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There's a billionaire in the city where I in live. AIUI she (or the family) has hardly any cash, the billion is all one company, where voters work. I suspect t
by Arnt 3y ago
There's a billionaire in the city where I in live. AIUI she (or the family) has hardly any cash, the billion is all one company, where voters work.
I suspect that if any political party were to suggest taking 2% of that company per year as tax, the voters here would rebel.
Corollary A: if anyone is going to propose this in earnest, their definition of billionaire is going to be constrained to a lot less than those 2971.
- quantified 3y agoHow does she live with hardly any cash? Practically speaking, taking 2% of the company stock per year would expose the govt to downswings, and if they own enough of it, potentially get them involved in things like board seats. Public politics and corporate politics probably shouldn't mix. But excise taxes exist for other kinds of assets, and people find the cash for them. Selling stock to someone and forking over the cash from the sale (beware double taxation on the sale) doesn't diminish the overall value of the company, it just spreads ownership around. But it's sort of a weird concept.
- Arnt 3y agoWould you consider 1% interest "hardly any"? 0.1%? I definitely would. 0.05% 500k€ is a lot of money for a family and a year.