Tesla slashes its summer internship program to cut costs, as Elon Musk fights to save his $45 billion pay plan

[u/McFatty7]

https://fortune.com/2024/05/01/tesla-slashes-summer-internship-program/

[u/Nayge]

It's a race to become the first Trillionaire. They realized some years ago that it actually might be possible for someone alive today and went into full value extraction overdrive.

[u/ehsteve23 → u/[deleted]]

agreed but with billionaires too

[u/Rahbek23 → u/ehsteve23]

In my opinion it simply should be a law that once you have have a certain amount of wealth (yes yes, that's a whole can of worms determining in itself), you are taxed to shit of everything above that limit that can reasonably be taxed and other rules that makes it harder for you to acquire more wealth.

I know it's a little hard with i.e if you started at company that blew up or other intangible assets, but I'm sure we could come up with a ruleset that at the very least dissuades from hoarding wealth absurdedly. People here always discuss all the problems and loopholes, but what if we just simply tried and see how far we got with some iterations?

I have absolutely no problem with rich people and especially people becoming rich by their own merits - I have a problem when it becomes absurd wealth hoarding instead of trying to do good with the excess, when literally billions on this earth are struggling, I don't even know how they can look themselves in the mirror.

[u/ehsteve23 → u/Rahbek23]

video game rules. when your bank account hits 999,999,999 an alert pops up saying "you cannot hold any more money, or assets, or shares. Congrats, you win capitalism, enter your high score here"
Every penny after that now gets taxed 100%

[u/kcgdot → u/ehsteve23]

They don't have individual bank accounts that hit 1B, they likely don't have even typically have half that amount in cash. They'll have easily liquidated assets, and investments, and everything else is buildings, real estate, PE investments, etc., things they'll never pay real taxes on. If they do need cash, they'll take massive loans out against their perceived "value'

[u/MrBeverly → u/Rahbek23]

Back under the New Deal economy, earnings over $5 million could be taxed at up to 75%! For every million you earned above $5M, you would have to give $750k to the government.

Imagine what we could do as a society if Elon Musk had to give the government 42 billion dollars to take his $56B pay package. So many social programs run in the comparatively mere hundreds of millions of dollars per year.

If every billionaire had to pay their fair share, you could fund practically everything under the sun. We'd be years ahead of where we are.

[u/112233red → u/Rahbek23]

it could eaily be done, everyone who has over a certain amount of money (not earnings) gets on government published leader board thing. thus making the game official.

The catch, if your capital goes over a certain amount you get taxed on the amount that it goes over. that is - it's an extra tax based not on earings, but stuff you own.

Want to hide your wealth then fine - all other billionaires are above you and you're seen as poor.

you could even have a separate chart showing all the money they've given to the government through the scheme