Tax The Rich: Here's What Happens...

I’m sure you’ve heard it: “tax the rich”. The people yelling such things are doing it from a place of “they need to pay their fair share”. Unless you live under a political rock, I’m sure you are well aware that taxation and rich people is a pretty hotly debated topic. The point of this video is not to “talk politics” or say what policy is right or wrong, but rather, I just want to show you the actual real world results of what happens when you do tax the rich. The best part here is that I will NOT be talking “in theory”. This is not some kind of theoretical think tank on my part where I’m just conjecturing what would happen. At the time of this video, we had some recent headline news in the financial world about Elon Musk and taxes. Once again, I’m not going to comment on whether any of this was right or wrong, but I just want to show you what happened when taxes and Elon Musk collided. I understand it is easy to sit from one location and yell “tax that rich guy over there so he pays his fair share”, which is fine, but we all need to remember there can be secondary degree consequences from what “sounds good”. Regardless of where you stand on the morals of any of this, there are still economic and mathematical principles that need to come into play here when analyzing the effects of “tax the rich”. Let me show you using a real world event what happens when you go after the rich and make them pay taxes.

[ericjackson]

"I pay less in taxes than my secretary"~Warren Buffet

[ChewieFlakes]

This is some hardcore late stage capitalism copium

[jeremiahmilazzo]

What does that 11 billion in taxes go prob into politicians pockets

[angelcruzify]

I am a Tesla shareholder. the problem is not So much tax the rich the problem that I see is the people who wants everything For free

[Princesscolex]

What I got from this was: Elon Musk was irresponsible, didn't pay his taxes in the first place, inflated the Tesla stock price, and then ended up hurting other investors.

[thelonesomechef]

How much in taxes did jeff bezos have to pay last year again? 🤦‍♂️

[torenboston]

So you're saying rich people shouldn't pay their fair share in taxes because it will hurt the stock market?

[drgafaat]

I get what you were going for but there are 2 take aways that you also highlighted, 1, billionaires are to big to fail. 2, my investment is F***ed if a billionaire on a whim cashes out stock to buy a yacht. It would be nice if these whales didnt make such large waves.

[samanthazayas]

Moral of the story, stop with the ridiculous taxes. Great video

[chone]

No. All stocks go down and up for many different reasons they pump and dump. trading blindly well its a bad trade no DD, should've got the gains and bought at the low.

[jeremiahmilazzo]

You don't haft to invest in his company but you do haft to pay taxes it's survival of the fittest baby

[Rafael-Bravo]

What if my definition of rich is being a trillionaire? Should I pay for everyone's stuff? Why? It's not my fault that people are broke...

I'm still broke, I'm not rich at all, but I don't understand why a few super hard working guys(or women) have to be responsible for someone else's mistakes

Someone else's definition is fine but enforce law over others based on that?

If working hard will be punished, then long live mediocrity

[Dahmy]

Sir we would like to talk about future stock one day thanks 😊

[dhruvprajapati]

Lets make it simple, When you tax the rich that increases the wealth of the country that taxes them, Then this makes life a little better for the common people who live in it by government spending money on health care, police and etc... if the stock price goes down who gives a shit as it doesnt indicate the real economy of the country anyways. Also if the company does well it will go up anwyasss soo u dont have an argument

[Bladengator]

dumb take. You started trying to make a point and then go in all types of directions. You are licking the shoes of billion dollar CEO's for their scraps. They should pay more taxes to raise the actual lives of most of americans.

[Mrtamal]

People are actually taking this video seriously? You know what makes it harder for me to reach the “peace of mind line”? When the government taxes me more because they refuse to tax te rich appropriately.

[mymoneypits]

Sells 16B worth of stocks & pays 11B? So like wayy more than half?? That's theft tbh

[sirjackson]

Well said! It is interesting that our government has decided it "just" to instate unproportionally higher taxes on people for having more wealth. The percentage ought to be across the board

[albertoacosta]

The biggest problem is taxes and laziness

[seniorspam]

Really? Crying for a billionaire that payed an effective tax rate of like 3% the years prior? And cmon, this example is overly specific lol, if your financial and mental well-being depends on a single stock, that was a poor financial decision to make putting that much of your wealth into one stock, this scenario describes almost no one, definitely not average income people.

After this one year occurrence he’s gonna go back to paying a tiny tax rate thanks to the loopholes these guys have, meanwhile you’ll still be trying to convince average people that pay a higher tax rate than him to feel bad for the guy. Lmfao political cuckoldry.