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Facebook Co-Founder: Tax the rich at 50% to give $500-a-month free cash and fix income inequality
CNBC ^ | July 5, 2018 | Tom Huddleston Jr.

Posted on 07/06/2018 6:59:02 AM PDT by EdnaMode

Facebook co-founder Chris Hughes thinks the government should give cash handouts to people with the lowest incomes in order to fight income inequality. And he thinks the money should come from higher taxes on wealthy individuals and even big tech companies, like Facebook.

Hughes, 34, was one of Facebook’s co-founders, along with Mark Zuckerberg and three of their Harvard classmates, in 2004. He was Facebook’s spokesperson for the company’s first three years, before leaving to finish his Harvard degree and then to work on Barack Obama’s 2008 presidential campaign as a media strategist.

He says he's made "half a billion dollars for three years of work" based on the value of his initial stock in Facebook, and his "lucky break" is exactly what's wrong with America today.

“That is indicative of a fundamental unfairness in our economy. Income inequality in our country has not been this bad since the Great Depression. And even though we’re reading the headlines that unemployment is at 3.9 percent and the stock market is at record highs, what’s actually happening is that the median incomes in our country haven’t budged in nearly 40 years. At the same time stories like mine create an illusion of economic opportunity," he told Techcrunch contributors Adriana Stan and Tom Goodwin on their "Interesting People in Interesting Times" podcast.

(Excerpt) Read more at cnbc.com ...


TOPICS: Business/Economy; Culture/Society; Politics/Elections
KEYWORDS: chrishughes; facebook; fakebook; hughes; incomeinequality; socialism; taxes; taxtherich
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How about tax rich hypocritical leftists 90% instead.
1 posted on 07/06/2018 6:59:02 AM PDT by EdnaMode
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To: EdnaMode

So, more welfare is his proposal.


2 posted on 07/06/2018 7:00:31 AM PDT by Army Air Corps (Four Fried Chickens and a Coke)
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To: EdnaMode

I think the Co-Founder has just re-invented Communism.


3 posted on 07/06/2018 7:00:42 AM PDT by Hang'emAll (If guns kill people, do pencils misspell words?)
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To: EdnaMode

He should set a good example, and do so himself. Why wait for a new law? He can do it today.


4 posted on 07/06/2018 7:00:53 AM PDT by rightwingcrazy
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To: EdnaMode

The rich will invest in pot farms and malt liquor companies, and will have all their money back within a couple of years.


5 posted on 07/06/2018 7:01:36 AM PDT by Buckeye McFrog
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To: EdnaMode

Income inequality is actual proof of real, actual general inequality.

The fact is inequality is a fact of life that can not be rendered inexistant. People are in fact not equal. Although there are many reasons for the inequality, laziness and lack of intellligence are the reasons.


6 posted on 07/06/2018 7:03:36 AM PDT by bert ((K.E. N.P. N.C. +12 ..... In August our cities will be burning))
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To: EdnaMode

Gibsmedat


7 posted on 07/06/2018 7:03:51 AM PDT by onedoug
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To: EdnaMode

Because it has been proven over and over again:

IT DOESN’T WORK!!!!!!!!!!!!!!!!!!!!!!!

He may be a technological genius, but he is a historical and economic moron!!!


8 posted on 07/06/2018 7:03:54 AM PDT by RatRipper (Unindicted co-conspirators: the Mainstream Media and the Democratic Party)
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To: EdnaMode

Feel free to write a check.


9 posted on 07/06/2018 7:04:07 AM PDT by NorthMountain (... the right of the people to keep and bear arms shall not be infringed)
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To: EdnaMode

Do it, and very soon 50% will not be “enough.” It is NEVER enough with the left.


10 posted on 07/06/2018 7:04:37 AM PDT by fwdude (History has no 'sides;' you're thinking of geometry.)
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To: rightwingcrazy

That’s what I was thinking, too. Nothing to prevent him from giving away all of his money. (I won’t hold my breath waiting.)


11 posted on 07/06/2018 7:04:54 AM PDT by HartleyMBaldwin
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To: EdnaMode

Don’t confuse luck with Wisdom.

Don’t confuse theft by taxation with charity.


12 posted on 07/06/2018 7:04:55 AM PDT by G Larry (There is no great virtue in bargaining with the Devil)
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To: All

He should just give all of his money to me.

I guarantee he’ll feel better.

Much more importantly, I’ll feel better, because cruising on a yacht with supermodels will be a remarkable tonic.


13 posted on 07/06/2018 7:07:53 AM PDT by Architect of Avalon
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To: EdnaMode

The twit did NOTHING to achieve his wealth, knows it and thinks that’s how all rich people got their money so they should all give it away.

Of course he hasn’t yet..


14 posted on 07/06/2018 7:08:13 AM PDT by Skywise
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To: EdnaMode

Why not just tax Facebook at 100%.


15 posted on 07/06/2018 7:08:26 AM PDT by DoughtyOne (01/26/18 DJIA 30 stocks $26,616.71 48.794% > open 11/07/16 215.71 from 50% increase 1.2183 yrs..)
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To: HartleyMBaldwin

He’s a businessman. Virtue signaling is much cheaper, but still keeps the rabble away from his gates. And keeps him in good graces with people of his status.


16 posted on 07/06/2018 7:08:57 AM PDT by rightwingcrazy
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To: EdnaMode

Tax rich Progressives at 90% of income and 99% of wealth. Let them start over each year with almost nothing.


17 posted on 07/06/2018 7:09:13 AM PDT by Bryanw92 (Asking a pro athlete for political advice is like asking a cavalry horse for tactical advice.)
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To: EdnaMode
Chris Hughes thinks the government should give cash handouts to people with the lowest incomes in order to fight income inequality. And he thinks the money should come from higher taxes on wealthy individuals and even big tech companies, like Facebook.

Seizing the wealth of capitalists to improve the consumption of the masses is a policy of capital decumulation, which must destroy the foundation of the productivity of labor, and thus real wages.

18 posted on 07/06/2018 7:09:20 AM PDT by mjp ((pro-{God, reality, reason, egoism, individualism, natural rights, limited government, capitalism}))
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To: EdnaMode

$500 is already not enough free government money. You can’t raise a family of 4 on $500 a month


19 posted on 07/06/2018 7:09:34 AM PDT by AppyPappy (Don't mistake your dorm political discussions with the desires of the nation)
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To: EdnaMode

The problem is that so many millions people dissent from Marxism. Then these “dissidents” as we call them have to be killed or placed in labor camps which smells up the whole Marxist country. Then there’s the lines for food, lack of technology, heavy drinking, etc.


20 posted on 07/06/2018 7:10:10 AM PDT by \/\/ayne (I regret that I have but one subscription cancellation notice to give to my local newspaper.)
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