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Joined 2 years ago
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Cake day: July 11th, 2023

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  • It’s pretty common knowledge how these billionaires leverage the value of their stocks/assets as collateral against loans, in order to avoid having to pay capital gains tax.

    Even though it’s not liquid cash, there really isn’t much to preclude them from taking out cash loans up to like 70-80% of their value if they ever wanted to (not that they would, as cash depreciates in value due to inflation).

    So while you are correct that if they ever had to liquidate their shares the value would plummet significantly - unless something catastrophic happens and the value of those assets plunges well below an acceptable level to their financiers, it will never happen.

    If you owe the bank a $100 and can’t pay it back, that’s your problem. If you owe the bank $100m, that’s their problem.




  • Don’t even try to explain the numbers to conservatives, just make it clear that if it resulted in them getting more money somehow, it would be literal blood money.

    One issue with this is, Conservatives don’t care about random people dying - they’ve been conditioned by right-wing media into believing those people who die deserved it, or that it’s just a deep-state conspiracy with crisis actors.

    They will only ever change their stance (and even then, only temporarily) when it happens to a friend or family member.

    Appealing to their better nature is a fool’s errand.