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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
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
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.
How is this more true than for eg the income tax? The rate of return on capital probably exceeds 3% per year.
"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.
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
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.
Maybe you can be president? Ah well I’m following anyway, well done and thank you!
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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