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Tax The Rich

fatpiggy

fatpiggy

Heisman
Aug 18, 2002
24,463
23,101
113
I pay property taxes on $18.2 billion in assessed assets. $412 million a year. Say it again: four hundred and twelve million. I carry that number. It's the first thing I think about when I see a protest sign. I think: I pay more in property tax than the entire annual budget of the city of Fort Lauderdale. I looked this up. Fort Lauderdale: $408 million. Steve Roth: $412 million. I am a small city. And the city doesn't get screamed at.
 
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fatpiggy

fatpiggy

Heisman
Aug 18, 2002
24,463
23,101
113
My effective tax rate last year was 11.4 percent. I say this because I believe in transparency and because I'm not ashamed of it. The rate reflects the legal structure of real estate investment trusts, depreciation schedules Congress established in 1986, and carried interest provisions that both parties have voted to preserve for forty years. I did not write these laws. I organized my entire financial existence around them with the help of nine full-time tax professionals who have offices on the 38th floor of 888 Seventh Avenue, which I also own. Their office is in my building. Their work protects my buildings. This is not a loophole. Sharon calls it a loophole. I've told her: a structure maintained by nine attorneys across four decades is not a loophole. A loophole is something you slip through once. This is architecture.
 
fatpiggy

fatpiggy

Heisman
Aug 18, 2002
24,463
23,101
113
Last Tuesday, same as every Tuesday, I walked past 1290 Sixth Avenue. My building. And there was a man. Same man as last week. Same sign: "Billionaires Pay Your Fair Share." He was standing on my sidewalk. My literal sidewalk — my company owns the ground lease. He was maybe thirty. He was wearing a jacket I would estimate cost $60. My lunch that day was $114. For one. I am telling you this not to boast but because these are facts. He has decided I'm his enemy. Based on a number he saw on a Forbes list. He doesn't know what I pay. He doesn't know what my buildings cost this city in construction jobs and lease revenue and foot traffic. He knows one number. He has made one judgment.
 
fatpiggy

fatpiggy

Heisman
Aug 18, 2002
24,463
23,101
113
I didn't choose to be rich. I chose to be good at one thing for a very long time, and this is what happened. You don't punish someone for that. You don't legislate against someone for that.

My net worth fluctuates between $3.8 and $4.1 billion depending on the quarter. I fluctuate more in a fiscal week than that man on my sidewalk will earn in his life. Both of these are facts. Only one of them is considered polite to say.

They want me to apologize.

I'll be dead in ten years. Twenty if I'm lucky. And they'll still be renting my buildings.
 
Huey Grey 2

Huey Grey 2

Heisman
Jul 1, 2025
3,837
13,180
113
fatpiggy said:
My effective tax rate last year was 11.4 percent. I say this because I believe in transparency and because I'm not ashamed of it. The rate reflects the legal structure of real estate investment trusts, depreciation schedules Congress established in 1986, and carried interest provisions that both parties have voted to preserve for forty years. I did not write these laws. I organized my entire financial existence around them with the help of nine full-time tax professionals who have offices on the 38th floor of 888 Seventh Avenue, which I also own. Their office is in my building. Their work protects my buildings. This is not a loophole. Sharon calls it a loophole. I've told her: a structure maintained by nine attorneys across four decades is not a loophole. A loophole is something you slip through once. This is architecture.
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This guy's effective tax rate is lower than mine. That's probably not a good argument for the claim that billionaires are paying too much.
 
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Huey Grey 2

Huey Grey 2

Heisman
Jul 1, 2025
3,837
13,180
113
fatpiggy said:
I didn't choose to be rich. I chose to be good at one thing for a very long time, and this is what happened. You don't punish someone for that. You don't legislate against someone for that.

My net worth fluctuates between $3.8 and $4.1 billion depending on the quarter. I fluctuate more in a fiscal week than that man on my sidewalk will earn in his life. Both of these are facts. Only one of them is considered polite to say.

They want me to apologize.

I'll be dead in ten years. Twenty if I'm lucky. And they'll still be renting my buildings.
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It's crazy watching this guy flexing on how rich he is after complaining that taxes are somehow breaking him.
 
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firegiver

firegiver

Heisman
Sep 10, 2007
73,433
19,645
113
fatpiggy said:
This Billionaire tells you to **** right off. He makes excellent points.

Personally I like Billionaiees. I want to live where they live because I like nice things.


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Tax the rich is a racial slur?
A person is complaining they pay what 4% on property taxes?
And a lower tax rate than most hard working Americans?

Yah it definitely is time to tax the rich. That is one out of touch moron thinking hes cooking. Should listen to his pr person and give her a raise.
 
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fatpiggy

fatpiggy

Heisman
Aug 18, 2002
24,463
23,101
113
I’m going to live where the Billionaires live. I won’t run them off because I’m not a jealous as shole.

Yall can have the slums.
 
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fatpiggy

fatpiggy

Heisman
Aug 18, 2002
24,463
23,101
113
Y’all probably think the person who has paid the most taxes in world history doesn’t pay enough.

Think about that

The jealous people will never be satisfied
 
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firegiver

firegiver

Heisman
Sep 10, 2007
73,433
19,645
113
fatpiggy said:
Y’all probably think the person who has paid the most taxes in world history doesn’t pay enough.

Think about that

The jealous people will never be satisfied
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I don't know if you are trolling or not, because as I've stated you are a deeply dishonest person, but there are objective reasons for progressive taxes. Jealousy, is not a counter point to them.

A progressive tax makes sense because it takes a larger share of income from those who can afford to pay more, thereby promoting fairness in the tax system. This approach helps reduce income inequality by ensuring that higher-income individuals contribute a greater percentage of their earnings to fund public services and programs.

Income inequality is bad because it can lead to shorter life expectancy, poorer education, and higher incarceration rates, as seen in more unequal societies. Additionally, it can give wealthier individuals excessive control over others' lives and undermine social cohesion, leading to increased tensions.

So.... unless you are hoping for class warfare in your life time, the reasonable thing to do, is tax the rich.
 
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Mcgibbs

Mcgibbs

Freshman
May 7, 2026
245
58
26
Ok, if you don’t want to be taxed more because you’re rich, why don’t you do some good with your money instead? Do you really need 8 properties? Wouldn’t you get more joy out of someone that is struggling but works just as hard in not harder than you do?
I can get behind that fact that someone shouldn’t be taxed more just because they are successful but why would you want to be successful and a prick?
 
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B

bdgan

All-Conference
Oct 12, 2021
4,382
4,334
113
Huey Grey 2 said:
We aren't even in the realm of 90% so your post is irrelevant.
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The fact that you hate ultra rich people doesn't make my post irrelevant.

I've clearly stated that I support higher taxes on the ultra wealthy but not so much as to make things counterproductive. I like the fact that 8 of the top 10 most valuable companies in the world are American companies. There's a reason for that that.

Everybody has their own threshold for determining at what point they feel it's no longer worth investing and risking their money. My opinion is that the breaking point for most is about 50%. I think people will be reluctant to invest if they can lose it all but keep less than half if they succeed. We're already close to 50% depending on where you live. 37% federal + 11% NYS + 4% NYC = 52% and that's just income tax. IMO that's enough but I also understand that we have a huge debt/deficit and we're not going to make it up by taxing poor people. That's why I support Biden's plan to increase the top rate back to 39.6%.

The issue seems to be the desire to tax wealth (unrealized gains) instead of income. There are only 10 countries in the world who do that and there's a good reason. It's subjective, difficult to administer, and encourages wealth people to leave. The wealth tax in countries like Norway is 1%, not 25% like some people propose.
 
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B

bdgan

All-Conference
Oct 12, 2021
4,382
4,334
113
Mcgibbs said:
Ok, if you don’t want to be taxed more because you’re rich, why don’t you do some good with your money instead? Do you really need 8 properties? Wouldn’t you get more joy out of someone that is struggling but works just as hard in not harder than you do?
I can get behind that fact that someone shouldn’t be taxed more just because they are successful but why would you want to be successful and a prick?
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That's what Obama said. Now he owns 3 expensive homes.

What does it mean to do something good with your money? The people who build and service those homes earned a living. Isn't that good? People who work for owners of companies also earn a living. Isn't that good? Bloomberg, Gates, Allen, Buffet, Scott, etc have donated $billions to charity. In fact the top 50 donated $22.4 billion to things like hospitals, universities, and medical research in 2025 alone. Musk is investing in technology that will allow handicapped people to walk and speak. Should the government confiscate that money?
 
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Mcgibbs

Mcgibbs

Freshman
May 7, 2026
245
58
26
bdgan said:
That's what Obama said. Now he owns 3 expensive homes.

What does it mean to do something good with your money? The people who build and service those homes earned a living. Isn't that good? People who work for owners of companies also earn a living. Isn't that good? Bloomberg, Gates, Allen, Buffet, Scott, etc have donated $billions to charity. In fact the top 50 donated $22.4 billion to things like hospitals, universities, and medical research in 2025 alone. Musk is investing in technology that will allow handicapped people to walk and speak. Should the government confiscate that money?
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Those are all great things that those people are doing. We know that not every billionaire does these things and that’s why I asked the op, do you really want to be a billionaire and a prick? I also wouldn’t say that paying someone to build your home is considered donating or helping someone. Unless you are paying them wayyy more than what they would be getting paid.
 
GDead_Tiger

GDead_Tiger

Heisman
Dec 7, 2021
13,689
35,538
113
I think having a billion dollars is fundamentally immoral. I also think people don't realize just how much money that is.

For instance, Harry Maguire for Manchester United has career earnings of ~$100m. I could make $175k/year every year since the fall of constantinople and still have less than him. I would have to repeat that more than 10 times to be a billionaire.
 
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BrianNole777

BrianNole777

All-American
Jun 5, 2025
5,690
5,788
113
GDead_Tiger said:
I think having a billion dollars is fundamentally immoral. I also think people don't realize just how much money that is.

For instance, Harry Maguire for Manchester United has career earnings of ~$100m. I could make $175k/year every year since the fall of constantinople and still have less than him. I would have to repeat that more than 10 times to be a billionaire.
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Yep.

1 billion dollars is being a millionaire times 1,000...it's ridiculous.
 
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GDead_Tiger

GDead_Tiger

Heisman
Dec 7, 2021
13,689
35,538
113
bdgan said:
That's what Obama said. Now he owns 3 expensive homes.

What does it mean to do something good with your money? The people who build and service those homes earned a living. Isn't that good? People who work for owners of companies also earn a living. Isn't that good? Bloomberg, Gates, Allen, Buffet, Scott, etc have donated $billions to charity. In fact the top 50 donated $22.4 billion to things like hospitals, universities, and medical research in 2025 alone. Musk is investing in technology that will allow handicapped people to walk and speak. Should the government confiscate that money?
Click to expand...
Yes, they should.

The amount of money they give is a drop in the bucket of what they have and they often use it to avoid paying taxes. Scott has a higher networth now than when she started giving money away.

Every single cent Elon musk has should be taken by the federal government and his companies nationalized. His actions illegally dismantling USAid to live out his apartheid fever dream will give him a body county equivalent to Pol Pot or Mao
 
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fatpiggy

fatpiggy

Heisman
Aug 18, 2002
24,463
23,101
113
BrianNole777 said:
No human should have a billion dollars...it's pure greed to have tons more money than you need while millions of humans live in poverty.

If you're a Christian @fatpiggy you know that someone important said it's hard for rich people to get to Heaven.

Read the Parable of Lazarus and the rich man.
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Im agnostic.
 
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B

bdgan

All-Conference
Oct 12, 2021
4,382
4,334
113
GDead_Tiger said:
I think having a billion dollars is fundamentally immoral. I also think people don't realize just how much money that is.

For instance, Harry Maguire for Manchester United has career earnings of ~$100m. I could make $175k/year every year since the fall of constantinople and still have less than him. I would have to repeat that more than 10 times to be a billionaire.
Click to expand...
How much less expensive would your house, insurance, and groceries be if we taxed the rich and extra $25 billion?
 
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UrHuckleberry

UrHuckleberry

Heisman
Jun 2, 2024
9,581
19,655
113
GDead_Tiger said:
I think having a billion dollars is fundamentally immoral. I also think people don't realize just how much money that is.

For instance, Harry Maguire for Manchester United has career earnings of ~$100m. I could make $175k/year every year since the fall of constantinople and still have less than him. I would have to repeat that more than 10 times to be a billionaire.
Click to expand...
But can you imagine having to be Harry Maguire?
 
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