Tag: billionaires

Twitter sabotages itself in attempt to stop Elon Musk takeover

In a bid to thwart Tesla and SpaceX CEO Elon Musk’s attempted takeover of Twitter to make free speech changes, the company’s board has announced that existing shareholders will be able to purchase additional shares at a discount if a person or group builds a stake of more than 15% in the company without board approval.

The move, which is known as a “poison pill,” makes it harder for a person or group to take control of the company because their stake can be diluted whenever they own more than 15% of the company. However, it could also hurt existing shareholders because their stock would be diluted too and this dilution would lower the share price.

The poison pill will be in place for the next year.

Twitter’s poison bill defense follows Musk announcing a 9.2% stake in the company earlier this month and then offering to take the company private to make free speech changes yesterday. Musk had offered to pay $54.20 per share in cash and the stock last traded at a price of $46.66 – 13.9% below Musk’s offer price.

After offering to buy Twitter, Musk continued to defend free speech in an appearance at TED 2022.

“A good sign as to whether there’s free speech is, is someone you don’t like allowed to say something you don’t like? If that is the case then we have free speech,” the billionaire said.

“And it’s damn annoying, when someone you don’t like says something you don’t like. That is a sign of a healthy, functioning, free speech situation.”

During the interview, Musk said that his reasons for buying Twitter were not for profit.

“My strong intuitive sense is that having a public platform that is maximally trusted and broadly inclusive is extremely important to the future of civilization,” said Musk.

“I don’t care about the economics at all.”

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IRS Data: Democrat Billionaire Mike Bloomberg Pays Less than Half the Tax Rate Paid by Average American

Billionaire Michael Bloomberg, the failed Democrat presidential primary candidate and former New York City mayor, is paying less than half the federal income tax rate the average American taxpayer pays, newly published Internal Revenue Service (IRS) data reveals.

The revelation is part of a broad investigation by ProPublica that gives a glimpse into the tax loopholes that the richest 400 Americans utilize every year to dodge billions in federal income taxes that most Americans are required to pay.

“To make it into the top 400, each person on this list had to make an average of at least $110 million each year,” the investigation states. “A typical American making $40,000 would have to work for 2,750 years to make what the lowest-earning person in this group made in one.”

Bloomberg, ProPublica reports, “achieved one of the lowest tax rates in the top 400” richest Americans from 2013 to 2018 “partly by taking annual deductions of more than $1 billion, mostly through charitable contributions.”

During that time frame, Bloomberg paid an average federal income tax rate of just four percent — less than half the rate that the average American taxpayer, at 13.3 percent, pays every year. In fact, Bloomberg’s average rate is just 0.5 percent more than what the bottom 50 percent of income earners pay on average.

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Billionaires Taking $1.01 Billion from Taxpayers to Finance a Football Stadium — Distracting You is Expensive

“Heavy physical work, the care of home and children, petty quarrels with neighbors, films, football, beer, and above all, gambling filled up the horizon of their minds. To keep them in control was not difficult….”

― George Orwell, 1984

It’s no secret that the federal government has little restraint about using taxpayer dollars for non-essential initiatives and projects. One venture, in particular, continuously shouldered by taxpayers is the building, maintaining, and renovating of sports stadiums. These stadiums are often built with the help of federal subsidies as well as funding through state and local taxes. This issue is not new, as study of subsidized stadiums by the Department of Economics at the College of the Holy Cross noted that “construction costs alone for major league professional sports facilities have totaled in excess of $30 billion in nominal terms over the past two decades with over half of the cost being paid by the public.”

Of course, there is absolutely nothing wrong with watching sports. However, it has become far more than just a game in this country. It is used to promote militarism, divide, and serve as bread and circus while the empire spreads across the globe. As the study mentions above, all of this comes with a hefty price tag too. Americans are quite literally financing their own distraction. 

As Reason magazine reported this week, if approved by the New York legislature, the New York Bills’ taxpayer-funded stadium would be the biggest public handout in NFL history.

State and local taxpayers will contribute about $850 million toward the estimated $1.4 billion stadium project. Most of the public funds are coming from the state but Erie County, where the Bills’ new stadium will be built down the street from their current home, will contribute $250 million of the total. That’s a huge contribution from a local government that in 2021 spent a little more than $1.5 billion on its entire budget. The Bills owners, which include multi-billionaire Terry Pegula, are chipping in just $300 million while the NFL will cover the remaining $200 million with a loan to the team, according to the Times.

“It’s a great day for western New York and I’m really proud to negotiate such a good deal for the state and our many, many fans,” New York Gov. Kathy Hochul said, according to the Associated Press.

While the sticker price for taxpayers is just $850 million on the surface, Neil deMause at Field of Schemes reminds us that the county — funded by taxpayers — will spend $75 million out of this year’s budget, and bond out the other $175 million and pay it back later. What’s more, the taxpayers are on the hook for another $6 million a year, for 30 years for a “Capital Improvement Fund” which will be used to upgrade the stadium for the next 30 years, plus an unknown additional amount of money from the county; and $6.67 million a year in state money for 15 years toward a “maintenance and repair fund.”

As deMause points out, “without counting that undetermined county expense on future upgrades, that’s worth about another $160 million in present value, bringing the total public subsidy to $1.01 billion — pretty much exactly what Hochul and Erie County Executive Mark Poloncarz swore last week it was not.”

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Creepy Bill Gates Threw Millions at New Technology of Under-Skin Nanoparticle QR Code, to be Scanned by Smartphones

Last year it was revealed that Pentagon scientists working in a secretive united created a microchip to be inserted underneath the skin, that can detect Covid-19 before the body exhibits symptoms.

60 Minutes interviewed retired Colonel Matt Hepburn, an army infectious disease physician, who spent years with the secretive defense advanced research projects agency or DARPA, working on technology he hopes will ensure COVID-19 is the last pandemic.

“Dr. Hepburn showed us a few current projects, some sound like they’re from an episode of “Star Trek.” Consider a ship like the USS Theodore Roosevelt — hobbled last year when 1,271 crew members tested positive for the coronavirus. What if everyone on board had their health monitored with this subdermal implant, now in late-stage testing. It’s not some dreaded government microchip to track your every move, but a tissue-like gel engineered to continuously test your blood,” 60 Minutes host Bill Whitaker said.

Dr. Hepburn told 60 Minutes that the microchip is like a “check engine light.”

The segment aired on “60 Minutes.”

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While You Were Distracted by Will Smith, the International Elite Met at The World Government Summit

While much of the “mainstream” world has spent the last few days obsessing over and debating the celebrity spectacle surrounding American actor Will Smith slapping American comedian Chris Rock, the international elite were meeting in Dubai for the 2022 World Government Summit.

From March 28th to the 30th, corporate media journalists, heads of state, and CEOs of some of the most profitable companies in the world met for discussions on shaping the direction of the next decade and beyond. Anyone with a functioning brain should ignore the tabloids and instead pay attention to this little known gathering of globalist Technocrats.

Let’s take a look at the speakers and the panels, starting with Mr. Great Reset himself, Klaus Schwab, founder of the World Economic Forum.

Schwab gave a talk entitled, Our World Today… Why Government Must Act Now?.  “Thank you, to his excellency for enabling this initiative to define a longer-term narrative to make the world more resilient more inclusive and more sustainable,” Schwab stated during his address. The use of the term narrative is important because in January 2021, Klaus and the World Economic Forum announced the next phase of The Great Reset, The Great Narrative.

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Silicon Valley’s Transhuman Obsession Is Fundamentally Flawed

If, through biotechnology, we could drastically enhance ourselves—such that our ability to absorb and manipulate information was unlimited, we experienced no disquiet, and we did not age—would we? Should we? For advocates of radical enhancement, or “transhumanism,” answering “yes” is a no-brainer. Accordingly, they press for the development of technologies that, by manipulating genes and the brain, would create beings fundamentally superior to us.

Transhumanism is far from a household term, but, whether or not they use the word publicly, its adherents are in places of power, especially in Silicon Valley. Elon Musk, the world’s richest person, is devoted to boosting “cognition” and co-founded the company Neuralink toward that end. Having raised more than $200 million in new funding in 2021, in January, Neuralink proclaimed its readiness to start human trials of brain-implantable computer chips for therapeutic purposes, to help those with spinal-cord injuries walk again. But Musk’s ultimate target in exploring brain-computer connections is “superhuman,” or “radically enhanced,” cognition—a top transhumanist priority. Those with radically heightened cognitive ability would be so advanced that they wouldn’t even really be human anymore but, instead, “posthuman.”

In transhumanist fantasy, posthumans could, philosopher Nick Bostrom assures us, “read, with perfect recollection and understanding, every book in the Library of Congress.” Similarly, according to futurist and transhumanist Ray Kurzweil—who has worked at Google since 2012—they would rapidly absorb the entire contents of the World Wide Web. Pleasure would be pervasive and boundless: Posthumans will “sprinkle it in [their] tea.” On the flip side, suffering wouldn’t exist, as posthumans would have “Godlike” control of their moods and emotions. Of course, posthuman bliss would not be supreme absent immortality. This last facet, the quest to conquer aging, already garners substantial backing from Silicon Valley. In 2013, Larry Page, Google’s co-founder—and CEO of its parent company, Alphabet, until December 2019—announced the launch of Calico Labs, whose mission is to understand aging and subvert it. A growing list of startups and investors, dedicated to the “reprogramming” of human biology with the defeat of aging in view, has entered the mix. This list now includes Amazon founder Jeff Bezos, who, in January, contributed to the $3 billion that launched Altos Labs.

Today, transhumanism’s name recognition has spread beyond Silicon Valley and academia. In 2019, an opinion piece in the Washington Post stated that “the transhumanism movement is making progress.” And a 2020 essay in the Wall Street Journal suggested that, by making “our biological fragility more obvious than ever,” COVID-19 may be “just the kind of crisis needed to turbocharge efforts” to achieve transhumanists’ goal of immortality.

You’re probably already familiar with certain enhancements—like athletes using steroids to gain a competitive advantage, or individuals using ADHD drugs like Ritalin and Adderall off label in search of a cognitive boost. But a chasm separates such enhancements from transhumanism, whose devotees would have us engineer a species-level upgrade of humanity into posthumanity. And key to all of transhumanism’s planned advancements, mental and physical, is a specific understanding of “information” and its causal dominance in relation to features that advocates prize. This focus on information is also transhumanism’s fatal flaw.

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White House Announces New Minimum Tax on Billionaires

President Joe Biden will announce a new minimum tax targeting billionaires as part of his 2023 fiscal year budget on Monday, according to the White House.

The Biden administration announced the proposal on Saturday in a fact sheet ahead of the budget release, stating that the president’s plan “rewards work, not wealth.”

“President Biden’s Billionaire Minimum Income Tax will make America’s tax code fairer and reduce the deficit by about $360 billion in just the next decade,” the fact sheet stated.

As part of his 2023 budget, Biden is asking Congress to pass legislation mandating the richest American families to pay a minimum of 20 percent on all of their income, including unrealized investment income.

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