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It’s not a tax on the business. If Elon musk is forced to sell a percentage of his shares in Tesla that’s not going to change their bottom line, it just means s
by boublepop 5y ago
It’s not a tax on the business. If Elon musk is forced to sell a percentage of his shares in Tesla that’s not going to change their bottom line, it just means someone else, other than him is buying that ownership.
It’s a tax on the billionaires just like it’s intended, and they are forced to either pay themselves a salary that will also be taxed, just like poor people, in order to pay the capital gains tax. They can’t just borrow money against their gains and pretend that it’s fair that they don’t pay any taxes “because Elon Musk has no income”.
- mountainriver 5y agoThere are a lot of reasons why that may not be a good idea. First off it’s his company, he bought it fair and square and invested literally everything he had in Tesla, bet it all on himself, in my book that means he gets to keep it. Also then anyone could buy up his shares like a foreign government that doesn’t have our best interests at heart. I think this stuff sounds nice but when you look at the implementation it doesn’t hold up.