4 ms·
Wealthy people also like to buy up large amounts of undeveloped land for conservation purposes. I’m not sure why they don’t just say they are jacking up income
by AJ007 7y ago
Wealthy people also like to buy up large amounts of undeveloped land for conservation purposes. I’m not sure why they don’t just say they are jacking up income & capital gains taxes, and getting rid of tax-free asset transfers to non-profits.
I still haven’t seen anyone estimate how much Amazon’s value would drop if Jeff Bezos has to liquidate 6%+ of his Amazon shares every year. Who is even buying those shares? One could claim, well the existing trading volume would support it, but these predicted, yearly fire sales are going to be happening across all asset classes by the ultra wealthy. We may just be switching from paying for current consumption with IOUs (Treasury bonds) to transferring ownership of American assets to foreigners and thus future income.