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Most billionaires are rich via stock. Forcing stock sales will cause markets to tank. Markets tanking will destroy retirement funds, pensions, teacher and publi
by ChrisLomont 6y ago
Most billionaires are rich via stock. Forcing stock sales will cause markets to tank. Markets tanking will destroy retirement funds, pensions, teacher and public pensions, and more.
Capital flight will empty markets, similar to all the countries that got this dumb (see the swedish financial transaction tax as an example). With investment gone, payrolls will fail since lending will fail, rates will skyrocket from uncertainty, and so on.
To stave off riots, the Fed will print money, and if we're lucky we'll be another poster child for hyperinflation.
All so people who used to make 50k a year can have another 6k.
Now we're all poor, but at least we're equal, right?