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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True...partly explains Trump's appeal. Technological change has brought a lot of capital concentration with it (think Apple, Google, FB, Amazon). The size and revenue generation of several of these companies is a order of magnitude larger than the rest they compete with.
End of conversation
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How is this more true than for eg the income tax? The rate of return on capital probably exceeds 3% per year.
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"loosers"?!? I guess I'm not seeing the huge issue with multi-milionaires being slightly less wealthy multi-milionaires. I have no idea why this would even matter.
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Disagree. Motivation also the need to fund govt and avoid crushing national debt. Decades of compounded really low capital gains income tax rates correlate to deficit and debt. It's partly retro-taxing. Don't worry, 99% will still pay taxes. And French moguls survive wealth tax
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A wealth tax also means that the founders, who really care about their company and employees, lose control of their enterprise to financial managers primarily concerned with quarterly and annual reports. Expect bad business decisions and lots of layoffs.
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Maybe you can be president? Ah well I’m following anyway, well done and thank you!
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The wealth tax puts money back into the economy being spent and creating more jobs and profits for companies. Instead it sits in a trunk so that said billionaire can brag about his trunk while no one gains.
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