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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The idea that the 1% have silos of gold coins they swim through like Scrooge mcDuck is surprisingly common.
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If you want to raise taxes on the rich and not hurt the economy, lift the long term capital gains tax to the level of income tax, and have a very high estate tax without loopholes.
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The estate tax leads directly to capital flight. The government really just needs to function within its means, just like any private enterprise, charity, or family.
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You mean dismantle the competition-killing monopoly that Amazon is? That is not what makes the strongest economy in the world. Competition does. Capitalism is nothing without competition.
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I mean this seriously: do you have a basic understanding of what a monopoly is, how it’s created, and how it’s systematically prevented? The answer, btw, is no.
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