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RuairiSpain t1_jclph9g wrote

Reply to comment by Ssider69 in Peter Thiel says he had $50M in SVB when it collapsed. by PossessionStandard42

And this is the reason the FED will keep giving free money to banks and keep interest rates low so Venture Capitalist and Vultures can keep doing their financial pump and dumps of Tech and Pharma startups.

In the end this bail out of depositors will be normal tax payers. Like you and me.

Peter is not a normal tax payer, his tax rate is probably around 1% of his income. I checked Peter's philanthropy, he gives $1,000,000 to young people that drop out of school to start businesses, this sounds like an early-bird angel investor rather than philanthropy.

His other "philanthropy" is donating big money to Republicans, 20 million! https://www.opensecrets.org/donor-lookup/results?name=peter+thiel&order=desc&sort=D

On good news, his COVID-19 hide away in New Zealand seems to have lost it's planning permission. His a great American, that runs off to New Zealand when the shit hits the fan. https://nypost.com/2022/08/19/peter-thiels-plans-for-dream-home-in-new-zealand-are-gone/

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Forsaken_Ad6559 t1_jcn7gnm wrote

Its a crime against humanity that capital gains are not taxed as much as income. Doing that would singlehandedly fix a lot of wealth inequality.

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Taxing t1_jcnggvv wrote

If you believe tax policy is simple, you’re probably not digging deeply enough into it.

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Forsaken_Ad6559 t1_jcngwhm wrote

"It's too complex for you to understand, that's why we don't have to pay the government as much for the money we get as you do for the money you get". Yeah fuck off conman. They better fix the problem soon or people like me will find nasty ways to fix it ourselves, including destroying the US economy.

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Taxing t1_jcnhqmy wrote

You have an incredible attitude. Tax policy is fascinating and worth investigating. There is a long history of why the preferential capital gain rate was instituted, and the benefits resulting, the most important at the time was stimulating investment. With the present increases in wealth disparity, there are calls to shift policy. Somewhat recently there was a 5% increase for high income earners, and variations of the Build Back Better Act attempted to make more material changes, but did not pass.

Before tax policy, maybe research the Dunning-Kruger effect.

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Forsaken_Ad6559 t1_jcnhycj wrote

I'm ignoring all this because it reads like it was generated by ChatGPT

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Taxing t1_jcni5oe wrote

Cool, engaging discussion. Don’t challenge yourself in anyway, you’ve got it figured out already, and anyone who shares anything that doesn’t fit, be mean.

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Forsaken_Ad6559 t1_jcnig4p wrote

I've heard and already dismissed everything you could possibly tell me on the matter. It is all obfuscation and bullshit. Don't care, go away.

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Taxing t1_jcnjrtl wrote

If there were a market for stupidity, I’d want drilling rights to your head.

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Forsaken_Ad6559 t1_jcnjxe2 wrote

Very engaging argument you've got there douchebag. At the end of the day it turns out you actually were just full of shit!

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ThirdFloorGreg t1_jcnubui wrote

It's really not that hard to understand. Tax policy has multiple goals, and revenue is the only simple one. The big one is incentivizing beneficial behaviors like investment.

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puckmama1010 t1_jcp4w81 wrote

Beneficial behaviors like investment? Benefits who? Trying to out talk the 99%ers is old. We don’t give a crap about all of the economic speak that is thrown around as wealthy folks get bailed out by the government while their heads explode if we talk about forgiving student loan debt

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ThirdFloorGreg t1_jcpe2rg wrote

Investement stimulates economic activity. As a super simple example, it can make it possible to start a business without already having the necessary capital. The alternative to investing money is simply hoarding it, which benefits no one but the person who has it. Money really only exists when it is in motion, and investment keeps it in motion. I'm sorry the world isn't as simple as you would like it to be.

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puckmama1010 t1_jcr35t2 wrote

It’s not about simple. It’s about favoritism. You guys all act like we are stupid. We are not. We are tired of the “these guys help you” routine. Guess what? Everyone that took on college debt so your investments can succeed deserve equal treatment by the folks in DC that decide who gets bailed out

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bdsee t1_jcni24i wrote

Even worse, that's why we don't have to pay as much tax for the money our money makes for us as you have to pay for the money your sweat makes for you.

I mean usury was considered immoral at one point, working for koney never was.

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Forsaken_Ad6559 t1_jcnic9l wrote

Don't get me started on what a con game the financial system as a whole is. The entire purpose of modern finance is to keep labor productivity high and wages low. Every policy is crafted expertly to disadvantage people who work and prevent people in the bottom 50% from climbing out.

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nomadofwaves t1_jcnhtrh wrote

He left facebooks board I think in 2020 maybe a bit early so he could be more politically involved. He’s also probably part of the reason trumps campaign ran such a great social media presence in 2016. I’m sure his Palantir company and access to Facebook was extremely valuable back then.

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Forsaken_Ad6559 t1_jcu36hw wrote

Thiel is a technofacist and Facebook to him is a social experiment related to Girardian conflict theory, he admitted that openly. Man wants to use social media to start a war.

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