Much has been made of Elon being the richest man to have ever lived, in stonk now worth around $1/3 trillion. The wealthiest names that came to Generation X's minds were always early 20th century monopolists who lived in a time of no income tax. The wealthiest who ever lived in that time was John D Rockefeller, who was worth $82 billion when adjusted for the price of gold.
The world's richest have long been richer than early 20th century non income tax paying monopolists, but the illusion of that being a bygone era might be because they spent so much more on charity & seemed to own a lot more mansions than modern billionaires. On the 1 paw, the government is seen as the charity of the 21st century when it was previously private individuals. On the other paw, modern federal capital gains tax is 24% when it was 7% in the time of Rockefeller. The state level can kick in another 14% on top of that, so it's no longer practical to ever sell any stonk.
The amerikan people have now retaliated for the avoidance of capital gains tax by pushing for a 2% wealth tax on unrealized gains, every year. That would obviously be devastating to everyone, manely because it would force a large part of the stonk market to be sold off every year. The stonk market is the retirement plan for everyone who doesn't work for the government, not just billionaires.
Reservoir rose 4ft last week, so most of it was absorbed by the ground. The government predicts another above normal month in the Mt. Shasta watershed. The lion kingdom can pump water from the sacramento river, but it costs money.
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