The leading French economist Gabriel Zucman is urging European governments to inflict financial pain on American billionaires in response to US President Donald Trump’s effort to seize control of Greenland, a mineral-rich island that some of Trump’s rich campaign donors see as a potentially massive profit opportunity.
“Access to the European market—by billionaires and the companies they own—should be made conditional on paying a wealth tax: in effect, a tariff for oligarchs. If Elon Musk, for example, wants to keep selling Teslas in Europe, he should have to pay it. If he refuses, Tesla would lose access to the European market.”
I’m pretty sure Ireland is where all the major companies are “headquartered” and technically keep all their money there for tax reasons. Ireland could just freeze the bank accounts of Apple, Google, Microsoft, Meta, Intel, … Or do something similar if they so choose as retaliation. Would be devastating financially afterwards, but would get the US’s full attention
Yeah, I don’t think that is going to happen. We are talking about Ireland… Right?
I know some rich assholes here in the states… Put a 1000% tarrif on everyone visiting from the US. Nobody working class can afford it right now anyway.
This only affects the poor. It doesn’t affect billionaires, the ones who can affect change.
It’s cute you think the working class and working poor are clamoring for international trips.
I mean, do I think it would be effective? No. But to say this would affect the poor as if this would be some kind of major impact? Come on.
I think you don’t have the same definition of poor as I do in this context. Poor for me means not a billionaire oligarch.
According to lemmy, anyone with a retirement fund and able to go on even one vacation a year, is not working class… anyone who owns their home, and basically has a net worth over $1M, is not working class…
This kind of mentality completely works against the class consciousness we need to be building…
Hell, we need to be getting people with $5M net worth on board with us (i’m just throwing arbitrary number out). The target shouldnt be the 1% anymore… it’s the 0.1%
Yeah, there are a lot of people on Lemmy who have no idea about how much money it takes to have a modest but semi-secure life in the US. My net worth is probably a lot to those clueless wonders who carelessly throw numbers around. I’m utterly opposed to the fascists in power and want them not only removed, but to face justice, and for the system to be reformed to prevent them ever getting power again. And if that means no billionaires, fine. We need decent healtcare, we don’t need money-hoarders distorting our political system for their personal gain.
The target shouldnt be the 1% anymore… it’s the 0.1%
Precisely. Or even the 0.01%. It’s a long-tailed curve and that tail needs to be chopped off.
Looks at my bank account…. Nope, no money for a European trip anytime soon. I need a new roof more than a trip. Besides, by the time I have the money, it’s likely going to have little value. Yay to being the new Zimbabwe
I’m a middle-class guy who grew up working-class. I like doing international travel. Slapping me upside the head will do nothing to Trump and his enablers.
Learn from what you’ve seen with Trump: kicking your allies is a fool’s game. Focus on the real problem.
And I only have one upvote 😒
No, you have 25!
…to give
This would make Trump panic in the best way, it would directly undermine his aesthetic of Rich Asshole Who Other Rich Assholes Like.
Treat the American oligarchy like the robber barons they are
Tax Amazon, 50%
Tax Google, 50%
Tax Microsoft, 50%
Tax Apple, 50%
Tax Meta, 50%
Ban X, 100%
Ban Facebook
Seriously, at least the others, while evil, produce something of value for us.
Sorry, I’m being very disrespectful to the fan of the metaverse.
Yeah, but you can do better.
This was always the answer they were just too afraid of their own rich people until a land invasion seemed imminent.
We already know how to do this, its literally the first thing we did when we sanctioned Russia for Ukraine. Target the business interests of the people actually making the decisions.
Europe: sorry, best we can do is specific carveouts for US billionaire owned companies in our tax code…
Finally some fucking sense. Doing nothing and being mad has gotten no one anywhere. Hit them where it fucking hurts, bottom line be damned. Governments are not businesses.
Forget taxing them, the ones who committed crimes against humanity (Zuckerberg with enabling the Rohingya genocide, Musk for the disastrous disorderly shut down if USAID).
And get rid of all American oligarch gang activity; Apple, Google, Meta, all of them.
Europe has to get the ball rolling on a tech independence from US owned infrastructure (cloud). Then they can ban them.
In addition, kick out McDonalds, Burger King and Subway. Better for general health too.
Make multinationals pay tax on their earnings within the country, and without transfer-payment chicanery. Squeeze them until the pips squeak. They’re competing unfairly with locally-based businesses who actually pay their taxes.
This would be the largest W of the century, but I’m going to go ahead and manage my expectations
You could enact or enforce laws that forbid a felon, or associates of a felon, entry to your country.
Who would want criminals, or associates of criminals entering your country?
You might name such an organisation Immigration Criminal Exclusion, or ICE for short
Yep.
If Europe announced a 100% tariff on Amazon, Facebook, Microsoft, and OpenAI, Trump would be gone in a week.
