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Eric Siu and a co-host break down a proposed billionaire tax and why it could expand to hit regular earners. Income tax started as a tax on the wealthy but eventually broadened to the middle class, and this one could follow the same path.
Eric Siu and a co-host break down a proposed billionaire tax and why it could expand to hit regular earners. Income tax started as a tax on the wealthy but eventually broadened to the middle class, and this one could follow the same path.
Usually what happens is everyone on Threads is like, oh my God, Gavin Newsom is the next United States president. Okay, he's our guy. He's our guy. He's our guy. Right? And then the moment the Wall Street Journal is like, Gavin Newsom does not support the billionaire tax because mathematically it doesn't make sense. Right. And there's actually people leaving now because the problem with this is that if you roll something like this out, then when's the next one coming and the next one coming and the next one coming? It starts to go down a slippery slope.
And what they're saying on this is, is it can move from billionaires within this proposal. Yeah. Like they can just naturally start taxing people. Go to 100, go to 50. Yeah. Just keep like it's a slippery slope.
I agree with that part. Politics are not— throwing that aside. But the funny thing that I saw was Someone posted the Wall Street Journal headline. It's like, he's not our president anymore. And then all the comments are like, yeah, screw him. You know, he's not our guy. I'm just like, dude, guys, you change on a whim like that? Come on. Like, right? So I'm not on the left or the right here. I'm just saying that's kind of funny to me.
But it is also very logical too. And people don't realize this. Income tax started with just like the 1% or the really wealthy, and then it moved down to everyone. If you want more insights like this on AI, marketing, and business, follow to learn more.
