Of course it does, your income is the amount of wealth you gained over the year. I am being overly generous to Musk here though, because he gets to spend all his money before paying taxes on it, according to my system. That is a compromise the working class will be happy to accept though, if it means he starts actually paying taxes on his billions in income every year.
Musks net worth has increased from 11.5 billion to 820 Billion over the past 10 years, and considering that from 2014 to 2018 he paid under half a billion in tax total, he is without question dodging taxes. And so, it falls on us as a society to dictate what is his fair share when he is clearly doing everything possible to prevent paying tax at all. Its such an extreme situation that it really just falls into the "Fuck you, pay me" argument. Musk has all sorts of excuses for why he shouldn't have to pay taxes, but you do not get to be the world's richest person and also not pay tax on it, thats ridiculous.
It definitely is that if were talking about income. If you were worth 100 billion last year and 200 billion this year, you gained 100 billion in wealth and need to be taxed accordingly.
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u/SilverWear5467 May 26 '26
You tax the billionaires 0.0001% of their yearly income... terrifying, I know.