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andsoitis 56 minutes ago [-]
> one that would strip voting rights from anyone who pays no income tax
It could be an interesting thought experiment to consider the second and third order consequences, even if, from first principles this is a non-starter in a democratic society.
First off all, what percent of people do not pay any taxes on income? What portion of them are poor vs. hedge fund managers or other super wealthy people who have structured their income in a way as to pay zero or near-zero income taxes? Would the latter be disincentivized from continuing those regimes?
Regardless, if you work at Shopify, you should consider quitting. You do not have to work for a crazy person like that.
kklisura 42 minutes ago [-]
> Lütke holds seven per cent of Shopify, according to Forbes, and controls nearly a third of the votes attached to the company’s current shares. Since March 1, 2020, his base salary has been the figure he requested: $1, down from his previous $800,000. [1]
So, just so that I'm clear, that means that Lütke himself pays no income tax?
(assuming that he's not paid a salary by anyone else)
mikestew 7 minutes ago [-]
No income tax, but capital gains tax. And capital gains tax is a lot less than income tax (hence Buffet’s “my secretary pays more tax than I do”). So the “$1/year” CEOs are simply reducing tax burden.
But, yes, under the proposed scheme, Lütke doesn’t get to vote. One may rest assured that this was a simple mistake. In fact, I’m sure he meant that only those pay capital gains tax get to vote, not income tax.
bryanlarsen 4 minutes ago [-]
No capital gains tax is due until gains are realized. Lütke's gains are almost completely unrealized.
palmotea 15 minutes ago [-]
> ...vs. hedge fund managers or other super wealthy people who have structured their income in a way as to pay zero or near-zero income taxes? Would the latter be disincentivized from continuing those regimes?
Oh, you know if something like this was implemented, those people would re-structure their income so they pay $1 in income tax.
Or they wouldn't bother, because they have far more effective ways of influencing the political process than voting. This would be purely about disenfranchising weaker people who could get in the way of them getting even more power.
trollbridge 36 minutes ago [-]
In the U.S., it's about 28% of the populace which pays no taxes (or ends up netting to zero or negative taxation; for example, working families with children are often in a situation where they might owe $2,000 in taxes but also get a credit of $5,000, for a net refund of $3,000.) My 28% figure includes property, sales taxes, etc. but does not include taxes that employers, landlords, and so on pay.
This is all very beneficial for big business including Shopify: businesses can pay lower wages since the government steps in with benefits, including food, cash, housing, energy, medical care, and so on, for people with lower incomes, and then that means they have more money to spend as consumers (relevant to Shopify).
mae3x 17 minutes ago [-]
when you say "pays no taxes" do you mean income taxes or any taxes altogether? What about FICA/SECA 15.3% tax? Sales tax? Property tax? Individual income tax only makes up 53% of federal revenues as per https://fiscaldata.treasury.gov/americas-finance-guide/gover....
mingus88 25 minutes ago [-]
So the federal government can disenfranchise anyone they want by issuing that class of taxpayer a refund?
Redoubts 2 minutes ago [-]
This would be pointless to do for one person, and it would be very curious to see a government reject a massive funding stream from a swath of people like this.
lemonlimesoda 27 minutes ago [-]
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matthewdgreen 30 minutes ago [-]
I’ve spent the last three days writing an inventory management system for a small store, using Codex and Claude Code. I realize that fully replacing online tools like Shopify is a lot more work than that (the payment integrations particularly), but: I sure wouldn’t want to be in the SaaS business right now.
lux-lux-lux 15 minutes ago [-]
The majority of voters who pay no income tax are (heavily Republican) retirees.
geremiiah 37 minutes ago [-]
One possibly positive side effect is that by sidelining the working and middle classes, the political landscape would pit the rich against the fuck-you-rich.
It would be interesting to see the class of doctors, lawyers and small business owners fighting against the class of large cap c-suite and the billionaires.
kennywinker 42 minutes ago [-]
We don’t have to go farther back than 100 years in history to know what this looks like. Poll taxes, land ownership requirements, etc. were pretty common. So were goon squads to beat and murder people who tried to change that. It wasn’t good.
mothballed 2 minutes ago [-]
I wouldn't want a lot of the landscape 100 years ago, but I'd happily be disenfranchised if I could get the size of government 100+ years ago (federal government <~2% of GDP in non-wartime)
rayiner 17 minutes ago [-]
> Regardless, if you work at Shopify, you should consider quitting. You do not have to work for a crazy person like that.
Democracy is an engineering exercise, just like any other system. Every part of the system has trade-offs that must be evaluated. You can make a logical argument that any other policy is open to abuse, etc. But why do you have to accuse other people of being “crazy” for having ideas about how to engineer a system?
maxerickson 9 minutes ago [-]
You mean government and society are an engineering exercise. You can't strip people of power and then say it's a democracy, at least not if words mean things.
10 minutes ago [-]
biophysboy 39 minutes ago [-]
I think you would magically see more (edit: wealthy) people collect an income
anonym29 41 minutes ago [-]
>First off all, what percent of people do not pay any taxes on income?
If you modify this slightly to the percent of people who are not net taxpayers, meaning you subtract transfer payments (including social security, medicare, medicaid) to them from the taxes they pay (including social security, medicare, and medicaid), it's about 60% of the country, which tracks quite closely to the percentage of Americans who could not afford an unexpected $1000 expense.
Most of the country is on a constant financial cliff.
trollbridge 34 minutes ago [-]
The best analysis I have seen puts it at 28% once you net out sales taxes and property taxes. (There are a lot of people who own property that they live in, but don't work, but they do owe property tax obviously.)
Your 60% figure is reasonable, though, as the gap between 28% and 60% is people who are paying a very, very small net amount, mostly via sales taxes or other taxes that exist like taxes on airplane tickets or hotels.
fhdkweig 35 minutes ago [-]
Trump paid about $750 in taxes in 2016 while still claiming to be a billionaire. I wouldn't consider it a fair share, but would that $750 entitle him to a vote under this plan?
gruez 18 minutes ago [-]
>Trump paid about $750 in taxes in 2016 while still claiming to be a billionaire
Right, because the tax system (generally) taxes income, not wealth. Not taking this into account is like asking "you're millionaire, yet you don't have any income, how come?" to a retiree. According to the new york times article that broke this story, most of it seems to be from his loss making businesses elsewhere. Moreover in recent years he has been paying tax, as those losses have stopped.
Almost any system that limits participation in democracy will be abused to disenfranchise people that those in power do not want to give a voice.
So you're coming at this from the wrong end. The goal is explicitly to keep the poors from having a voice in politics. The exact policy and enforcement of the system will reflect that. Unintended consequences, like the rich being disenfranchised would not occur.
dgellow 39 minutes ago [-]
To say it differently, if that ends up disenfranchising the powerful, a different argument and set of law would be used
masfuerte 1 hours ago [-]
Money is power. That is the problem with extreme wealth. It provides unaccountable power outside the democratic process. It is not surprising that an already powerful man wants even more power, but I do not understand why anyone else would go along with this.
kraquepype 32 minutes ago [-]
> It provides unaccountable power outside the democratic process.
Doesn't help when the government doesn't maintain or enforce guardrails for the ultra wealthy.
This is a war on the middle class. Free and fair elections are the last hope that most have to resolve it peacefully, so of course those are under attack.
> I do not understand why anyone else would go along with this.
I've been asking myself that for 10 years. Through both traditional and social media manipulation, they found a way to get enough people to vote against their best interests, and normalize the behavior, that it doesn't matter if a large portion of the country is still paying attention and asking those questions.
Jenk 55 minutes ago [-]
> I do not understand why anyone else would go along with this.
Aspirations.
Lord-Jobo 30 minutes ago [-]
Which have ignorance as their root cause. Ignorance of the type of people that become ultra wealthy, and ignorance of the odds of becoming one of them.
We should “listen” to these people with the same attitude as we do”listen” to gas station lottery addicts, instead we give them WAY too much credibility.
ilaksh 54 minutes ago [-]
It's a structural problem in our socio-technical system. You can't separate money and government, because "corruption" to some degree is the default state. Yes there are exceptions, but the opposite if the bad apple concept. You have to get lucky to find the good apples. Which means there is some structural insufficiency in the concept of money and government.
andsoitis 52 minutes ago [-]
> It's a structural problem in our socio-technical system.
it has always been like this, has it not? almost by definition the more resources you have the more power you have. this is how the universe works.
ElevenLathe 39 minutes ago [-]
There have historically been obstacles and countervailing forces preventing accumulation to get to the point it is now. The classical example is labor organizing, which has been decimated in the last few decades, but that is just one symptom of how improvements in communication and transportation technology (often shorthanded as "globalization" due to the new political forms it has incentivized -- free trade, "decolonization", financialization, etc.) have radically tilted the table toward capital. Money is now transnational, but people, culture, and solidarity are not. There were once very severe practical limits to how closely one could control an expansive international portfolio of capital (mercantilist trade policies, primitive or nonexistent financial infrastructure, slow communications, etc.), and those have been relaxed considerably.
afavour 47 minutes ago [-]
Yes but there are degrees of it and right now we're pivoting towards that power being centralized with the rich once more.
Once upon a time only landowners were able to vote. Eventually that changed as the powerful realized that it was in their interest to share power, because they are vastly outnumbered and can have their riches taken away from them. It feels like we're getting closer and closer to today's rich classes having to learn that lesson again.
ilaksh 37 minutes ago [-]
Yes that's what money is almost by definition and government has always had that relationship. But realize that money and government are technologies and we can create new versions or even new paradigms.
dgellow 37 minutes ago [-]
FWIW the original meaning of the bad apple idiom is that a single one spoils the whole set
weard_beard 55 minutes ago [-]
I don’t understand what there is to gain for anyone by making the implicit system we have today explicit?
buellerbueller 53 minutes ago [-]
Maybe it is a clever play to shine light on the problem? (I doubt, but can't entirely discount, it.)
ajsnigrutin 31 minutes ago [-]
This sentiment is pretty popular amongst some of the younger working people... they work, pay a lot of taxes for everything, and then get outvoted by pensioners who retired under "old" laws and now get a higher pension than they ever earned while working (i'm talking from a position of government pensions, not the american save-for-yourself style). So, old people vote and decide, and young people get the bill for that.
The "if you contribute more, your vote should be worth more" sentiment would change a lot, because many actually rich people don't really pay a lot of taxes compared to higher middle class (engineers, doctors,..). If your vote was worth eg "log10(your-income-taxes + 1)" (to make buying a lot of votes impossible), more power would go to higher educated and higher paid people and less to people who don't contribute to society (at least not financially). Again, i'm talking about a society where pretty much everyone who works also pays income tax, and you're not cutting out the majority of poor people.
Would it work? Probably not, but i understand the sentiment.
shuwix 53 minutes ago [-]
Sorry to knock you out of your cloud.
In democracy, power comes from demos.
In capitalism, power comes from capital.
Demos doesn't have concentrated capital.
Try starting a new party without capital and backing from people tied to mainstream media.
People never had power. Whenever they've thought they have power (revolutions), they fought for one new power hungry scumbag to replace old power hungry scumbag.
noncoml 35 minutes ago [-]
> they fought for one new power hungry scumbag to replace old power hungry scumbag.
Because, as Plato argued, the best rulers are the ones that don’t want to rule, as ruling is a very heavy duty, if not burden.
If you strip corruption, it has no rewards. Instead you have to put up with “scambags” accusing for the things the corruption they would do if they had the power.
Why does this sound familiar?
robinhood 1 hours ago [-]
Fascinating to see how many tech people, as soon as they get rich, turn to extreme. Name them all - they mostly all are very active on X, and each new tweet pushes the limits of what was previously deemed unacceptable. I'm rich, so my opinion must be more important, right?
MDTHLN 50 minutes ago [-]
Ed Zitron had a great quote that's relevant to this.
> [they] have filled their skulls with a sense of moral and intellectual superiority - that because they have succeeded at work, they understand society better than others, and can only perceive the world through that lens of privilege
palmotea 10 minutes ago [-]
> Fascinating to see how many tech people, as soon as they get rich, turn to extreme. Name them all - they mostly all are very active on X, and each new tweet pushes the limits of what was previously deemed unacceptable.
They have the money and power, but tech people in particualr lack the social graces and awareness that previous generations of rich people needed to operate. They think very highly of themselves, but all that "intelligence" doesn't prevent them from acting stupidly.
adamors 54 minutes ago [-]
They were always capable of these thoughts, money just gave them access to actions as well. Money didn’t turn them extreme IMO, maybe more fearful about losing it.
fakedang 48 minutes ago [-]
Money would've allowed them to act any time. But no, this is because of the shifting tide, enabled by an openly elitist government that doesn't give a shit about the layman.
Remember how a few years back, all these billionaires and corporations were all talking about DEI and taking the knee and George Floyd, and (insincerely) shoving it all down everyone's throats?
It just became socially more acceptable for them to show their true colors.
AussieWog93 15 minutes ago [-]
I think everyone has weird ideas like this, but these rich, well-connected guys don't have to worry about their lives being ruined when they actually share them out loud.
I can't imagine many aerospace manufacturers turning down a contract with SpaceX because Elon said something politically incorrect. James Damore, on the other hand...
This isn't hate towards these rich guys (I think everyone should be able to say shit like this), just pointing out that we as a society hold them to different standards than we do regular people.
randusername 19 minutes ago [-]
I think too many billionaires convince themselves it was fate and scramble their brains under the weight of figuring out what the greater purpose is for their extraordinary wealth and influence.
The asymptotic equivalent of $20 "burning a hole in your pocket"
Here's to hoping for more batmans and less lex luthors
CodingJeebus 51 minutes ago [-]
Accumulation of wealth and power becomes an addiction unto itself if left unchecked. At some point, we all have to look in the mirror and ask ourselves if we have enough and start to place importance in other parts of our lives.
But many of the wealthiest people I have known were also the least happy, driven by an insatiable urge to be great, and despite achieving vast success, were never able to feel or accept that they had already achieved it. It was never enough.
amelius 53 minutes ago [-]
Well, they did /something/ right ...
kennywinker 38 minutes ago [-]
Would you say the same about someone who accumulated billions thru the illegal drug trade?
48 minutes ago [-]
vrganj 52 minutes ago [-]
This has been a studied phenomenon for a bit now:
Higher social class predicts increased unethical behavior
Honestly just my experience, but I've found it ironic that finance bros in my circle have gone the other way i.e. the effective altruism, philosophizing, podcasting route. While tech bros are now turning openly elitist, and in some cases, racist.
And before anyone claims it's selection bias from within my left-leaning circle, I was well involved within the Tory circus until recently (a couple of years back).
afavour 39 minutes ago [-]
Maybe an NYC bias here but in my experience finance folks are more closely tied to "well to do" social circles. Summering in the Hamptons, that kind of thing. And that crowd has always had a streak of philanthropy, even if it's as much a status thing as a genuine belief in helping others.
Silicon Valley is very far from all that. More broadly I think it's a reflection of the isolation (physical, cultural, etc) of SV.
notabotiswear 29 minutes ago [-]
Some sorta god complex resulting from dealing with machines that has the sole purpose of answering one’s commands, perhaps?
boelboel 22 minutes ago [-]
I think it might be because the tech bros got into a one-off event where a lot of people did and could've made money (as long as they were somewhat intelligent). Now the writing is on the wall that growth in the future will stall, as the sector takes up a larger portion of the economy,and positions of power will stabilise. Some of them probably believe turning elitist and racist could ensure them a better position for a while.
Maybe I'm trying to rationalise their behaviour too much but it feels like techbros have gotten a scarcity mindset.
buellerbueller 50 minutes ago [-]
This supports my belief that when being a finance bro was the only way to Croesus-level wealth, sociopaths tended to go into finance, so they could transcend societal norms with their wealth. Then, tech came along, making finance bro-level wealth seem quaint. Where did all the sociopaths go...well, you saw for yourself.
fakedang 44 minutes ago [-]
I agree, this could strongly be the case. Especially since now the most elite in finance are either working in quant roles and /or megafund private equity, both of which are extremely selective compared to tech. Megafund PE was always and still remains a bastion of conservatism, but quant shops still select for more objective skillsets meritocratically.
cmrdporcupine 39 minutes ago [-]
Or... hear me out.
"Tech bro" is finance bro.
Most of the "tech" CEO people we're admiring? as movers and shakers... very few of them actually come from an engineering background.
They're mostly just people attracted to the tech industry as a focus of dynamic high profit capitalism. The technology is only the background buzz.
Many of these businesses (Shopify especially!) -- in particular SaaS businesses -- actually have very weak "tech" innovation, it's really just the deployment of pre-existing engineering solutions (solved by other people usually) at scale in order to run a commercial business that just happens to use a lot of computers.
fakedang 31 minutes ago [-]
By finance bros, I meant people who continue to work in finance in some capacity. True, there is often some migration from finance to tech, which is usually composed of characters like the ones you talk of.
FLeXMurphy 51 minutes ago [-]
Who is going to say what is and isn't acceptable? You?
sheauwn 45 minutes ago [-]
Each person says what is and isn't acceptable, it can't really be any other way.
robinhood 45 minutes ago [-]
I'm far too stupid for that and I'm also privileged so what do I know. Many are more qualified to do so.
I just think that his statement is not acceptable and is clearly dangerous for the society as a whole.
kraquepype 29 minutes ago [-]
Yes. That would the point of democracy, if ours wasn't in shambles.
__MatrixMan__ 40 minutes ago [-]
I get to say what I'll tolerate, and what I'll interfere with. We all do.
nozzlegear 45 minutes ago [-]
Yes. If the billionaires can do it, why not me?
pixelatedindex 47 minutes ago [-]
I certainly get to say what is and isn’t acceptable for me. I also don’t get to say what is and isn’t acceptable for others. Don’t understand why your tone is so accusatory.
dgellow 31 minutes ago [-]
Yes?
kennywinker 1 hours ago [-]
Do you become a monster when you get ultra rich, or do you need to be a monster to get ultra rich?
throw2ih020 52 minutes ago [-]
Most "normal" people would hit $5-30 million, realize they have enough money for themselves and their descendants to be comfortable in perpetuity with some decent wealth management, and either retire or change careers to a passion project. Going to 100s, 1,000s, or 100,000s of millions inherently filters for people who have either absurd greediness (seeing wealth as a scoreboard) or a desire for power.
MSFT_Edging 34 minutes ago [-]
This is sorta the reasoning behind statements like "billionaires shouldn't exist".
It's not a statement that people shouldn't see fruits of their labor, but that past a certain point, its no longer about the fruits or even the tree, but the power that comes with it. In a democracy, those who get lucky in business are not owed power.
So yeah, billionaires and trillionaires shouldn't exist, because their existence is a side-channel attack on society. Pay enough money and rules don't apply. Past a certain point, that wealth should be heavily scrutinized and audited as if it's nuclear fissile material. Similar to the nuclear material, it can be productive for society, or absolute destruction.
pc86 40 minutes ago [-]
This is it, it's absolutely a filter beyond a certain point. I have a family member, far enough removed I'll never see any of it, that sold a business in his early 30s for something like $35-40M. Set his kids up for life with trusts, bought some toys and a second home, and been just sort of hanging out ever since (this was 15-20 years ago). He's happy, has a ton of hobbies, and if you ever suggested he start another business or start putting his name on cap tables he'd laugh his ass off. It would never even occur to him that he should try to double, triple, 10x his money, because he already has 10x more than he'll ever spend.
And for what it's worth his kids are remarkably well adjusted and nice, if a little bit out of touch about what most people deal with.
throw2ih020 25 minutes ago [-]
Same, my father was a doctor and had tons of doctor friends from med school and work. Pretty much all of them just cared about 1. making sure the family was provided for and had excellent education, 2. patient outcomes and 3. being comfy at home.
imzadi 1 hours ago [-]
My theory about this, as well as how it seems most powerful are abusers, is that you have to be willing to comprosmise your morality to get into that position in the first place. So it is not that being rich and powerful corrupts you, but you have to already be at least somewhat corrupt to get there at all.
grim_io 1 hours ago [-]
You can't get this far without being greedy in a neurologically abnormal way.
Most people would retire with "enough" long before.
21asdffdsa12 1 hours ago [-]
Well, you can also get relatively rich by marrying a monster- aka the state?
dgellow 26 minutes ago [-]
How does that work? I don’t get the analogy
pixelatedindex 45 minutes ago [-]
What? How do you marry a state?
pc86 37 minutes ago [-]
I think maybe it's an awkward attempt at some comment on politicians being able to legally insider trade?
genocidicbunny 55 minutes ago [-]
It's both. Getting into the multi-billionaire levels of wealth takes a certain mindset that can probably be easily associated with some neurological disorders and personality traits that one could describe as 'monstrous'. But becoming that rich also disconnects you from the reality of the average person. Your time by necessity to maintain and grow such levels of wealth is going to be spent among other people who are either in a similar position, or want to be in a similar position and are trying to ride the coattails up the wealth ladder. And try as you might to avoid it, it will skew your mental state towards that disconnect unless you take significant effort to avoid the benefits that being at that level of wealth brings to you. Most people who would be willing to eschew said benefits are also probably not the ones trying to seek out such positions of wealth in the first place, so they're going to be severely underrepresented in the wealthy circles.
orphea 47 minutes ago [-]
The latter. We even know what that monster is. It's psychopathy.
mikestew 1 hours ago [-]
The sociopath part is what allows one to do what it takes to get ultra rich in the first place. Other than Gates, not one comes to mind who gives anything to charity, for example (yes, I’m sure one or two exists).
Ekaros 56 minutes ago [-]
And at level that Gates operates charity of itself is form of power and influence. Not rich people spending money on these things is bad. But sometimes I just question motivations as a whole.
ilaksh 46 minutes ago [-]
Gates has spent many fortunes cleaning up his image, but he was one of the nastiest business practice worst monopolists ever.
"During Bill Gates’s tenure leading Microsoft, the company paid out an estimated $8.46 billion in publicly known antitrust settlements, competitor payouts, and government fines."
the US is the most charitable country on earth as a percentage of GDP. There is so much philanthropy that the finance industry is building new businesses just to serve it
What if extreme charity is merely sociopathic status signaling?
21asdffdsa12 59 minutes ago [-]
gates was so noble to even donate prescription medication in secret..
Arubis 45 minutes ago [-]
Gates is actually quite problematic (Epstein is a lot of the problem). If you need an exception to prove the rule, Buffett is a little easier of a fit.
sph 53 minutes ago [-]
The first part of your comment is correct, the second part is both wrong and unnecessary glazing of Gates.
There's plenty sociopaths that give to charity, because it's a socially accepted display of wealth, and because it is quite convenient for tax purposes.
tmaly 4 minutes ago [-]
I think there is a bigger issue here.
Charging people for their fundamental rights.
It happens in many different ways. Look at all these people that just want to live and they can't even do that without having to pay to exists.
It is getting to be like that movie "In Time" where there is a clock you have to keep funding or you expire.
taybin 56 minutes ago [-]
The thing about this that's so distasteful is that it removes the basis of enfranchisement from being the inherent worth of a human life and moves it more to "what have you done for me lately". It's pretty gross.
0xy 17 minutes ago [-]
There's numerous examples of commune societies evicting people who refuse to contribute.
The distasteful thing is people refusing to contribute to society, especially for long periods of time. I know many people who have various mental and physical disabilities (some severe) who insist on working. Some able-bodied people can't even match some with severe disabilities. It's sick.
mrwh 44 minutes ago [-]
I don't know why you're being downvoted, gross is exactly the word for it.
jchallis 56 minutes ago [-]
Lutke is a German who has lived in Canada for decades. Why comment on American tax policy ? Seems out of his lane .
Lord-Jobo 25 minutes ago [-]
These people almost universally believe their opinions and thoughts are uniquely special and always worth bowing to.
They are egotists. It’s one of the biggest parts of who they are.
dgellow 22 minutes ago [-]
The guy is a massive asshole but I don’t see the issue commenting on other countries policies, that’s what we all do
taybin 55 minutes ago [-]
Maybe he's suggesting it for Canada?
boelboel 16 minutes ago [-]
Multiple Canadian billionaires are pro trump and wouldn't mind becoming a 51st state.
adamors 50 minutes ago [-]
There’s no such thing for the billionaire class.
amanaplanacanal 11 minutes ago [-]
One note about the headline. He didn't say anything about Americans. That was injected by the editor.
rayiner 33 minutes ago [-]
The article criticizes “taking us back to the 19th century,” but ironically dropping property qualifications for voting was an innovation of the Jacksonian era of the 1820s-1850s. There is a tendency to all efforts to generalize the franchise together, but that’s illogical. Just because race and sex are illegitimate qualifiers for voting doesn’t mean that all qualifiers for voting are necessarily illegitimate. Are we asserting that psychological science has taught us nothing in 200 years relevant to our evaluation of whether someone who can't hold down a job at a grocery store should be steering democracy to the same degree as a doctor or scientist? (And note this is an argument against interest here, since I belong to what’s clearly now the dumber party.)
rawgabbit 13 minutes ago [-]
Government exists to serve the people. People do not exist so they can pay taxes. This was the very reason the Founding Fathers rebelled against Britain.
Oh boy! Can I play too? My system, which I call an expansion of antitrust, requires all people to keep their net worth under one billion dollars. Anyone approaching that number must give away assets to stay under. If you go over that, you must be broken up, by, say, beheading, or being drawn and quartered.
I'm not married to that number, if people think it should be half a billion, or 100 million, or whatever, I'll go along with it.
bad_username 7 minutes ago [-]
> If you go over that, you must be broken up, by, say, beheading, or being drawn and quartered.
How is this not hate speech?
tlogan 23 minutes ago [-]
It might actually be a better idea to require a short, in-person civic knowledge test every two years as a condition for voting. If you fail, you can take it again, but you cannot vote until you pass.
I’m only half joking.
Eddy_Viscosity2 39 minutes ago [-]
I think this is one of the cases where someone is just so rich that more money stops resulting in any meaningful additional quality of life. Then the only way to increase their quality-of-life differential (relative, not absolute value is the key metric here), is to make other people's lives worse.
nness 26 minutes ago [-]
It seems like billionaires somehow develop a deep resentment and drive to change the world, whilst not spending any of their money to do it. (I wrote before remembering that lobbying exists.)
forinti 20 minutes ago [-]
Voting should always be universal. The moment you exclude someone, you add the possibility of excluding more people.
scrumper 51 minutes ago [-]
Just to play with this a bit, this proposal instantly and completely ends Republican power. Low-taxed rural poor and retiree votes are gone, entirely. Higher earning coastal white collar and professional workers get 3-5 votes, offset to some degree but far from entirely by the business-owning rich blue collar class. The middle classes get 1. It's fairly obvious what that would mean for representation in the USA.
Second fun point is that he and his oligarch colleagues would find themselves with no votes: I guarantee I pay more income tax than this guy and anyone else in the multiple airplane owning class. Marvelous.
It is of course a fairly revolting idea but one which has some interesting unintended consequences, not least that we might suddenly find the rentier class figuring out how to declare income of $500,001 instead of a loss every year.
oldandboring 15 minutes ago [-]
You are a lone voice of reason in these comments, presumably because you checks notes read the article.
I will add that voting blocs do shift. In fact, in the last two US presidential elections, retirees actually broke for the Democrat. That could have something to do with Trump or be an actual trend.
Additionally, these rich people do pay a lot of tax, they just do it through different parts of the tax code and at a lower overall rate (by avoiding social security and Medicare taxes by way of earning through long-term capital gains). On the other hand they also own more real estate than you (probably) in desirable locations and pay a lot of property tax they can't avoid.
All that notwithstanding I sense that the root of this discussion that this guy's getting excoriated for, was exploring how to short-circuit the phenomenon wherein older people, voting at higher rates (and holding office long into their old age), secure for themselves preferential benefits at the expense of struggling younger generations. The thread took off in a strange way from there, but... I guess I like where it was trying to go at the outset.
WithinReason 60 minutes ago [-]
No representation without taxation?
polotics 40 minutes ago [-]
Considering the current gerrymandering, all sorts of regulatory capture, and a two-party system that's captured most voter's sense of identity and packaged it for abuse... I think this discussion is extremely theoretical.
Arubis 48 minutes ago [-]
Presumably because they don't believe that saying so publicly will result in unacceptable consequences.
inerte 54 minutes ago [-]
In the US the rich already has more public power than the poor... from lobbying to donations to "speech". I guess making it official would save them from all this work and simplify things?
jimmyjazz14 51 minutes ago [-]
Its cute how people who don't live here have the worst ideas for how we should run our country, like we don't see what they are trying to do.
otterley 43 minutes ago [-]
People who do live here also have terrible ideas. Terrible ideas can come from anywhere!
jrockway 47 minutes ago [-]
Rich people don't have enough power? He must not understand what levers he can already pull to get what he wants.
cogogo 40 minutes ago [-]
This is hilarious in that many very rich people pay zero income tax today. In this system “all of a sudden” all these people would be paying taxes on exactly 500k. Near zero for them anyway but with an explicit albeit BS claim of funding the majority of government expense. From a bit of quick research the top 1% of earners are about 40% of the tax base.
Everyone gets screwed in this system but especially those paying a good amount of taxes and getting fewer votes like the 200-400k range. Or maybe not especially. This just an outright terrible idea.
toader 34 minutes ago [-]
Ah, a German Canadian endorsing changes to the U.S. taxation system.
Traster 28 minutes ago [-]
It is interesting to hear how openly some CEOs will just say outright stupid things. Like ok, so you re-do the voting system to give rich people more votes than poor people. Fine. It's done. What's the first order of business amongst the electorate at the next election. Well Elon Musk now has 10 times as many votes as Tobias Lütke, why would Musk not just vote to change the system again, handing more power to himself? And on the basis of what principle would you oppose him?
It's just fundamentally a stupid thing to say, and the fact he says it in public strongly indicates that he's lost contact with anyone who will challenge him on this stuff.
runako 49 minutes ago [-]
The very rich have forgotten the lessons of the past.
They have forgotten that they also live in the very same physical world as the poor. Most of them don't even live that far from the poor.
Perhaps they don't consider the implications that nobody can fight a mob.
If they were as smart as they want people to think, they would think about these things and perhaps shut up (at least in public!) about making things worse for the poor.
biophysboy 45 minutes ago [-]
People need to stop conflating evil intentions with evil capacity. It is done regularly with Elon, Thiel, etc. As arrogant as they may be on X, they are drooling imbeciles when it comes to politics. Remember Blake Masters? Remember the Wisconsin supreme court election? How is the admin they endorsed doing? Has Lutke thought about how high-income individuals in metro areas vote?
They have failed again and again. There is no reason to believe Lutke's worthless dreams will go unchallenged if they are ever attempted in the first place.
Shalomboy 51 minutes ago [-]
We should really make a better shopify already; these guys aren't worth the salt they stand upon.
kennywinker 31 minutes ago [-]
Honestly, shopify’s near-monopoly has confused me for at least a decade. Their platform is bad, and has always been bad - at least from the perspective of managing a store - yet no real
challenger has been able to take their crown.
adolph 13 minutes ago [-]
1. This CEO is a Canadian.
2. We already have a gerontocracy. Tying income to vote-weight just solidifies the problem since most people earn more as their career progresses.
3. An alternative: grant voting rights to all under 18, proxied by their parent/legal guardian. This provides better alignment to the interests of the future than good fortune.
vivekd 53 minutes ago [-]
I think the title is inaccurate and a bit inflammatory. He's not advocating stripping most Americans of their voting rights. He's advocating stripping a tiny minority of Americans of their voting rights - specifically the minority of Americans that pay no income tax
darth_avocado 32 minutes ago [-]
Actually no. He’s advocating for attaching the amount of taxes you pay to the number of votes you get. Which pretty much erodes everyone’s rights except the ones at the very top. If everyone still has one vote but some have more than one, you’ve effectively stripped their rights.
otterley 41 minutes ago [-]
The suggestion is inflammatory in and of itself. The right to vote is core to democracy. One should expect even the slightest suggestion of abrogating this right, even to a tiny minority, to be met with a vociferous allergic reaction.
Stripping voting rights is a historical leading indicator of a trend to totalitarianism so it has to be nipped in the bud immediately.
nozzlegear 41 minutes ago [-]
He's advocating stripping rights, periodt.
geremiiah 49 minutes ago [-]
Look, I'm not even a millionaire, and I will never be a billionaire, but in an alternate reality in which I'm a centibillionaire, one of my chief aims would be to limit the political say of the electorate as much as possible, because their voting rights would be one of the biggest threats to my everything.
Moreover, everyone who gains any amount of power becomes protective of it.
That's basic human nature. As a conservative, I under this.
OutOfHere 34 minutes ago [-]
The problem with allowing only the rich to vote is that they're inherently exploitative of the poor. It's a veiled attempt to want to return to an approximation of slavery.
voidfunc 1 hours ago [-]
I dont think its a good model for America but if I were starting a country from scratch I might consider it. But I would also do stuff like a heavy death estate tax and disallow most generational wealth transfer.
everdrive 1 hours ago [-]
What would stop people from shifting to different kinds of wealth transfer? Extreme investment in education, squirrely work-arounds, nepotism, etc? I don't see how you can attempt to prevent people from providing as much benefit to their children as possible.
rickydroll 35 minutes ago [-]
I've heard some good arguments for eliminating a wealth tax and instead treating inheritance as income. There are other forms of money manipulation that should also be treated as income. For example, the borrow-spend-die trick. Other transactions that should go through a "cash" phase include the financial three-card Monty the AI companies are pulling right now. Other manipulations we need to make illegal, such as stock buybacks.
There are some "reasonable" exceptions one could argue for, but as soon as you start making exceptions, you open yourself to abuse of the system. For example, using the tax code to enact social policy. I think it would be more honest for the government to take in all the money as taxes and then turn around and distribute money for socially beneficial programs such as green energy, schools, public health, et cetera. If you look at who screams about this, you'll probably find that most of them are opportunistic people who are afraid somebody will cheat the system better than they do.
This would also be a good opportunity to create an independent, transparent organization that audits where the money goes and provides raw data they use to justify their actions to the public so that others can double-check their conclusions.
#IfIWereKing
21asdffdsa12 59 minutes ago [-]
I would allow only one Version- which is if junior builds a buisness and that buisness shows potential, the donor buisness (daddy) should be able to pay the taxes taxfree for that buisness.
erics32 15 minutes ago [-]
Journalism is terrible nowadays - Tobi was commenting on the Canadian political system, not American.
throw1234567891 52 minutes ago [-]
And the fall of Shopify begins now.
vkou 44 minutes ago [-]
He's been a turd that any reasonable person would endorse stripping of his wealth for years.
Hasn't affected the bottom line one whit.
throw1234567891 19 minutes ago [-]
He’s working on it. Never let a narcissist know you figured him out. They will continue.
noncoml 25 minutes ago [-]
I bet you that if their dear leader suggested this, most of the people would vote to have their voting rights be taken away.
vrganj 49 minutes ago [-]
How much more evidence do we need that there is in fact a class war going on and the rich are winning?
The biggest con they ever pulled off is making working class people (and yes, that includes you, fellow tech workers!) hate unions.
Unions are the only way workers can fight back - they may be able to tell individuals what to do, but they can't control the collective.
This is also why they're so feverishly trying to build AI - they finally want to have workers that have no way of organizing.
greenlimetea 37 minutes ago [-]
[dead]
blini-kot 32 minutes ago [-]
why indeed one must wonder? any ideas?
1asGh 60 minutes ago [-]
I was fully on the side of the nerds when pg wrote his pieces about nerds being bullied at school.
The events since 2020 have made me reconsider that. A certain type of nerd should go to an interment camp, preferably in some seasteading dystopia that Thiel wanted.
Let us see what they achieve in their Galt Gulch in isolation.
MarkusQ 46 minutes ago [-]
Paywalled articles seem to enhance the "comment without reading, based on vibes" effect.
From the article:
"Pension recipients should have their financial futures “locked in and guaranteed,” but in return would be reclassified as “dependents” and lose the right to vote—the same way minors can’t vote. A reply from “Eric Thor,” who claimed to be a retired banking executive as well as “armchair economist and policy wonk,” proposed a sliding scale: zero votes for anyone who pays no income tax, one vote for those earning $1–100K, two votes for $100–200K, scaling up in that pattern to a hard cap of five votes for anyone earning $500K or more. The pitch was framed as fairness—reward “representation” for those who “foot the bill” through taxation."
"That was the good system that Lütke endorsed."
Most of the commenters here seem to be responding to...something other than this?
mrwh 39 minutes ago [-]
And a husband who works and his wife who doesn't, should she get a vote? The commentators here are responding exactly to the spirit of what was said, there's no confusion on what's really being implied here. Namely, the destruction of the entire basis of democracy, which is one person one vote.
Another way to express the general disgust: that proposal is saying, "we're going to take away your power, but we'll still look after you, pinky promise!"
> the entire basis of democracy, which is one person one vote
This is a relatively recent innovation; most democracies throughout history have not had this property, so it's hardly the "entire basis" of the concept.
It is, however, an interesting and possibly worth goal. The obvious problem (which has been noted by many previously) is that when the people making the decisions are not the ones paying for it the system is unstable (e.g. "three wolves and a sheep voting on what to have for dinner", also "eventually you run out of other people's money").
This is a serious issue and possibly the biggest present threat to our current system. It's worth considering various possible solutions and thinking about what might work and what would likely lead to ruin.
If discussing these issue triggers "disgust" you may want to question if you are actually thinking about what is being said or just reacting emotionally.
nozzlegear 42 minutes ago [-]
No I think most commenters are responding to that. It's a shitty take from a shitty billionaire.
barddoo 27 minutes ago [-]
based, solid opinion
goldcd 57 minutes ago [-]
Somebody needs to introduce some sort of buddy system for billionaires.
This would allow them to air their dumb opinions in private to normal people, where they could be gently mocked like the rest of us.
Currently there seems to be a dangerously quick pipeline for them between a thought passing through their minds, and millions being made aware. God help me if you all knew the things I've said over the years..
cryptos 56 minutes ago [-]
Somehow money seem to damage personality. It's the same with David Heinemeier Hansson (who know Tobias Lütke in person), Elon Musk and many other folks.
SolarNet 51 minutes ago [-]
Tax the rich.
And by that I mean people who "earn" their wealth through mechanisms that aren't direct income. Heck, give an exception to the tax on the first million of non-income based wealth. But something has to change because their money is their power and they deserve less of it.
bryanlarsen 29 minutes ago [-]
Canada already has that exemption on the first CAD 1.25M capital gain, assuming that Shopify qualifies as a Canadian business by staying >50% Canadian for at least 2 years.
But like pretty much everywhere, Canada does not tax unrealized gains. At least they don't have the silly loop-hole that the US does of the step-up in basis on death.
tlogan 19 minutes ago [-]
My biggest problem with “tax the rich” is: then what? Build another “high-speed train”? Spend the money on some fake nonprofit run by the same rich people?
mamonster 40 minutes ago [-]
Makes sense. The biggest sin an American can commit is being poor. Welcome to Calvinism.
piker 57 minutes ago [-]
The article is paywalled, but isn’t he Canadian? Who cares what he thinks.
throw1234567891 44 minutes ago [-]
He’s German who lived in Canada for too long.
andrefmrocha 57 minutes ago [-]
Another example of why we will have to eat the rich or die trying
FLeXMurphy 44 minutes ago [-]
With the recent trend of flagging pg's articles, it might be time for the HN community to evaluate if they want to continue giving attention, eyeballs and time to something like HN, and YC by proxy. The hostility - not from HN posters but from the rich class, is not something to be taken lightly, and being on HN shows indirect support for unrestrained toxicity. Maybe a lift and shift to elsewhere (Lobste.rs etc) is in order? And make no mistake: on paper this would not really "do" anything, but walking away is a strong symbolic gesture all the same.
morkalork 53 minutes ago [-]
Cool cool cool. Now let's hear from the people who endorse stripping him of his wealth.
ablation 1 hours ago [-]
Why did a billionaire propose biasing the voting system towards the rich? Gee I wonder.
imzadi 1 hours ago [-]
Maybe if they made it on effective tax rate. Your vote is weighed based on the percentage of INCOME that is taxed, but everyone gets a vote regardless.
goldcd 55 minutes ago [-]
I think I'd just like it done on percentage of overall wealth handed to the government or charity each year.
Handy side effect would be that if Jeff wants to buy some influence for Amazon, he could do it by paying all his warehouse and delivery employees better.
runako 52 minutes ago [-]
Votes are equal because the belief system is that all people are equal. If you win the lottery, you don't instantly become a more valuable person.
Prior generations understood more clearly that the physical security that underwrites great financial successes is all underwritten in blood. A better heuristic is everyone gets the number of votes equivalent to how many of their lives they could give in a conflict.
panny 37 minutes ago [-]
Hear me out...
Why don't we tax stocks like we do homes with a property tax? Why am I paying property tax on the majority of my net worth, but billionaires are not?
Also, I know all about the buy/borrow/die strategy and I have an idea for that too. Let's tax all loans as income. They are, in fact, income. "B-but they have to be paid back!" That's income again, the bank should pay tax on it.
croes 1 hours ago [-]
How about that:
If you are a billionaire you lose your voting rights because you are already powerful enough and don’t need that extra power
Maxatar 18 minutes ago [-]
There are only 900 billionaires in the U.S. Do you think if they lost their voting rights it would affect the outcome of even a single election whatsoever?
greenavocado 59 minutes ago [-]
The way that's gonna go is "We investigated ourselves and found no wrongdoing."
duped 54 minutes ago [-]
Shopify seems to have a fascist problem.
sph 50 minutes ago [-]
Words have a well-defined meaning. Fascism, as established by Benito Mussolini, has nothing to do with oligarchy or plutarchy.
throw1234567891 41 minutes ago [-]
No idea why people downvote you when you’re right.
duped 43 minutes ago [-]
I'm referring to how both Lütke and DHH, a Shopify board member, have fascist politics.
The word does have meaning. But underlying that meaning is a philosophy that there is an in group that should have power and many out groups from which power should be stripped. There is a long history of industrial leaders supporting fascist ideology.
throw1234567891 38 minutes ago [-]
Yeah, but please google first on what Mussolini preached. State-owned corporazioni are nothing like privately operated businesses of today. Don’t hang on the word. The correct word you are looking for is plutocrat, indeed.
duped 14 minutes ago [-]
The word I wanted to reach for was Nazi but I toned it down
homeonthemtn 51 minutes ago [-]
I don't understand why we humor this stuff. Our society has lost the ability to simply say "no" to something. We have to argue everything into the weeds, constantly hand wringing about biases and hearing all voices.
You can be biased. I, for one, am biased towards democracy and am comfortable telling people to fuck off when they question it. I don't need to debate it. Just fuck right off.
elevation 32 minutes ago [-]
> I don't understand why we humor this stuff
Social contract is a difficult subject, and people don't think about it enough.
But thanks to this clickbait headline, thousands of readers may come upon an articulation of why current enfranchisement is more desirable than arrangements that preceded it. In other words, it's a chance to learn what's worth defending and how our current situation might be improved.
tomlockwood 1 hours ago [-]
"Let them eat cake!"
croes 49 minutes ago [-]
"Eat the Rich"
1 hours ago [-]
bluelimetea 48 minutes ago [-]
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rubyfruit 50 minutes ago [-]
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sigilsack 32 minutes ago [-]
[flagged]
opengrass 41 minutes ago [-]
Tax tiered votes are ideal in Municipal elections and can be easily implemented. Too many cities in US/Canada run ridiculous social programs, buses, trains and crack dens off the backs of homeowners.
State, Provincial, Federal: terrible idea, to arbitrarily disenfranchise people because they live off the pension from their life's work.
Traster 26 minutes ago [-]
Yes absolutely, famously American cities run crack dens using municipal taxes.
mothballed 8 minutes ago [-]
The Cabrini Green of yesteryear comes to mind. Some of the 60s-90s era public housing were straight up high-rise sniper dens.
sigilsack 21 minutes ago [-]
> State, Provincial, Federal: terrible idea, to arbitrarily disenfranchise people because they live off the pension from their life's work.
See, but if we break those stupid geezers we can get their land easier.
MSFT_Edging 29 minutes ago [-]
This statement is borderline sociopathic.
Social programs, buses, and trains enable any of that development at all.
When you cut after school programs and social hangouts, kids get into trouble.
Buses and trains multiply the economic potential of an area.
If all you have are the vague class of "home owners", who do you have in your grocery stores? Who fixes your roof? Certainly not you.
All you'd have is an armed quasi-military of cops protecting your depreciating homes from the mobs of scorned citizens waiting to burn your shit down.
chriscrisby 48 minutes ago [-]
50% of Americans think taxes are too high, the other 50% think taxes need to be higher so they’ll get a larger refund.
It’s not a sustainable system. A better solution would be to change tax law so a “payer” can’t receive a larger refund than what they paid. No more credits, only deductions.
kennywinker 28 minutes ago [-]
The majority of americans think their taxes need to be lower, and the taxes for the rich need to be higher.
mkw5053 2 minutes ago [-]
[flagged]
Ekaros 49 minutes ago [-]
I am not against idea of only net tax payers getting single vote. Say if you use government services or receive money such as grant that is counted against your total. If you own part of corporation that gets such support that is counted again. If you or your corporation gets tax deductions or relief those are counted as double.
Total everything up and if you are net payer you get to vote. If not no vote for you.
corps_and_code 34 minutes ago [-]
We tried this already in America and have decided that disallowing entire groups of people from voting is bad for democracy.
What happens when the federal government passes new tax laws that prevent certain genders, racial groups, etc from having to pay income tax? Are they permanently disenfranchised? This would be a system that I think would rapidly move social progress backwards and concentrate power in the hands of a few groups.
Ekaros 29 minutes ago [-]
Well you could have stronger constitutional protections. Say certain changes needing unanimous support from voters in referendum. Would lock in things, but would remove risks.
And USA already disallows voting based on age. And somehow lot of people find it acceptable. Surely voting should be right from birth?
Arubis 41 minutes ago [-]
To a first approximation this creates and enforces a permanent unvoiced underclass. Without any political representation, said underclass's differentiation from actual slavery would be pretty small.
ajross 30 minutes ago [-]
Why are you not against this? A vote isn't a payment in exchange for taxes. It's the mechanism by which the government represents the will of the people. How do you arrange things such that the government acts in the interests of people if it doesn't need to chase their vote? Or are you actually saying that poor people don't deserve a government that acts in their interest?
Even skipping the moral argument, there's a game theory trap here: let's say you run a government and your political enemies are on the poor side and fall into the "no vote" trap more often than your supporters. Obviously the solution to maximizing your share of the vote is to make them even poorer.
Ekaros 22 minutes ago [-]
Vote is mechanism to decide who gets to distribute those taxes. It seems reasonable that those who contribute get to decide. If they decide to give support fine. If not well...
Then again I suppose it would be fine too if voters decided to socialise absolutely everything including bodies of other voters. After all that would be democracy. And they chose that no protections are needed and everything is common now.
avalys 53 minutes ago [-]
What is inherently unreasonable about the idea that only people who pay into the system get a say in how the system operates?
The constitution still guarantees fundamental human rights.
Another idea - everyone is eligible to vote for the presidency and House of Representatives, but only net taxpayers can vote for the Senate.
The idea that there should be some kind of checks and balances on spending taxpayer money, where the people who actually pay the taxes have a special status, isn’t fundamentally incompatible with any principle that I support.
Obviously the current system - where we collect $5T in taxes each year and spend $7T, creating an enormous and ever-growing debt that the system is clearly not able to control - is not working.
odyssey7 50 minutes ago [-]
“We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness.--That to secure these rights, Governments are instituted among Men, deriving their just powers from the consent of the governed”
avalys 42 minutes ago [-]
Yes, and what I outlined is one reasonable way to implement “the consent of the governed”, and still a lot more democratic and inclusive than the system the authors of that statement implemented for the next ~150 years after writing it!
odyssey7 39 minutes ago [-]
Are you proposing that poor people would not be subject to the laws of the United States, as they would be provided no means to consent? That only the wealthy are to be governed, regulated, etc.?
It could be an interesting thought experiment to consider the second and third order consequences, even if, from first principles this is a non-starter in a democratic society.
First off all, what percent of people do not pay any taxes on income? What portion of them are poor vs. hedge fund managers or other super wealthy people who have structured their income in a way as to pay zero or near-zero income taxes? Would the latter be disincentivized from continuing those regimes?
Regardless, if you work at Shopify, you should consider quitting. You do not have to work for a crazy person like that.
[1] https://financialpost.com/personal-finance/high-net-worth/wh...
(assuming that he's not paid a salary by anyone else)
But, yes, under the proposed scheme, Lütke doesn’t get to vote. One may rest assured that this was a simple mistake. In fact, I’m sure he meant that only those pay capital gains tax get to vote, not income tax.
Oh, you know if something like this was implemented, those people would re-structure their income so they pay $1 in income tax.
Or they wouldn't bother, because they have far more effective ways of influencing the political process than voting. This would be purely about disenfranchising weaker people who could get in the way of them getting even more power.
This is all very beneficial for big business including Shopify: businesses can pay lower wages since the government steps in with benefits, including food, cash, housing, energy, medical care, and so on, for people with lower incomes, and then that means they have more money to spend as consumers (relevant to Shopify).
It would be interesting to see the class of doctors, lawyers and small business owners fighting against the class of large cap c-suite and the billionaires.
Democracy is an engineering exercise, just like any other system. Every part of the system has trade-offs that must be evaluated. You can make a logical argument that any other policy is open to abuse, etc. But why do you have to accuse other people of being “crazy” for having ideas about how to engineer a system?
If you modify this slightly to the percent of people who are not net taxpayers, meaning you subtract transfer payments (including social security, medicare, medicaid) to them from the taxes they pay (including social security, medicare, and medicaid), it's about 60% of the country, which tracks quite closely to the percentage of Americans who could not afford an unexpected $1000 expense.
Most of the country is on a constant financial cliff.
Your 60% figure is reasonable, though, as the gap between 28% and 60% is people who are paying a very, very small net amount, mostly via sales taxes or other taxes that exist like taxes on airplane tickets or hotels.
Right, because the tax system (generally) taxes income, not wealth. Not taking this into account is like asking "you're millionaire, yet you don't have any income, how come?" to a retiree. According to the new york times article that broke this story, most of it seems to be from his loss making businesses elsewhere. Moreover in recent years he has been paying tax, as those losses have stopped.
https://www.nytimes.com/interactive/2020/09/27/us/donald-tru...
So you're coming at this from the wrong end. The goal is explicitly to keep the poors from having a voice in politics. The exact policy and enforcement of the system will reflect that. Unintended consequences, like the rich being disenfranchised would not occur.
Doesn't help when the government doesn't maintain or enforce guardrails for the ultra wealthy.
This is a war on the middle class. Free and fair elections are the last hope that most have to resolve it peacefully, so of course those are under attack.
> I do not understand why anyone else would go along with this.
I've been asking myself that for 10 years. Through both traditional and social media manipulation, they found a way to get enough people to vote against their best interests, and normalize the behavior, that it doesn't matter if a large portion of the country is still paying attention and asking those questions.
Aspirations.
We should “listen” to these people with the same attitude as we do”listen” to gas station lottery addicts, instead we give them WAY too much credibility.
it has always been like this, has it not? almost by definition the more resources you have the more power you have. this is how the universe works.
Once upon a time only landowners were able to vote. Eventually that changed as the powerful realized that it was in their interest to share power, because they are vastly outnumbered and can have their riches taken away from them. It feels like we're getting closer and closer to today's rich classes having to learn that lesson again.
eg the comments here: https://old.reddit.com/r/EconomyCharts/comments/1u8d9mq/olde...
The "if you contribute more, your vote should be worth more" sentiment would change a lot, because many actually rich people don't really pay a lot of taxes compared to higher middle class (engineers, doctors,..). If your vote was worth eg "log10(your-income-taxes + 1)" (to make buying a lot of votes impossible), more power would go to higher educated and higher paid people and less to people who don't contribute to society (at least not financially). Again, i'm talking about a society where pretty much everyone who works also pays income tax, and you're not cutting out the majority of poor people.
Would it work? Probably not, but i understand the sentiment.
In democracy, power comes from demos. In capitalism, power comes from capital. Demos doesn't have concentrated capital.
Try starting a new party without capital and backing from people tied to mainstream media.
People never had power. Whenever they've thought they have power (revolutions), they fought for one new power hungry scumbag to replace old power hungry scumbag.
Because, as Plato argued, the best rulers are the ones that don’t want to rule, as ruling is a very heavy duty, if not burden.
If you strip corruption, it has no rewards. Instead you have to put up with “scambags” accusing for the things the corruption they would do if they had the power.
Why does this sound familiar?
> [they] have filled their skulls with a sense of moral and intellectual superiority - that because they have succeeded at work, they understand society better than others, and can only perceive the world through that lens of privilege
They have the money and power, but tech people in particualr lack the social graces and awareness that previous generations of rich people needed to operate. They think very highly of themselves, but all that "intelligence" doesn't prevent them from acting stupidly.
Remember how a few years back, all these billionaires and corporations were all talking about DEI and taking the knee and George Floyd, and (insincerely) shoving it all down everyone's throats?
It just became socially more acceptable for them to show their true colors.
I can't imagine many aerospace manufacturers turning down a contract with SpaceX because Elon said something politically incorrect. James Damore, on the other hand...
This isn't hate towards these rich guys (I think everyone should be able to say shit like this), just pointing out that we as a society hold them to different standards than we do regular people.
The asymptotic equivalent of $20 "burning a hole in your pocket"
Here's to hoping for more batmans and less lex luthors
But many of the wealthiest people I have known were also the least happy, driven by an insatiable urge to be great, and despite achieving vast success, were never able to feel or accept that they had already achieved it. It was never enough.
Higher social class predicts increased unethical behavior
https://www.pnas.org/doi/abs/10.1073/pnas.1118373109
And before anyone claims it's selection bias from within my left-leaning circle, I was well involved within the Tory circus until recently (a couple of years back).
Silicon Valley is very far from all that. More broadly I think it's a reflection of the isolation (physical, cultural, etc) of SV.
Maybe I'm trying to rationalise their behaviour too much but it feels like techbros have gotten a scarcity mindset.
"Tech bro" is finance bro.
Most of the "tech" CEO people we're admiring? as movers and shakers... very few of them actually come from an engineering background.
They're mostly just people attracted to the tech industry as a focus of dynamic high profit capitalism. The technology is only the background buzz.
Many of these businesses (Shopify especially!) -- in particular SaaS businesses -- actually have very weak "tech" innovation, it's really just the deployment of pre-existing engineering solutions (solved by other people usually) at scale in order to run a commercial business that just happens to use a lot of computers.
It's not a statement that people shouldn't see fruits of their labor, but that past a certain point, its no longer about the fruits or even the tree, but the power that comes with it. In a democracy, those who get lucky in business are not owed power.
So yeah, billionaires and trillionaires shouldn't exist, because their existence is a side-channel attack on society. Pay enough money and rules don't apply. Past a certain point, that wealth should be heavily scrutinized and audited as if it's nuclear fissile material. Similar to the nuclear material, it can be productive for society, or absolute destruction.
And for what it's worth his kids are remarkably well adjusted and nice, if a little bit out of touch about what most people deal with.
Most people would retire with "enough" long before.
"During Bill Gates’s tenure leading Microsoft, the company paid out an estimated $8.46 billion in publicly known antitrust settlements, competitor payouts, and government fines."
https://en.wikipedia.org/wiki/List_of_countries_by_charitabl...
the US is the most charitable country on earth as a percentage of GDP. There is so much philanthropy that the finance industry is building new businesses just to serve it
https://fintech.global/2026/04/29/the-philtech-revolution-wh...
There's plenty sociopaths that give to charity, because it's a socially accepted display of wealth, and because it is quite convenient for tax purposes.
Charging people for their fundamental rights.
It happens in many different ways. Look at all these people that just want to live and they can't even do that without having to pay to exists.
It is getting to be like that movie "In Time" where there is a clock you have to keep funding or you expire.
The distasteful thing is people refusing to contribute to society, especially for long periods of time. I know many people who have various mental and physical disabilities (some severe) who insist on working. Some able-bodied people can't even match some with severe disabilities. It's sick.
They are egotists. It’s one of the biggest parts of who they are.
I'm not married to that number, if people think it should be half a billion, or 100 million, or whatever, I'll go along with it.
How is this not hate speech?
I’m only half joking.
Second fun point is that he and his oligarch colleagues would find themselves with no votes: I guarantee I pay more income tax than this guy and anyone else in the multiple airplane owning class. Marvelous.
It is of course a fairly revolting idea but one which has some interesting unintended consequences, not least that we might suddenly find the rentier class figuring out how to declare income of $500,001 instead of a loss every year.
I will add that voting blocs do shift. In fact, in the last two US presidential elections, retirees actually broke for the Democrat. That could have something to do with Trump or be an actual trend.
Additionally, these rich people do pay a lot of tax, they just do it through different parts of the tax code and at a lower overall rate (by avoiding social security and Medicare taxes by way of earning through long-term capital gains). On the other hand they also own more real estate than you (probably) in desirable locations and pay a lot of property tax they can't avoid.
All that notwithstanding I sense that the root of this discussion that this guy's getting excoriated for, was exploring how to short-circuit the phenomenon wherein older people, voting at higher rates (and holding office long into their old age), secure for themselves preferential benefits at the expense of struggling younger generations. The thread took off in a strange way from there, but... I guess I like where it was trying to go at the outset.
Everyone gets screwed in this system but especially those paying a good amount of taxes and getting fewer votes like the 200-400k range. Or maybe not especially. This just an outright terrible idea.
It's just fundamentally a stupid thing to say, and the fact he says it in public strongly indicates that he's lost contact with anyone who will challenge him on this stuff.
They have forgotten that they also live in the very same physical world as the poor. Most of them don't even live that far from the poor.
Perhaps they don't consider the implications that nobody can fight a mob.
If they were as smart as they want people to think, they would think about these things and perhaps shut up (at least in public!) about making things worse for the poor.
They have failed again and again. There is no reason to believe Lutke's worthless dreams will go unchallenged if they are ever attempted in the first place.
2. We already have a gerontocracy. Tying income to vote-weight just solidifies the problem since most people earn more as their career progresses.
3. An alternative: grant voting rights to all under 18, proxied by their parent/legal guardian. This provides better alignment to the interests of the future than good fortune.
Stripping voting rights is a historical leading indicator of a trend to totalitarianism so it has to be nipped in the bud immediately.
Moreover, everyone who gains any amount of power becomes protective of it.
That's basic human nature. As a conservative, I under this.
There are some "reasonable" exceptions one could argue for, but as soon as you start making exceptions, you open yourself to abuse of the system. For example, using the tax code to enact social policy. I think it would be more honest for the government to take in all the money as taxes and then turn around and distribute money for socially beneficial programs such as green energy, schools, public health, et cetera. If you look at who screams about this, you'll probably find that most of them are opportunistic people who are afraid somebody will cheat the system better than they do.
This would also be a good opportunity to create an independent, transparent organization that audits where the money goes and provides raw data they use to justify their actions to the public so that others can double-check their conclusions.
#IfIWereKing
Hasn't affected the bottom line one whit.
The biggest con they ever pulled off is making working class people (and yes, that includes you, fellow tech workers!) hate unions.
Unions are the only way workers can fight back - they may be able to tell individuals what to do, but they can't control the collective.
This is also why they're so feverishly trying to build AI - they finally want to have workers that have no way of organizing.
The events since 2020 have made me reconsider that. A certain type of nerd should go to an interment camp, preferably in some seasteading dystopia that Thiel wanted.
Let us see what they achieve in their Galt Gulch in isolation.
From the article:
"Pension recipients should have their financial futures “locked in and guaranteed,” but in return would be reclassified as “dependents” and lose the right to vote—the same way minors can’t vote. A reply from “Eric Thor,” who claimed to be a retired banking executive as well as “armchair economist and policy wonk,” proposed a sliding scale: zero votes for anyone who pays no income tax, one vote for those earning $1–100K, two votes for $100–200K, scaling up in that pattern to a hard cap of five votes for anyone earning $500K or more. The pitch was framed as fairness—reward “representation” for those who “foot the bill” through taxation."
"That was the good system that Lütke endorsed."
Most of the commenters here seem to be responding to...something other than this?
Another way to express the general disgust: that proposal is saying, "we're going to take away your power, but we'll still look after you, pinky promise!"
This is a relatively recent innovation; most democracies throughout history have not had this property, so it's hardly the "entire basis" of the concept.
It is, however, an interesting and possibly worth goal. The obvious problem (which has been noted by many previously) is that when the people making the decisions are not the ones paying for it the system is unstable (e.g. "three wolves and a sheep voting on what to have for dinner", also "eventually you run out of other people's money").
This is a serious issue and possibly the biggest present threat to our current system. It's worth considering various possible solutions and thinking about what might work and what would likely lead to ruin.
If discussing these issue triggers "disgust" you may want to question if you are actually thinking about what is being said or just reacting emotionally.
This would allow them to air their dumb opinions in private to normal people, where they could be gently mocked like the rest of us.
Currently there seems to be a dangerously quick pipeline for them between a thought passing through their minds, and millions being made aware. God help me if you all knew the things I've said over the years..
And by that I mean people who "earn" their wealth through mechanisms that aren't direct income. Heck, give an exception to the tax on the first million of non-income based wealth. But something has to change because their money is their power and they deserve less of it.
But like pretty much everywhere, Canada does not tax unrealized gains. At least they don't have the silly loop-hole that the US does of the step-up in basis on death.
Handy side effect would be that if Jeff wants to buy some influence for Amazon, he could do it by paying all his warehouse and delivery employees better.
Prior generations understood more clearly that the physical security that underwrites great financial successes is all underwritten in blood. A better heuristic is everyone gets the number of votes equivalent to how many of their lives they could give in a conflict.
Why don't we tax stocks like we do homes with a property tax? Why am I paying property tax on the majority of my net worth, but billionaires are not?
Also, I know all about the buy/borrow/die strategy and I have an idea for that too. Let's tax all loans as income. They are, in fact, income. "B-but they have to be paid back!" That's income again, the bank should pay tax on it.
The word does have meaning. But underlying that meaning is a philosophy that there is an in group that should have power and many out groups from which power should be stripped. There is a long history of industrial leaders supporting fascist ideology.
You can be biased. I, for one, am biased towards democracy and am comfortable telling people to fuck off when they question it. I don't need to debate it. Just fuck right off.
Social contract is a difficult subject, and people don't think about it enough.
But thanks to this clickbait headline, thousands of readers may come upon an articulation of why current enfranchisement is more desirable than arrangements that preceded it. In other words, it's a chance to learn what's worth defending and how our current situation might be improved.
State, Provincial, Federal: terrible idea, to arbitrarily disenfranchise people because they live off the pension from their life's work.
See, but if we break those stupid geezers we can get their land easier.
Social programs, buses, and trains enable any of that development at all.
When you cut after school programs and social hangouts, kids get into trouble.
Buses and trains multiply the economic potential of an area.
If all you have are the vague class of "home owners", who do you have in your grocery stores? Who fixes your roof? Certainly not you.
All you'd have is an armed quasi-military of cops protecting your depreciating homes from the mobs of scorned citizens waiting to burn your shit down.
It’s not a sustainable system. A better solution would be to change tax law so a “payer” can’t receive a larger refund than what they paid. No more credits, only deductions.
Total everything up and if you are net payer you get to vote. If not no vote for you.
What happens when the federal government passes new tax laws that prevent certain genders, racial groups, etc from having to pay income tax? Are they permanently disenfranchised? This would be a system that I think would rapidly move social progress backwards and concentrate power in the hands of a few groups.
And USA already disallows voting based on age. And somehow lot of people find it acceptable. Surely voting should be right from birth?
Even skipping the moral argument, there's a game theory trap here: let's say you run a government and your political enemies are on the poor side and fall into the "no vote" trap more often than your supporters. Obviously the solution to maximizing your share of the vote is to make them even poorer.
Then again I suppose it would be fine too if voters decided to socialise absolutely everything including bodies of other voters. After all that would be democracy. And they chose that no protections are needed and everything is common now.
The constitution still guarantees fundamental human rights.
Another idea - everyone is eligible to vote for the presidency and House of Representatives, but only net taxpayers can vote for the Senate.
The idea that there should be some kind of checks and balances on spending taxpayer money, where the people who actually pay the taxes have a special status, isn’t fundamentally incompatible with any principle that I support.
Obviously the current system - where we collect $5T in taxes each year and spend $7T, creating an enormous and ever-growing debt that the system is clearly not able to control - is not working.