's no nutritious in that old greasy skeleton.
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Sen Grassley: Estate tax attacks those who "don't spend every penny on booze..."
