Wrong tree?

> Nvidia CEO Jensen Huang Backs California Billionaire Tax Despite Potential $8B Bill

> "I don't mind paying taxes. The more you make, the more taxes you pay. I'm okay with that," Huang said

Things Jensen has said are now all suspect. Does he really believe this or is it just his day time positioning, in contrast to his nighttime positioning that cost him his job

Jensen has been one of the few outspoken billionaires for promoting higher taxes on himself. In fact, only he and Buffett come to mind as the members of that category.

Then again, below is a 2024 article from the NY Times claiming Jensen was taking advantage of loopholes to save $8 billion on taxes. I'm not sure whether playing by the existing rules is a sign that he wants lower taxes at the expense of everyone else, who wouldn't take advantage of loopholes while they exist? Any good accountant would recommend the same. The article:

https://www.nytimes.com/2024/12/05/business/nvidia-jensen-hu...

It's not necessarily inconsistent. You can support improvements to the tax code while also excelling under its current version.

Saying you support then actually making it possible, something that every billionaire can easily do with how super PACs work is an actual choice.

Talking is the cheapest thing you can do and his actions say more. Rather than helping make a free and safer society for Americans, he chose to ignore export bans and work with an adversarial government.

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Tens of thousands, maybe even hundreds of thousands of people built that company, kiddo.

They did the jobs they were given and were well compensated for it. This fact has no bearing on whatsoever on the claim that Jensen is "hoarding" his shares in the company that he created.

He could give away >95% of his wealth and it would make no difference at all to his life. He would still have the exact same life he has now. That wealth could be put to useful purposes, but isn't, because he is sitting on it. That is hoarding.

You could also fall in a well and would probably make no difference to the world.

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> You could drive a 20 year old car, live in a small apartment, wear Walmart clothes, and rely on Social Security for retirement while donating everything else to charity, and the difference on your life would be negligible.

No, this is false.

> You could drive a 20 year old car, live in a small apartment, wear Walmart clothes, and rely on Social Security for retirement while donating everything else to charity, and the difference on your life would be negligible.

No, this is obviously false.

I don't think you understand how much money a billion dollars is. A billion dollars in a HYSA giving 3.5% yields 35 million dollars a year, with zero risk. It takes a married couple ballpark 5 million dollars to basically never need to work again. So a billion dollars earning guaranteed interest gives you enough money to never need to work again, seven times over, every single year. After just one year, you already have more money just in interest than you could ever reasonably spend, and you haven't even tapped in to your principle. A billion dollars is an absolutely insane amount of wealth.

Jensen Huang has eighty times that much money. There is no difference between eighty billion dollars and one billion dollars. It's the same amount of money, it's effectively infinite. He can give away 79 of those 80 billions and he would not notice. He wouldn't have to drive a Walmart car or live in a small apartment, he can still have every lifestyle choice he could possibly want after giving away 95% of his money. The difference would not even be negligible to him, there would literally be no difference.

> well compensated for it

If they were, how could he hoard so much of their output?

He's not hoarding crap. Man's probably got maybe a couple hundred thousand dollars in free cash, the rest is all loans, stocks, investments and properties.

The only people that should be wealth taxed is leeches like you that see how utterly corrupt the state is with how it handles tax dollars and wants to give it more money.

Nah. He could sell most of that stock and it could be put to useful purposes while making no difference whatsoever to his life. It could be used to build housing, or pay teachers more, or build libraries, or found new companies, or pay off medical debt, there's thousands of things it could be used for. Instead he's just sitting on it. This is hoarding.

That’s a strange argument. His wife owns half of these dollars, so no one should feel for her as well?

(I personally don’t care about Jensen. I just don’t think that “people don’t deserve sympathy because they are billionaires” makes any sense.)

Being a billionaire is a choice to continue to hoard resources that could be put to useful purposes instead. Yeah, I don't have much sympathy for people who choose to squander our society's resources like that.

Does a billionaire who became billionair by marrying a person who became a billionaire also bears the responsibility of hoarding because they choose to marry that person and not divorce early?

What would be the adverse consequences of wealth-taxing someone who didn't actively choose to be wealthy? They would have a mere 500 million left, which they didn't want anyway?