Calm down professor. The US is one of the only countries in the world to tax worldwide income, even if they are a nonresident of the US. That is NOT how it works in every country.
Here’s a pretty good article about it from the WSJ if you want to educate yourself on the subject: https://www.wsj.com/articles/BL-WB-34630
It’s somewhat accurate to say “every penny they make is taxABLE to Uncle Sam” which is different from saying 100% tax rate. Americans living outside the US still need to file a tax return and report all their income, and pay tax on it to the US, even if it is from a foreign source. That said they could claim the foreign tax credit if they paid tax to a foreign regime on that income already, or the foreign income exclusion under some circumstances which would reduce their taxable income to the US.
The USA is run by unpaid 22 year old interns being supervised by underpaid 24 year olds.
Old people in charge are definitely a problem (McConnell, Feinstein etc) but the people in their offices doing all the heavy lifting are basically children.
I spoke with a far left friend of mine about this. His position essentially boiled down to the risk of a massive nuclear disaster outweighed the benefits. I said what about the known disastrous consequences of coal and oil? Didn’t really have a response to that. It doesn’t make sense to me. I’ll roll those dice and take the .00001% chance risk or whatever.
I really wonder if people like this have a playbook, like have they read history and put together a step by step guide at this point for maximizing assholery, or does behavior like this sort of emerge naturally as the assholes take control? Like why do we see this over and over in authoritarian regimes, is it natural or are they copycats?
Sidebar: today I learned the word assholery is a real word, I thought I just made it up lol
Imagine you own a goose that lays golden eggs. It lays one golden egg per year. How much would you sell it for? Probably not one golden egg, but definitely you’d sell if for a million gold eggs. You’d probably settle for maybe 5? 10? 15? Something like that.
Suppose the goose only lays one egg per year now (or none at all!) but it’s still young and most people expect it to start laying four or five or even ten or twenty eggs per year in a few years from now. It’s impossible to tell for sure how many it’ll lay over its life, or when that will happen, or if it will happen at all. NOW how much do you sell it for?
That’s the stock market.
A bunch of investors think a bunch of gooses will start laying a ton more golden eggs soon, and they’re willing to pay big bucks now in exchange for the possibility of that in the future. This isn’t a pyramid scheme or a zero sum game or anything like that. It’s just a prediction of the future which may or may not be correct, and only time will tell.
I’m so sick and tired of every single website and service trying to push an app on me. No, I don’t want to download your stupid shitty app, I’ve got dozens and I don’t want another one that I don’t use that interrupts me to push stupid notifications. Now get off my lawn!
You’re a very unpleasant person.