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The tax could be imposed on the owners of corporations. It boggles my mind that a 1% tax is a cap on the size of a business. The other way to raise the money is
by analog31 5y ago
The tax could be imposed on the owners of corporations. It boggles my mind that a 1% tax is a cap on the size of a business. The other way to raise the money is that the business could sell something, such as a product.
- kansface 5y agoA tax on capitalization is fundamentally different than one on profit or income. A chip fab is a 20 billion investment over 3 or more years. They'd pay out upwards of a billion dollars before they begin to sell anything. Any domestic industry that is capital intensive with low margins or high risk would die. A wealth tax is a terrible incentive for investment and growth of local businesses.