- cross-posted to:
- world@lemmy.world
- cross-posted to:
- world@lemmy.world
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If a billionaire is in actual trouble, he’s in China. US would have bailed out Evergrande.
I have pretty severe concerns about how the Chinese government operates, but this is one thing they do right.
I have pretty severe concerns about the way the American government operates.
We have traded the literal genocide and opression for corporations performing economic genocide and opression on us.
But hey, aren’t billionaires cool?
Yeah, well, I like having rights so we’ll just have to accept that everything can’t be perfect.
You know the majority of the world has the same if not more rights than you. Take Canada, I can go to any hospital without worrying if I will become bankrupt. I can own the majority of firearms this world has to offer and if I get pulled over, the police can not legally rob me because the money I have on hand isn’t drug money unless there is difinitive proof that it is.
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What the previous comment to yours was criticising the US govt. I didn’t move any goal posts was just pointing out that your freedoms is to do what your are told. Not much difference from China tbh
That’s the hypocrisy that we’re pointing out
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I don’t understand. You think that if the United States stops bailing out mega corporations and starts to enforce laws on white collar crime, that we will also lose civil rights?
Or maybe you’re trying to say that while the US has many faults, at least it’s not as bad as China. That is of course true, for some of the people some of the time, but certainly not all of the people all the time.
Typical American Exceptionalism take. Hey buddy, there are hundred of free countries that provide their citizens with inalienable rights.
How about you take your “America can do anything” attitude and apply it to GOOD instead of killing others?
American CAN do anything it wants, like helping its citizens.
It chooses not to.
Shhh, shhh. Quiet now.
Imagine living in a country where the rich are actually subject to the laws like everyone else…
Not exactly … they still treated with special previllages, its just this is bit too much
What special privileges are they treated with?
What special privileges are they treated with, motherfucker?
he was investigated over suspected “illegal crimes”
Are there any legal crimes you guys know of that I can try?
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Accepting bribes if you’re a Supreme Court justice.
Idk, piracy and jaywalkin’…
Then there’s loitering?
TFW: A writer gets paid by the word…
Anything with a fine you can easily pay.
Lobbying is just corruption with a different name.
are you rich?
Smh first they come for the corrupt property developers
Fun fact: his last name means a ‘dick’ in Polish (the most vulgar version of that word).
Not only in Polish. Pretty sure it’s most of Eastern Europe. 🤭
Gee it sure sucks that Evergrande collapsed. What a horrible sign for the Chinese economy!
Chinese do not fool around. I expect they will make an example of this guy.
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We are saddened to announce that he was fined deaded with two bullet wounds 😔
Now do Ken Griffin
He is fucked… he is a dead man…
Based. Wish that were us; we’ve got OODLES of real estate clowns who need to be shoved in a Brazen
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How do you recover that? How the hell are they going to recover what is essentially multiple time the sum of the wealth of all the top 10 richest individuals on earth???
By locking up the rich, seizing their wealth, and using SOEs to take over incomplete projects for pennies.
Presumably they won’t recover, because the Chinese state isn’t coming to their rescue: China’s housing minister says real estate developers must go bankrupt if necessary
multiple time the sum of the wealth of all the top 10 richest individuals on earth???
Do you mean the $78B fine or the $300B debt?
In either case, you’re way over exaggerating. All of the top 14 wealthiest people have over $100B each. Jeff Bezos (#2 richest) has close to $200B alone.
It’s even worse than I thought… Holy fucking shit.
Right!?
These people have more wealth than the GDP of some nations.
Jeff Bezos has more wealth ($190B) than the GDP of Ukraine ($170B).
In theory, but if he tried to liquidate all of his Amazon stock at once it’s very unlikely he would get that much for it. The price of the stock would crash.
except in theory they can borrow from the bank with their stock as leverage and would never actually need to liquidate anything (and they do just that).
Yep. This fucking loophole in the American tax system.
You borrow against your existing wealth, then the cost basis of your investments resets upon inheritance. So your estate can sell the investment to pay off the debt, and no capital gains tax is ever paid.
Because of this, in America, capital gains tax only applies to the middle class. The rich have a clear and obvious loophole.
You don’t, the investors loose the money. That’s the risk that they take investing in a business.
