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
-
-
Long run, this would kill innovative venture in the US. *Maybe* you can trap some extant capital here by threatening to confiscate a huge % of it on exit, but who wants to sign up to gradually lose their own successful business in advance? RIP, this chart https://twitter.com/sknthla/status/1070031703421333504 …
This Tweet is unavailable. -
This Tweet is unavailable.
- 5 more replies
New conversation -
-
-
This Tweet is unavailable.
-
This Tweet is unavailable.
- 12 more replies
-
-
-
This Tweet is unavailable.
-
Capital gains is a tax on the *profit* from a sale, while a wealth tax hits the current value of stock. Even with crazy high capital gains —say 90% — if your stock gains *any* value, you won't lose money. With a 3% wealth tax, anything under a 3% return is effectively a loss.
- 3 more replies
-
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.