4 ms·

Most of wealth is in stock, which also represents control. If you tax heavily that would lead to loss or control. That's not necessarily a good thing for anyone

• UncleMeat 4y ago
  If people are worried about this then we can simply permit founders who pay taxes via ownership to retain magnified voting rights. We've already invented the idea of non-voting shares. Why is this some sort of thing that could never be solved?
  • californical 4y ago
    Well if they are forced to sell their shares to pay taxes, what happens to the stock market then? Now this causes the company’s stock value to go down due to dilution of shares, since each share is worth a smaller slice of the company, and there are more shares available on the open market. How do we compensate everyone who was holding that company in their 401k hoping to retire? The government billionaire taxation has actually hurt the middle class (& upper class but non-billionaires) too in this case, by taking away value of their retirement funds and personal investments. Do we pay the shareholders the money that was taken from the billionaire to make up the difference? Because then you’ve just created dividends, which already exists, but just with more steps and beurocratic overhead