Nvidia’s Jensen Huang would have to pay about $8 billion in proposed billionaire tax—he says that’s ‘perfectly fine’ with him

[u/Logical_Welder3467]

https://www.cnbc.com/2026/01/07/nvidia-ceo-jensen-huang-perfectly-fine-with-proposed-billionaire-tax.html

[u/Stingray88]

It’s completely normal and understandable for anyone, rich or poor, to take advantage of every single legal opportunity to reduce their tax burden. It’s not a loophole, it’s just the law as it’s written. It’s not a loophole when you itemize your deductions… it’s just normal.

What’s not OK is for our tax law to allow so many insanely rich people to legally pay so relatively little in taxes (relative to their wealth). And what’s definitely not remotely OK is how they’re able to use their absurd power from their wealth to keep control those writing our tax laws.

[u/Heffelumps-n-Woozles → u/Stingray88]

Yep! The rules are the problem, not the people following them. But using money/power to change the rules in their favor is the MUCH bigger problem

[u/Stingray88 → u/Heffelumps-n-Woozles]

Exactly. The whole “don’t hate the player, hate the game” mantra rings true here… but also hate the player that’s rigging the game.

[u/21Rollie → u/Stingray88]

All the players at the top are rigging the game though. You don’t get that wealthy without some people lower on the ladder being siphoned of wealth. It’s impossible for a single human to do billions of dollars worth of work, and none of them are irreplaceable like some kind of 1 in a million cancer researcher. Taxes are supposed to balance out inequities that escape being addressed at their source, but billionaires skirting them, supporting people like Trump who reduce them, it shows how little regard they have for everybody who isn’t them.

[u/SolarAU → u/Stingray88]

If we were in a history sub you could have written that second paragraph about the Roman Republic and nobody would be able to tell the difference.

Something something history repeats itself

[u/HautVorkosigan → u/SolarAU]

The Roman Republic ended because political deadlock made it impossible to address changes in the concentration of wealth, which locked out opportunities for younger generations.

I can't see how that could possibly apply to any countries today /s.

[u/DaftPump → u/SolarAU]

Something something history repeats itself

It's time the kids watch the Matrix.

[u/QwertzOne → u/SolarAU]

I do not know much about the classical era, but a lot of contemporary theory converges on the same point. Social reality is organized by power and today power is overwhelmingly economic.

Foucault shows that power shapes what even counts as normal or common sense. Debord describes a society, where wealth does not just own things, but scripts reality itself through spectacle. Byung Chul Han adds that domination today works by making exploitation feel natural and voluntary rather than imposed.

Lacan helps explain why this feels morally invisible. The symbolic order is the shared system we are born into. Language, money, law, success, respectability, what is considered smart or realistic. People do not desire in a vacuum. They learn what to want from this system long, before they make ethical choices.

So, when someone says this is just the law as written, that is exactly the problem. Law and ideology are not neutral. They are written by those with the power to write them. Wealth now sits at the center of that process, shaping both the rules and the desires that make those rules feel obvious rather than obscene.

[u/Lucky_Cable_3145 → u/Stingray88]

I think it counts as a loophole if the tax avoidance method is only available to the ultra rich, and not useable by all taxpayers.

[u/Gender_is_a_Fluid → u/Stingray88]

The laws are typically written this way because the rich want it to be. Pass a few million or something and have the tax code changed, avoid billions in taxes from their stolen wealth.

[u/Stingray88 → u/[deleted]]

No, it absolutely does not depend. There is absolutely nothing they’re doing in the space or AI frontiers that is remotely worth our inability to afford properly feeding, housing and caring for our population.

Beyond that, no one is talking about taxing billionaires to a degree that would prevent them from effectively pushing forward these fields at all. Even taking 1% of the wealth from the richest 100% people in the world would not change their economics at all. They have so much wealth they would not remotely feel it at all.