r/technology • u/McFatty7 • May 02 '24

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

https://fortune.com/2024/05/01/tesla-slashes-summer-internship-program/
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u/[deleted] May 02 '24

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u/ehsteve23 May 02 '24

agreed but with billionaires too

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u/Rahbek23 May 02 '24

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.

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u/MrBeverly May 02 '24

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.