To buy that yacht he had to pay 37% income tax, then luxury tax, then sales tax and now he is paying annual property tax.
Not to mention he has to pay for maintenance, salaries to the crew. Thanks to that yacht, a lot of people have jobs now.
Now if you want to take that yacht and divide among all the people in US I doubt you will get more than 1$ for each one of them.
You can of course add a bunch of other billionaires and get maybe $50 total, but that's about it.
Billionaire's personal spending is the least of your problem.
Corporate tax loophole is the real problem and it seems they finally decided to do something about it.
No, I don't want to take his yacht. I have to pay property tax and sales tax too. I want him to pay federal income tax on his income just like everybody else. Just because his income is in the form pf stocks and not cash should make no difference. If I win a car on The Price Is Right I have to pay tax on it as if it was income.
But this is just incorrect. Or maybe it's a misunderstanding. His income comes from when he converts some of his stocks to cash. He's not taxed until conversion because stocks are not cash. They are approximate estimations of cash value on a particular day. But it isn't cash. You can't buy a car with Amazon stock. You pay property taxes on your house at the state level, not at the federal level.
His cashflow comes from when he borrows against his stock, an act that results in no taxable income (and indeed results in a deduction for the interest he pays on the loan).
(You're a banker, Harry, surely you know how this works...)