As long as they just auction off the stocks or do mirror voting seems like that would be fine? Agree we don't want active management by the IRS.
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Replying to @robertwiblin @webdevMason
Actually having the IRS take 3% of the company on paper and just hold onto it and mirror vote solves your problem as everyone's votes are diluted equally!
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Replying to @robertwiblin
If you zoom out a bit, what this looks like is the federal government gradually taking ownership of the country's most successful businesses under the guise of a tax that doesn't actually raise revenue. At bare minimum, this looks very, VERY bad
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Replying to @webdevMason
Why bad? Only bad if they engage in active management. Otherwise it's just a sovereign wealth fund - the govt is accumulating wealth and when dividends are paid it can use that to fund expenditure, or borrow against its savings.
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Replying to @robertwiblin @webdevMason
Rob, when did Amazon last pay divs? In fact, with your proposal, Amazon would be gov majority, with no cash! Instead of Bezos / mgmt focusing on building the most consumer focused company in the world, they'd slowly be eaten by a crocodile
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Replying to @misha_saul @webdevMason
If equity were signed over to the govt and they held it and just did mirror voting, why would it affect their business decisions in any significant way? They don't have to pay out but whether the gain comes in capital gains while the govt holds, or dividends, doesn't matter.
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Replying to @robertwiblin @webdevMason
I guess in effect this would be the same as a CGT tax, but a CGT tax *caps* the tax on company building - ie. at tax rate of [~22.5%] (im Aus) which would be ~7 years of company building under a 3% annual tax. Not obscene that after 30 years of building your co, gov owns 90%?
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Replying to @misha_saul @webdevMason
Interesting alternative is that the government automatically co-invests in all businesses started in the country. Shares the upside and the downside! Can't remember the reasons we don't do this.
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Replying to @robertwiblin @misha_saul
Because Americans prefer consensual agreements re: property?
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Replying to @webdevMason @misha_saul
Tax is theft as well but we accept that for practical reasons! This is no more coercive as far as I can see. You get their investment too. It's actually not so bad a deal as an entrepreneur.
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Yeah okay “tax is theft” is not actually an argument for arbitrary seizures by gov
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Replying to @webdevMason @misha_saul
It's no more an arbitrary seizure than other taxes. This is the tax where when someone invests in a business, the govt fronts 20% of the money and gets 20% of the equity. It's effectively a tax on efforts finding businesses to invest in. Tax on the capital itself is none.
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Replying to @robertwiblin @webdevMason
If we are "how much" agnostic, I'd say more ways to tax is a good thing in that theoretically gov can collect more efficiently But I suspect the outcome is more "gov will grab more where it can". Will be more AND not OR, esp in US. Should experiment in smaller polities first
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