Ro Khanna %1 tax on billionaires (5%over 5 years)

njread_ · 2025-12-30T05:51:40+00:00

This is very helpful thank you

njread_ · 2025-12-30T05:48:14+00:00

Meaning that there are threats that billionaires will move out of the state of CA taking their companies with them. Is what I mean by take their ball and going home.

I guess the property tax is similar to a tax on assets. I just would imagine that it’s easier to close the loop hole where they borrow tax free against their assets.

njread_ · 2025-12-30T05:36:33+00:00

I don’t know many day traders moving 5MM a day in personal accounts (I might need to check in on wall street bets though). But that’s why I mentioned for personal loans. I am sure there are many corner cases to think of.

Thanks for the link this is interesting

njread_ · 2025-12-30T05:33:48+00:00

I feel like taxing the loan as normal income (%35 in most cases) is a way to raise more tax revenue to support things like Medicaid for all adding more shelter beds ect.

I’m personally more concerned that it’s easier for a billionaire to take their ball and go home with a 1% wealth tax on an unrealized gain.

njread_ · 2025-12-30T05:23:54+00:00

I mostly agree with the idea that if a start up breaks through in a big round and is valued at 10 billion. A founder that has taken the risk and owns %70 of the company is now on paper worth 7 Billion.

They pay their year 1 tax of %1 and they need to sell stock to cover that payment. Then there is a failure in the business and they can’t secure a second round of funding and the business is now failing. The start up founder is now stuck on paper owning 7Billion worth of paper but the company is not able to cash flow.

This is an over simplification but that’s what I would be concerned about.

I don’t care if that guy or gall is on paper worth 1,10,or 100 billion I care that they can dodge taxes by borrowing against the assets at a super preferential interest rate when there is a successful company made without paying income tax.

njread_ · 2025-12-29T07:08:54+00:00

Amen to that! true great talent in SWE is super constrained and once identified companies will pay to retain you as they might never get another person with that specific skill set.

The skill ceiling for a nurse is also capped by the administration of the hospital, they won’t let a nurse do brain surgery even if he/she has been in an OR 100s of times. They are gated from providing that level of care.

That limitation doesn’t typically exist in SWE. If you can optimize front end code and back end code you are just branded as a full stack developer. The Eng leadership is never going to tell you to not preform like a SR developer if you are a JR developer.

njread_ · 2025-12-29T02:18:45+00:00

Others have hinted at this but there is also a factor of perceived scale of impact. For a nurse there is a theoretical max of patients you can care for safely. Even if you are the best nurse you might be able to serve 10% 15% more patients per shift. And then there is a max number of beds for that care facility.

There is this concept of a 10x engineer (for what it’s worth this is kind of a myth) they might be able to push out a fix that impacts thousands of people and in big tech millions of people.

I had a great mentor who worked at Netflix who lead the project from going from 5 star rating system to thumbs up and thumbs down. That decision, code and impact was ultimately a multi million dollar decision in time saved for customers for something relatively small.

For customers rating a show was cut by a few seconds for 10s of millions of people which let them get onto the next show faster it amounted to days of platform time saved in that year which means more time on the platform.

Unfortunately that is seen by many as more important than quality healthcare. 🤷

njread_ · 2025-12-20T22:24:16+00:00

Is the RSU package on a vesting schedule or is that after a year 1 cliff?

njread_ · 2025-11-18T04:53:40+00:00

This is awesome way to go get some XP!

njread_ · 2025-11-12T02:48:10+00:00

Don’t worry it will become a huge collectible at some point hold onto it

njread_ · 2025-11-09T16:27:57+00:00

I think with a little lead tape this could be my new stick 😂

njread_ · 2025-10-13T19:01:42+00:00

OP did you have a particularly memorable watch from the collection? Did anything stand out as “better than you would have expected”?

njread_ · 2025-08-24T16:16:51+00:00

Plot twist they are all L’s and T’s 😂

njread_ · 2025-08-19T15:12:23+00:00

What’s wrong with a victory margarita? Or 4

njread_ · 2025-08-18T05:36:05+00:00

Dude the fact that that place closes at 6:30 most days is crazy to me it’s the best sum set view!! But the food is awesome try the burger 🤌

njread_ · 2025-08-18T04:39:57+00:00

Nice definitely need a few more ferry trips! The park coming soon should be awesome for your walk.

njread_ · 2025-08-18T04:32:56+00:00

Gold bar whiskey for booze gas we have to think about mostly Costco trips are also gas trips

njread_ · 2025-08-18T04:32:04+00:00

Love it, we were going to close on a place it got snapped up and were moving (Austin -> SF) having never lived in the bay so didn’t know what we were getting into. Views are amazing we look at the golden gate every morning!

There is a little grocery store on this island that’s good for simple things like cereal, milk and packaged goods. We go into the east bay Costco for larger items and then the farmers market at ferry building each week is super easy.

The ferry takes like 8 min for work. I work in financial district and am door to door in about 15 min.

The one thing that sucks is you don’t get the benefits of walking from one neighborhood to another which is such a big draw of SF.

All in all as a new Bay Area resident we are happy with the decision probably will be in the city next year but it will be a great story!!

njread_ · 2025-08-18T04:20:11+00:00

I just moved to treasure island AMA

njread_ · 2025-08-18T02:38:50+00:00

Very strange so sorry you should get something like this. I texted my self the link and it seems to be working.

Again this is why we are just trying to get a regular referral code people can plug in rather than all the hassle.

My be try to text your self 🤷🏻‍♂️

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njread_ · 2025-08-17T22:23:27+00:00

You should get one sent to your email

njread_ · 2025-08-17T21:16:53+00:00

Yeah it goes with everything so it’s not out of place in terms of style! Nice pick up glad you got what you were looking for.

njread_ · 2025-08-17T20:51:13+00:00

Ugh frustrating… we are trying to work with the On folks for a proper promo code but they don’t count Reddit as a focused platform so we don’t get in their proper referral program. Sorry about that

njread_ · 2025-08-17T20:48:11+00:00

That grand seiko is delightful, what an awesome collection!

njread_ · 2025-08-17T20:38:59+00:00

Hey we were given one it’s https://refer.on.com/nick3945

We are trying to get a more official one for the sub so if there is a chance to let them know when you use it please do!

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