I don’t think there is any wealth there, just undeserved trust that allows them to raise money through debt.
If you seize that, then the debtors will come calling for higher risk premium and the venture implodes - sooner than they otherwise would.
So maybe it is a good idea anyway.
What wealth? These companies are hemorrhaging money, there wobybbe anything left to seize
They seize wealth from us
Trump accounts are now mandatory for all children born after 1/1/25. They were briefly optional and you chose if you wanted them while filing taxes
Trump accounts give the kid $1000 no strings attached and it’s loaded into an index (SPYM) made up of nvidia, apple, amazon, Microsoft, meta, tesla, micron, and alphabet class a (google).
On a surface read this is great, trump is giving free money to children for education planning.
But realistically it’s money laundering to fund their pump and dump. About 3.6-3.7 million children are born in the USA each year over the past few years (declining from a 2007 peak of 4.1). About 9% of those are undocumented, leaving about 3.25-3.3 million. This money isn’t free and doesn’t come from nowhere, it’s about 3.3 billion dollars of taxpayer money (yearly) to pump directly into AI companies and other grossly overvalued tech that’s propped up by making the overwhelming majority of retirement accounts contingent on its value (eg tesla)
In a typical 529 you have much more say in how investments are spread (with notable limitations) but the trump account is spym only.
Further, while 3.3 billion is barely anything in the scheme of the economy or even openais apparent (bloated) value, it’s to prime the pump to get more working class dollars in these companies. The 529 your child is given is essentially worthless if you make no contributions (at least in the context of education). Even maxing yearly contributions (5k/yr) from 0-18 with a prediction based on somewhat idealized returns would make the account worth ~$170,000 at 18, which is often not nearly enough to pay for college now, let alone in almost 2 decades. But it means a decent portion of Americans with children are pumping more of their cash into this bubble for their children’s education.
This is not even touching on the other gross things, like robinhood being the default and only servicer of these plans, which almost certainly is because of a fat bribe as they are the scummiest brokerage that preys on wallstreetbets gambler type retail investors.
Despite this it’s better than sending another 3 billion dollars of bombs for Israel to do genocide with, I guess
Where are you getting the information that they’re mandatory? Everything I can find shows them to be voluntary.
No way would someone just make things up on the internet would they?
You’re correct, I had that wrong. I misread an article about https://www.ssa.gov/news/en/press/releases/2026-07-03.html lwhich implied automatic enrollment when applying for a newborns ssn, but technically you can still opt out. There is heavy pressure to make enrollment automatic though
From the Trump Account website:
You can elect to open a Trump Account for your eligible children using IRS Form 4547. You can fill out and submit the form right in the Trump Accounts app, when you file your taxes, or through the secure IRS website called Individual Online Accounts, or IOLA.
Nor can I find anything making them mandatory.
What wealth?
https://www.wheresyoured.at/the-openai-bubble/
They can’t do anything if they aren’t spending VC money. LLMs are the most money burning corporate misadventure of all time.
I support seizing wealth from billionaires, period.
They get tax write offs from the government, as well as cities and states PAYING THEM to expand their empire.
They’re the biggest welfare queens.
I support seizing the health from billionaires.
deleted by creator
Green Mario?
I support seizing the wealth of all the wealthy.
The “majority of Americans” are fucking idiots. “If only we owned more of their stock we could direct how the tech is used!”, they decry, completely oblivious to the scam being perpetrating upon them to shift the downside risk to the “majority of Americans”. Never has more blatant propaganda hit my eyes.
You know how I know? Because we already have a mechanism for directing the actions of our institutions, forged in two centuries of nation building. It is called legislation and regulation, mother fuckers.
Now, I’d forgive you for recognizing that the power of the law is at an all time low, at least in living memory. So maybe the “majority of Americans” “seizing wealth” by their corrupt government owning more of the company stock seems more tangible and maybe the “majority of Americans” believe there is a future upside to owning all that yummy stock that will eventually make gas cheaper and lettuce not cause explosive diarrhea. But, see my first sentence.
sigh And now I am off to my job to keep my healthcare and keep a house over my family, and to pretend we’re not sliding into a fascist, racist, mysoginist, elitist hellscape of our own making.
I know this isn’t an apples to apples comparison, but are other countries like China also dealing with unemployment due to AI development, or are they supporting their workforce?
I believe their current solution is prohibiting the firing of workers only to replace them with AI to reduce cost. It’s eh; much better than anything we have, but the scope is so narrow it seeks like something the US would conjure up. Having said that, China usually enforces their stuff with teeth.
Why stop at AI?
Yeah, America needs a wealth tax desperately.
It has to start somewhere.
The problem is they over borrowed and dont make any money.
they have a bunch of assets. Doesn’t need to be cash
What “wealth”? They’re all losing money.
They’re losing borrowed money
High time we started taxing loans anyway to be honest.
They borrowed our real money from banks without us having any say in it, based on imaginary valuations of what someone would hypothetically spend for their mountain of shares based on the price the tiny slice for sale is worth…
A complete and utter disregard for supply side economics.
If any of them actually have to sell to pay back the loan, they go bankrupt and the bank can’t collect.
That makes every other bank individually panic and call all their loans in to try and get what they can.
Banks doing a run on banks. Then everyone’s going to try and pull their money out when banks starting going bust.
I’m just waiting for when they have to sell off all that depreciating silicone (SSD/HDD/RAM). Just hope they don’t throw it all in a landfill with the ET Atari carts out of spite.
Nope, that shit will flood the market, but it’s all been run hot for as long as possible, well, the stuff that actually went into data centers. Some of the shit that’s been “sold” hasn’t been made yet, because the data centers are still being built, on land that’s still being stolen through eminent domain.
Except, some of those data centers will be given over to government and corporate surveillance of, well, everyone. Surveillance that will then be used to enact violence on people. It already is.
RAM.
ALAMADINGDONG
Wanted to say that. They don’t have money and i’ll bet they never will have money, at least not anyone on the market today. In the future there might be hyperspecialized AI companies in market areas where they can raise the prices far enough to be cash flow positive on inference, but none of the current players will reach that point.
Why stop at the AI industry?
I was just thinking the same. Most of what’s bad about AI just leads back to the wealthy elite being greedy hoarders.
Yup. AI is just the logical conclusion of unregulated capitalism. When you can’t exploit the workers any further, you replace them with machines.
“stealing”
If it HAS to be a robbery, then that’s fine. I really don’t mind. We could even make sure to shoot them while we do it so there aren’t any witnesses.
A majority of Americans discover the concept of taxation.
Too late guys, the majority doesn’t get to make decisions anymore
Never did.
Forgive the old internet phrase, but
inb4 “It was never meant to. We’re a Republic, not a direct democracy.”
A Republic implies that the elected officials endeavor to represent the will of the people. If you think that’s going on in America, you may need to schedule a trepanning procedure or something because some shit’s wrong with your brain.
Maybe electing people to have power over you isn’t really democracy? Like ever? Maybe democracy means you don’t need other people making decisions, but to work them the fuck out among yourselves?
Or maybe that’s the exact opposite of democracy, and by not voting blue no matter who I’m the worst kind of fascist. Who can say?
I think there are historians and such who have dedicated their lives to studying this shit that can say.
And they say you’re wrong.
You’re right. I was being ridiculous. VOTE BLUE NO MATTER WHO
Ah it looks like you’ve failed the “make an argument and attempt to defend it without strawmanning” challenge.
Sorry, better luck next time.
Straw men are a real thing that exists in the world. Sometimes, that’s what you’re dealing with.
Sure, but that’s like saying “communism definitely works, we just haven’t seen it done right yet” when it’s clear to outsiders that it’s meant to not work, in the exact way it’s not working, for the benefit of powerful elites as has been the purpose and product of nearly every human government to date. This whole “having a government” experiment is the longest running, most repeated, and frankly easiest scam mankind ever invented.
…I don’t think you know what “inb4” means because I feel like we’re making the same argument in a lot of ways.
but since we’re here anyway, I’m not an anarchist because a large, unorganized mass of well-intentioned people is easily wrecked by a smaller, organized mass of poorly-intentioned people. Creating an organized mass of well-intentioned people seems to be the ideal in that case. People are just flawed and we have to figure out how to work around that. We’re also still evolving (in this case, socially more than biologically, but that’s a really superior form of evolution in many cases). We’ve been living in societies of this scale for a very short period compared to our entire evolutionary history.
I wouldn’t really describe myself as a communist either, I haven’t read enough THEORY for that lol, but I think it’s more likely to work than anarchism. And we’re obviously watching capitalism fail for literally all life on Earth so that’s a foregone conclusion.
Organization is one thing. Hierarchy is another. Try doing the former without someone emerging to ensure the latter to their own benefit. I’m an anarchist, not an anorganist.
How do we organize millions-if-not-billions of people in a cooperative structure without having a system to it and recognizing that some people have skills that others do not? A really big, really lengthy conversation?
