This is so true.

So many people just parrot whatever nonsensical talking point they heard.

Regurgitating things without an ounce of reflection or critical thought.

We'd largely be transferring shares in companies to the treasury bond holders, ie the people and orgs who hold US debt.

The federal government might for example force mega-sized private companies like Koch Industries to go public to get an accurate market valuation (or just sell it to private equity by starting a bidding war on it across many private equity investors).

The wealth tax cutoff would be determined by the national debt. It might fall to a relatively harsh / low threshold like 99.9% of assets over $20 million. Or maybe 99% of assets between $20 million to $1 billion, and 99.9% on assets above $1 billion.

Treasury bonds themselves would be subject to the wealth tax, so someone with $100 billion in T bonds might just see 99% of $80 million erased. So even the total number of T bonds payable will drop under this wealth tax.

But someone with $100 million in shares in private and public companies will see their shares transferred to the federal government, and then eventually sold.

Once every T bond has been paid off, Congress and the states could try to close the centuries-long chapter on debt by trying to pass a balanced budget constitutional amendment.

First, the general public would have more disposable income if we shift more of the tax burden on the ultra rich.

Second, people like Elon Musk won't be able to give themselves massive bonuses that are essentially paid by diluting common stock.

Also, with regard to the U.S., the U.S. could wipe out its national debt with a one-time wealth tax, and also pass a balanced budget const. amendment so it never ends up deep in debt again.

Lastly, perverse and extremely greed-based exploitative businesses might become less common, since there aren't ultra fat executive paychecks. Although it might still happen if a large group of people are able to make a somewhat high salary off such schemes.

So the U.S. will begin to rob and plunder the bank accounts of countries that don't have a bargaining chip?

Is that where the U.S. heading? The daylight roberry of the bank accounts of foreigners?

So U.S. equities will be sold for pennies?

Are you predicting a U.S. stock market crash bigger than the Great Depression, when oil runs out?

You're implying that people are selling inference at below cost right now. That's certainly not true for most third-party inference providers. I doubt API pricing at Anthropic or OpenAI is being solid below cost either.

The only place where you get what you're talking about are the fixed price plans OpenAI, Anthropic, Cursor, etc. sell.

And they’ve been consistently doing it for so long in this chat, that it’s hard to dismiss this as some crass joking. It seems like many of these people sincerely hold pro-Nazi views.

You're wrong on the purpose of it. The O-1 visa is for "exceptional" workers. The H-1B is for normal people.