Forget Bezos, this is essentially EVERY successful founder in the country selling off 2-3% of their stake in their own companies *every year,* regardless of performance. This is what it looks like to butcher the milk cow alive
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Under a 3% wealth tax, Bezos’ first-year “fair share” exceeds *all* his liquid assets. Founders’ wealth is in their companies, not yachts. There’s nothing worth enough to sell but ownership stake. A cartoon vision of wealth is going to dismantle the strongest economy in the world
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The appeal of the wealth tax is that it makes the rich poorer. Whatever you think about the particulars of current tax schemes, they were broadly meant to avoid creating zero-sum games. The zero-sum game is the point, here. This is a policy reverse-engineered to guarantee losers.pic.twitter.com/9atXRgUVo3
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Also, wealth is unconsumed, Bezos having a pile of owned assets does not impose a claim on resources others may benefit from, only if he consumes it he does.
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This is why some of us vote "Anyone-But-Socialists"
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Yes, like notable non-experts on wealth Saez and Zucman /s
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And should such a tax happen, get excited for the thinkpieces where everyone wonders why AMZN share prices ranked and their retirement savings got pulverized.
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Ugh. Tanked, not ranked. DYAC!!!
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