Tobias Lütke’s net worth is over 12 billion, like all billionaires he won’t have an income. He’ll be buying assets at an inflated price then taking out bank loans against them - a process that inflates prices on things like realestate and land (because the more they pay the more they can borrow from the bank).
Billionaires do this to avoid income taxes. They want to be paid in stocks, assets, and live tax free off never ending bank loans. He’ll they’ll buy media companies just to borrow against them, they’ll buy lobbying companies… And they’ll use them to make society worse (on top of the inflation they create).
…and the increased roads, infrastructure, costs to the community? Who covers their tax burden? That hole in the tax system? They use tax loopholes, so YOU cover their tax burdens. YOU do.
The most infuriating part of this? Mr. Lütke endorses the idea of granting more votes to those who pay more income tax, including stripping the right to vote from people who do not pay income tax.
He has also called pensioners ‘dependents’ who shouldn’t get to vote:
New deal: when you get your pension deal it’s locked in and guaranteed. But now you are a dependent and that means no voting, just like dependents under age. Enjoy the deal, let people with a stake in the future decide.
With CEOs - we need to switch to REAL grenades.
Tobias Lütke’s net worth is over 12 billion, like all billionaires he won’t have an income. He’ll be buying assets at an inflated price then taking out bank loans against them - a process that inflates prices on things like realestate and land (because the more they pay the more they can borrow from the bank).
Billionaires do this to avoid income taxes. They want to be paid in stocks, assets, and live tax free off never ending bank loans. He’ll they’ll buy media companies just to borrow against them, they’ll buy lobbying companies… And they’ll use them to make society worse (on top of the inflation they create).
…and the increased roads, infrastructure, costs to the community? Who covers their tax burden? That hole in the tax system? They use tax loopholes, so YOU cover their tax burdens. YOU do.
The most infuriating part of this? Mr. Lütke endorses the idea of granting more votes to those who pay more income tax, including stripping the right to vote from people who do not pay income tax.
He has also called pensioners ‘dependents’ who shouldn’t get to vote:
Sources: https://www.cbc.ca/news/canada/shopify-ceo-endorses-idea-to-give-more-votes-to-wealthy-canadians-9.7286688
https://moneywise.com/news/top-stories/shopify-ceo-tobi-lutke-pensioners-voting-rights
Well, considering I paid more in income tax than Bezos did, I think that’s a pretty damn good idea