CIRCLE WITH A DOT

@geerlingguy @claudeai Good news! They have in fact not profited exorbitantly, as not a single one has made any profit whatsoever.

@SmallGreenPixel I too am learning Python and Linux, and am trying to work in the tech field. The learned wizards speak in riddles and I am often confused and intimidated!

Welcome, friend.

@anolandria TikTok uninstalls jumped 150% when the ownership change was announced, so I think many Americans knew what was coming.

@rpluim @codinghorror @justenoughducks I agree, but the term "income" is the problem. Assets (like stocks) that appreciate in value are legally distinct from income, so that distinction would have to be functionally removed.

@codinghorror @justenoughducks @rpluim From my surface-level understanding, one big part of it is the ineffectual capital gains tax. The tax is only applied when people sell assets; so instead, they dodge taxes by simply borrowing against their assets' worth. Those asset values keep ballooning while they avoid paying tax on it as long as possible.

I'm inclined to agree there should be an asset tax. People should be disincentivized from hoarding egregious amounts of wealth.