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Joined 2 years ago
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Cake day: October 19th, 2023

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  • I am not the parent commenter, but the argument for and against wealth taxes is a lot more nuanced than many people would originally think.

    For one, a great deal of wealth in this country (the overwhelming majority, actually) is not money but takes the form of illiquid capital goods like real property and shares in companies. There is a real concern that people subject to tax just won’t have enough dollars in a bank account to pay for it, and forcing the sale of that many goods could render the markets illiquid as it wipes out the red side of the order book every April.

    A potential way around this is if the tax can be paid in kind, similar to how wealth taxes were collected historically, such as in the Roman Empire. This could be stupid easy to administrate—a 1% wealth tax against companies can be enforced by just minting 1% of every registered company’s outstanding shares in new stock and then transferring it to the control of the Government. Though the downside is that this sort of tax is very indiscriminate and difficult to target towards certain demographic groups. While shareholders are largely wealthy individuals who would be the target demographic for a wealth tax, they aren’t exclusively so. Effectively that becomes a tax on holding shares in companies, which is a good, but not perfect, proxy for wealth. The drawback to collecting shares in kind is that the stuff that is raised is not really “revenue” for the state, in that it is not money that can be spent, and to liquidate it would incur significant loss for the state as well. Which is basically throwing wealth away. This wasn’t a problem when “in-kind” meant grain and barley that could be used to feed the army, but soldiers can’t survive on a diet of stock certificates.

    I am in favour of large-scale wealth redistribution from the billionaire class to the working class, but doing so isn’t as easy as saying “You, billionaire, give me 1% of everything you got, cash.” I think a policy of combined high income tax, high capital gains tax, and taxing loans for personal expenses secured against shares as income is more likely to be effective.


  • NateNate60@lemmy.worldtoTechnology@lemmy.worldCatbox.moe got screwed 😿
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    5 days ago

    You’re being downvoted because your assertion that hosts are responsible for what users upload is generally false.

    (1) Treatment of Publisher or Speaker.—No provider or user of an interactive computer service shall be treated as the publisher or speaker of any information provided by another information content provider.

    (2) Civil Liability.—No provider or user of an interactive computer service shall be held liable on account of—

    (A) any action voluntarily taken in good faith to restrict access to or availability of material that the provider or user considers to be obscene, lewd, lascivious, filthy, excessively violent, harassing, or otherwise objectionable, whether or not such material is constitutionally protected; or

    (B) any action taken to enable or make available to information content providers or others the technical means to restrict access to material described in [subparagraph (A)].

    47 USC § 230c, a.k.a. Communications Decency Act 1996 § 230





  • The actual reason: Gasoline prices in the United States were customarily displayed in cents per US gallon (about 3.8 litres). This means the sign originally read something like “15”, which meant $0.15 per gallon. Since the US has also a long history of pricing things in 9 or 99 (due to the psychological effect of such pricing), many service stations appended the extra 9/10 at the end to indicate 9/10 of 1 cent, which was a more meaningful price difference when the price of fuel was 15 or 25 cents and not two or three dollars. Legally, although the smallest cash denomination in the US is one cent, the US dollar can still be nominally divided into 1,000 “mills” for accounting purposes.

    Inflation has caused the price of gasoline to rise, and when it passed $1 per gallon, service stations continued the same pricing traditions by just adding a third digit to the number. When digital price displays came on the scene, many of them continued to just display a three-digit number with the traditional 9/10 at the end, i.e. 123 9/10

    New displays seem to have gotten rid of this tradition and just display a three-digit decimal number, i.e. 3.45 or 4.56.